Pitney Bowes (NYSE:PBI) Reaches New 52-Week High – Time to Buy?

Pitney Bowes Inc. (NYSE:PBI) shares hit a new 52-week high on Monday . The company traded as high as $8.95 and last traded at $8.99, with a volume of 579534 shares changing hands. The stock had previously closed at $8.48.

Pitney Bowes Stock Performance

The company’s 50-day moving average price is $7.64 and its 200-day moving average price is $7.21.

Pitney Bowes (NYSE:PBI) last released its quarterly earnings data on Friday, November 8th. The technology company reported $0.21 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.13 by $0.08. The business had revenue of $499.46 million during the quarter, compared to analysts’ expectations of $467.80 million. Pitney Bowes had a negative return on equity of 12.85% and a negative net margin of 13.02%. As a group, research analysts anticipate that Pitney Bowes Inc. will post 0.38 earnings per share for the current year.

Pitney Bowes Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, December 6th. Stockholders of record on Monday, November 18th were given a dividend of $0.05 per share. The ex-dividend date was Monday, November 18th. This represents a $0.20 annualized dividend and a dividend yield of 2.25%. Pitney Bowes’s dividend payout ratio is presently -9.17%.

Insider Buying and Selling

In other Pitney Bowes news, Director Paul J. Evans acquired 29,000 shares of the stock in a transaction on Wednesday, November 20th. The shares were bought at an average price of $7.80 per share, with a total value of $226,200.00. Following the acquisition, the director now owns 29,000 shares of the company’s stock, valued at $226,200. This trade represents a ∞ increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Deborah Pfeiffer sold 35,000 shares of the stock in a transaction that occurred on Monday, January 27th. The stock was sold at an average price of $9.02, for a total value of $315,700.00. Following the transaction, the executive vice president now directly owns 124,124 shares of the company’s stock, valued at approximately $1,119,598.48. This trade represents a 22.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 14.30% of the stock is owned by company insiders.

Institutional Investors Weigh In On Pitney Bowes

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Renaissance Technologies LLC lifted its position in shares of Pitney Bowes by 3.8% during the 2nd quarter. Renaissance Technologies LLC now owns 519,571 shares of the technology company’s stock valued at $2,639,000 after acquiring an additional 19,000 shares during the period. XTX Topco Ltd purchased a new stake in Pitney Bowes during the second quarter worth $128,000. Public Sector Pension Investment Board grew its holdings in Pitney Bowes by 7.6% in the second quarter. Public Sector Pension Investment Board now owns 342,425 shares of the technology company’s stock valued at $1,740,000 after purchasing an additional 24,078 shares during the last quarter. Marshall Wace LLP increased its position in shares of Pitney Bowes by 248.1% in the second quarter. Marshall Wace LLP now owns 706,302 shares of the technology company’s stock valued at $3,588,000 after buying an additional 503,378 shares in the last quarter. Finally, Cubist Systematic Strategies LLC raised its stake in shares of Pitney Bowes by 144.5% during the 2nd quarter. Cubist Systematic Strategies LLC now owns 428,194 shares of the technology company’s stock worth $2,175,000 after buying an additional 253,076 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.