Alambic Investment Management L.P. lessened its stake in shares of Pitney Bowes Inc. (NYSE:PBI) by 96.3% in the second quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 13,900 shares of the technology company’s stock after selling 358,100 shares during the quarter. Alambic Investment Management L.P.’s holdings in Pitney Bowes were worth $119,000 at the end of the most recent quarter.
Several other large investors also recently added to or reduced their stakes in the company. Point72 Asia Hong Kong Ltd bought a new position in Pitney Bowes in the first quarter worth $132,000. Element Capital Management LLC bought a new position in Pitney Bowes in the first quarter worth $135,000. New Jersey Better Educational Savings Trust bought a new position in Pitney Bowes in the second quarter worth $171,000. Wedbush Securities Inc. bought a new position in Pitney Bowes in the second quarter worth $184,000. Finally, Quantitative Systematic Strategies LLC bought a new position in shares of Pitney Bowes during the first quarter valued at $238,000. 72.14% of the stock is owned by hedge funds and other institutional investors.
Several equities analysts have recently weighed in on the company. Zacks Investment Research upgraded Pitney Bowes from a “sell” rating to a “hold” rating in a report on Thursday. ValuEngine downgraded Pitney Bowes from a “sell” rating to a “strong sell” rating in a report on Tuesday, September 4th. Finally, Maxim Group set a $12.00 price target on Pitney Bowes and gave the company a “buy” rating in a report on Wednesday, August 1st.
Shares of Pitney Bowes stock traded down $0.06 during trading on Friday, hitting $7.06. 1,672,965 shares of the company’s stock traded hands, compared to its average volume of 2,299,036. The company has a debt-to-equity ratio of 16.56, a current ratio of 1.23 and a quick ratio of 1.20. Pitney Bowes Inc. has a 1 year low of $6.88 and a 1 year high of $14.80. The stock has a market capitalization of $1.33 billion, a PE ratio of 5.01 and a beta of 0.96.
Pitney Bowes (NYSE:PBI) last released its quarterly earnings data on Wednesday, August 1st. The technology company reported $0.26 EPS for the quarter, beating the consensus estimate of $0.25 by $0.01. The company had revenue of $861.00 million for the quarter, compared to analysts’ expectations of $854.03 million. Pitney Bowes had a return on equity of 138.42% and a net margin of 6.66%. Pitney Bowes’s revenue was up 17.9% compared to the same quarter last year. During the same period last year, the firm posted $0.33 earnings per share. As a group, sell-side analysts expect that Pitney Bowes Inc. will post 1.16 EPS for the current fiscal year.
The company also recently announced a quarterly dividend, which was paid on Tuesday, September 11th. Shareholders of record on Friday, August 24th were given a $0.1875 dividend. The ex-dividend date was Thursday, August 23rd. This represents a $0.75 annualized dividend and a yield of 10.62%. Pitney Bowes’s payout ratio is 53.19%.
Pitney Bowes Profile
Pitney Bowes Inc offers customer information management, location intelligence, and customer engagement products and solutions in the United States and internationally. The company operates in three segments: Small & Medium Business Solutions; Enterprise Business Solutions; and Digital Commerce Solutions.
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