Raymond James & Associates Acquires 5,105 Shares of Pitney Bowes Inc. (NYSE:PBI)

Raymond James & Associates lifted its stake in shares of Pitney Bowes Inc. (NYSE:PBI) by 16.2% in the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 36,659 shares of the technology company’s stock after buying an additional 5,105 shares during the quarter. Raymond James & Associates’ holdings in Pitney Bowes were worth $161,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds also recently modified their holdings of PBI. Strs Ohio increased its position in Pitney Bowes by 98.5% in the 3rd quarter. Strs Ohio now owns 52,000 shares of the technology company’s stock valued at $157,000 after buying an additional 25,800 shares in the last quarter. Allspring Global Investments Holdings LLC increased its holdings in shares of Pitney Bowes by 50.9% during the third quarter. Allspring Global Investments Holdings LLC now owns 18,616 shares of the technology company’s stock valued at $56,000 after acquiring an additional 6,279 shares in the last quarter. Capital Management Corp VA lifted its holdings in shares of Pitney Bowes by 2.3% in the 3rd quarter. Capital Management Corp VA now owns 4,539,425 shares of the technology company’s stock worth $13,709,000 after purchasing an additional 104,190 shares in the last quarter. Syon Capital LLC bought a new position in shares of Pitney Bowes in the 3rd quarter worth $32,000. Finally, Illinois Municipal Retirement Fund bought a new stake in Pitney Bowes during the 3rd quarter valued at $327,000. Institutional investors own 67.88% of the company’s stock.

Pitney Bowes Stock Performance

PBI stock opened at $4.22 on Thursday. The business has a 50-day simple moving average of $4.12 and a two-hundred day simple moving average of $4.05. The company has a market capitalization of $748.88 million, a P/E ratio of -1.92, a price-to-earnings-growth ratio of 27.67 and a beta of 2.16. Pitney Bowes Inc. has a 52-week low of $2.80 and a 52-week high of $4.58.

Pitney Bowes (NYSE:PBI) last announced its earnings results on Thursday, February 1st. The technology company reported $0.07 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.02 by $0.05. The company had revenue of $871.58 million for the quarter, compared to analysts’ expectations of $849.85 million. Pitney Bowes had a negative return on equity of 4.75% and a negative net margin of 11.81%. Pitney Bowes’s quarterly revenue was down 4.1% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.06 earnings per share. As a group, sell-side analysts forecast that Pitney Bowes Inc. will post 0.01 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Separately, StockNews.com cut shares of Pitney Bowes from a “buy” rating to a “hold” rating in a report on Monday, February 5th.

About Pitney Bowes

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.