Pitney Bowes (NYSE:PBI) Sets New 52-Week High After Better-Than-Expected Earnings

Pitney Bowes Inc. (NYSE:PBI) reached a new 52-week high during trading on Tuesday following a stronger than expected earnings report. The stock traded as high as $9.37 and last traded at $8.74, with a volume of 698937 shares changing hands. The stock had previously closed at $8.82.

The technology company reported $0.32 EPS for the quarter, topping analysts’ consensus estimates of $0.16 by $0.16. Pitney Bowes had a negative net margin of 13.02% and a negative return on equity of 12.85%.

Insider Activity at Pitney Bowes

In related news, EVP Lauren Freemen-Bosworth sold 42,308 shares of the business’s stock in a transaction that occurred on Friday, November 29th. The shares were sold at an average price of $8.12, for a total transaction of $343,540.96. Following the completion of the transaction, the executive vice president now owns 18,664 shares in the company, valued at approximately $151,551.68. The trade was a 69.39 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Deborah Pfeiffer sold 35,000 shares of the 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 completion of the sale, the executive vice president now owns 124,124 shares in the company, 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 currently owned by corporate insiders.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Meeder Asset Management Inc. bought a new stake in shares of Pitney Bowes in the fourth quarter worth about $31,000. Smartleaf Asset Management LLC grew its position in shares of Pitney Bowes by 130.3% in the 4th quarter. Smartleaf Asset Management LLC now owns 5,078 shares of the technology company’s stock valued at $37,000 after purchasing an additional 2,873 shares during the period. Quarry LP grew its position in shares of Pitney Bowes by 889.2% in the 3rd quarter. Quarry LP now owns 8,319 shares of the technology company’s stock valued at $59,000 after purchasing an additional 7,478 shares during the period. Truvestments Capital LLC bought a new stake in Pitney Bowes during the 3rd quarter worth approximately $86,000. Finally, AQR Capital Management LLC acquired a new stake in Pitney Bowes during the 2nd quarter worth approximately $97,000. 67.88% of the stock is currently owned by institutional investors.

Pitney Bowes Price Performance

The stock has a market cap of $1.88 billion, a P/E ratio of -4.75, a price-to-earnings-growth ratio of 0.52 and a beta of 2.01. The stock’s 50 day simple moving average is $7.80 and its two-hundred day simple moving average is $7.35.

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.