Pitney Bowes (NYSE:PBI) Lowered to Buy Rating by StockNews.com

Pitney Bowes (NYSE:PBI) was downgraded by analysts at StockNews.com from a “strong-buy” rating to a “buy” rating in a note issued to investors on Monday.

Pitney Bowes Price Performance

Pitney Bowes stock traded down $0.23 during midday trading on Monday, reaching $9.07. The company had a trading volume of 2,350,170 shares, compared to its average volume of 2,011,674. Pitney Bowes has a 12-month low of $3.90 and a 12-month high of $11.01. The company has a market capitalization of $1.66 billion, a P/E ratio of -8.10, a P/E/G ratio of 0.59 and a beta of 2.02. The firm’s fifty day simple moving average is $9.49 and its 200-day simple moving average is $8.10.

Pitney Bowes (NYSE:PBI) last released its earnings results on Tuesday, February 11th. The technology company reported $0.32 earnings per share for the quarter, beating the consensus estimate of $0.16 by $0.16. Pitney Bowes had a negative return on equity of 20.95% and a negative net margin of 7.71%. On average, analysts expect that Pitney Bowes will post 1.21 EPS for the current fiscal year.

Insider Transactions at Pitney Bowes

In other Pitney Bowes news, EVP Deborah Pfeiffer sold 35,000 shares of the business’s stock in a transaction on Monday, January 27th. The stock was sold at an average price of $9.02, for a total transaction of $315,700.00. Following the transaction, the executive vice president now owns 124,124 shares of the company’s stock, valued at approximately $1,119,598.48. The trade was a 22.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director Kurt James Wolf sold 481,199 shares of the firm’s stock in a transaction on Monday, March 3rd. The stock was sold at an average price of $10.77, for a total value of $5,182,513.23. Following the completion of the sale, the director now directly owns 584,636 shares of the company’s stock, valued at $6,296,529.72. This trade represents a 45.15 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 1,974,484 shares of company stock valued at $19,815,631. Corporate insiders own 14.30% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the company. Dynamic Technology Lab Private Ltd acquired a new position in Pitney Bowes in the 3rd quarter valued at about $197,000. The Manufacturers Life Insurance Company raised its position in shares of Pitney Bowes by 33.6% during the 3rd quarter. The Manufacturers Life Insurance Company now owns 84,893 shares of the technology company’s stock valued at $605,000 after buying an additional 21,367 shares during the period. FMR LLC lifted its holdings in Pitney Bowes by 3,308.0% in the third quarter. FMR LLC now owns 320,152 shares of the technology company’s stock valued at $2,283,000 after acquiring an additional 310,758 shares during the last quarter. BNP Paribas Financial Markets grew its position in Pitney Bowes by 31.3% in the third quarter. BNP Paribas Financial Markets now owns 209,169 shares of the technology company’s stock worth $1,491,000 after acquiring an additional 49,854 shares during the period. Finally, Zurcher Kantonalbank Zurich Cantonalbank increased its stake in Pitney Bowes by 10.8% during the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 48,663 shares of the technology company’s stock worth $347,000 after acquiring an additional 4,728 shares during the last quarter. Institutional investors and hedge funds own 67.88% of the company’s stock.

Pitney Bowes Company Profile

Pitney Bowes Inc, a shipping and mailing company, provides technology, logistics, and financial services to small and medium-sized businesses, large enterprises, retailers, and government clients in the United States and internationally. It operates through Global Ecommerce, Presort Services, and SendTech Solutions segments.