Pitney Bowes (NYSE:PBI) Hits New 1-Year High – Should You Buy?

Pitney Bowes Inc. (NYSE:PBI) hit a new 52-week high during mid-day trading on Thursday . The company traded as high as $17.13 and last traded at $16.8910, with a volume of 2357002 shares trading hands. The stock had previously closed at $16.78.

Analyst Upgrades and Downgrades

PBI has been the subject of a number of research reports. Weiss Ratings upgraded Pitney Bowes from a “hold (c)” rating to a “hold (c+)” rating in a report on Friday, May 8th. Truist Financial boosted their price target on Pitney Bowes from $11.00 to $15.00 and gave the company a “hold” rating in a report on Thursday, May 7th. The Goldman Sachs Group set a $15.20 price target on Pitney Bowes in a report on Friday, May 8th. Bank of America upgraded Pitney Bowes from an “underperform” rating to a “neutral” rating and boosted their price target for the company from $9.50 to $16.50 in a report on Monday, May 11th. Finally, Citizens Jmp boosted their price target on Pitney Bowes from $17.00 to $19.00 and gave the company a “market outperform” rating in a report on Friday, June 5th. One equities research analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating and four have issued a Hold rating to the company. According to MarketBeat.com, Pitney Bowes currently has a consensus rating of “Moderate Buy” and an average target price of $16.43.

Pitney Bowes Price Performance

The stock has a market cap of $2.29 billion, a PE ratio of 16.40, a price-to-earnings-growth ratio of 0.75 and a beta of 1.63. The business has a fifty day moving average of $14.55 and a 200-day moving average of $11.85.

Pitney Bowes (NYSE:PBI) last posted its earnings results on Tuesday, May 5th. The technology company reported $0.47 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.47. The company had revenue of $477.41 million during the quarter, compared to analyst estimates of $471.83 million. Pitney Bowes had a negative return on equity of 33.41% and a net margin of 8.92%.Pitney Bowes’s revenue was down 3.2% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.33 earnings per share. As a group, equities research analysts predict that Pitney Bowes Inc. will post 1.62 EPS for the current year.

Pitney Bowes Cuts Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, June 5th. Shareholders of record on Monday, May 18th were issued a dividend of $0.01 per share. The ex-dividend date was Monday, May 18th. This represents a $0.04 dividend on an annualized basis and a yield of 0.2%. Pitney Bowes’s dividend payout ratio is currently 38.83%.

Insiders Place Their Bets

In other Pitney Bowes news, CEO Kurt James Wolf sold 40,476 shares of the company’s stock in a transaction on Friday, May 22nd. The stock was sold at an average price of $15.62, for a total transaction of $632,235.12. Following the completion of the sale, the chief executive officer owned 360,210 shares in the company, valued at $5,626,480.20. This represents a 10.10% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Brent D. Rosenthal bought 4,000 shares of the stock in a transaction on Friday, March 13th. The shares were bought at an average price of $10.22 per share, with a total value of $40,880.00. Following the acquisition, the director owned 9,000 shares of the company’s stock, valued at $91,980. This trade represents a 80.00% increase in their ownership of the stock. The SEC filing for this purchase provides additional information. Insiders sold a total of 2,215,280 shares of company stock worth $32,695,541 over the last 90 days. Company insiders own 6.50% of the company’s stock.

Institutional Trading of Pitney Bowes

Hedge funds have recently bought and sold shares of the stock. Longview Financial Advisors Inc. purchased a new stake in Pitney Bowes during the first quarter worth $26,000. EverSource Wealth Advisors LLC lifted its holdings in Pitney Bowes by 41.3% during the second quarter. EverSource Wealth Advisors LLC now owns 3,472 shares of the technology company’s stock worth $38,000 after buying an additional 1,015 shares during the period. Hantz Financial Services Inc. lifted its holdings in Pitney Bowes by 190.9% during the fourth quarter. Hantz Financial Services Inc. now owns 3,747 shares of the technology company’s stock worth $40,000 after buying an additional 2,459 shares during the period. UMB Bank n.a. increased its position in shares of Pitney Bowes by 404.6% during the fourth quarter. UMB Bank n.a. now owns 4,022 shares of the technology company’s stock worth $43,000 after purchasing an additional 3,225 shares in the last quarter. Finally, Canada Pension Plan Investment Board acquired a new position in shares of Pitney Bowes during the second quarter worth $51,000. Hedge funds and other institutional investors own 67.88% of the company’s stock.

Pitney Bowes Company Profile

Pitney Bowes Inc (NYSE: PBI) is an American technology company that specializes in shipping, mailing, and e-commerce solutions. Founded in 1920 by Walter Bowes and Arthur Pitney, the company pioneered postage meter technology and has since evolved to offer a broad portfolio of hardware, software, and services designed to streamline physical and digital communications. Headquartered in Stamford, Connecticut, Pitney Bowes leverages a century of expertise to serve enterprises, small businesses, and government agencies around the globe.

The company’s core offerings span mailing and shipping equipment, including postage meters, folder inserters, and address verification systems, alongside integrated software platforms for customer information management, data analytics, and location intelligence.