Pitney Bowes Inc. (NYSE:PBI) was upgraded by analysts at BidaskClub from a “sell” rating to a “hold” rating in a report released on Saturday.

A number of other brokerages have also recently issued reports on PBI. Zacks Investment Research raised Pitney Bowes from a “hold” rating to a “buy” rating and set a $18.00 price objective on the stock in a report on Friday, May 12th. Loop Capital began coverage on Pitney Bowes in a report on Friday, July 28th. They set a “hold” rating and a $16.00 price objective on the stock. Sidoti cut Pitney Bowes from a “buy” rating to a “neutral” rating in a report on Monday, May 15th. ValuEngine cut Pitney Bowes from a “buy” rating to a “hold” rating in a report on Friday, June 2nd. Finally, Cross Research cut Pitney Bowes from a “hold” rating to a “sell” rating in a report on Tuesday, August 8th. Two analysts have rated the stock with a sell rating, four have given a hold rating and two have issued a buy rating to the company. The stock currently has a consensus rating of “Hold” and a consensus target price of $17.50.

Shares of Pitney Bowes (NYSE:PBI) remained flat at $12.64 during midday trading on Friday. 991,946 shares of the company’s stock traded hands. Pitney Bowes has a 12 month low of $12.31 and a 12 month high of $19.10. The company’s 50-day moving average is $14.09 and its 200 day moving average is $14.11. The stock has a market capitalization of $2.36 billion, a P/E ratio of 24.83 and a beta of 1.17.

Pitney Bowes (NYSE:PBI) last issued its quarterly earnings results on Tuesday, August 1st. The technology company reported $0.33 EPS for the quarter, missing analysts’ consensus estimates of $0.36 by $0.03. The firm had revenue of $821.40 million for the quarter, compared to analysts’ expectations of $822.90 million. Pitney Bowes had a net margin of 3.02% and a return on equity of 15,666.66%. The firm’s quarterly revenue was down 1.7% on a year-over-year basis. During the same period in the prior year, the company earned $0.39 EPS. On average, equities research analysts forecast that Pitney Bowes will post $1.68 EPS for the current year.

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A number of hedge funds have recently modified their holdings of PBI. Wedge Capital Management L L P NC raised its position in shares of Pitney Bowes by 25.1% in the first quarter. Wedge Capital Management L L P NC now owns 1,852,847 shares of the technology company’s stock worth $24,291,000 after buying an additional 372,115 shares in the last quarter. Great West Life Assurance Co. Can raised its position in shares of Pitney Bowes by 124.6% in the first quarter. Great West Life Assurance Co. Can now owns 108,618 shares of the technology company’s stock worth $1,421,000 after buying an additional 60,260 shares in the last quarter. Canada Pension Plan Investment Board raised its position in shares of Pitney Bowes by 54.6% in the first quarter. Canada Pension Plan Investment Board now owns 2,217,500 shares of the technology company’s stock worth $29,071,000 after buying an additional 782,900 shares in the last quarter. Oregon Public Employees Retirement Fund raised its position in shares of Pitney Bowes by 336.9% in the first quarter. Oregon Public Employees Retirement Fund now owns 84,491 shares of the technology company’s stock worth $1,108,000 after buying an additional 65,153 shares in the last quarter. Finally, State of New Jersey Common Pension Fund D acquired a new position in shares of Pitney Bowes during the first quarter worth $11,818,000. 76.98% of the stock is currently owned by institutional investors and hedge funds.

Pitney Bowes Company Profile

Pitney Bowes Inc is a global technology company. The Company offers customer information management, location intelligence and customer engagement products and solutions to help its clients market to their customers, and shipping, mailing, and cross border e-commerce products and solutions that enable the sending of parcels and packages across the globe.

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