Pitney Bowes (NYSE:PBI) Sets New 1-Year High – Should You Buy?

Pitney Bowes Inc. (NYSE:PBI)’s share price reached a new 52-week high during trading on Friday . The stock traded as high as $18.49 and last traded at $18.4450, with a volume of 680714 shares changing hands. The stock had previously closed at $17.70.

Analyst Upgrades and Downgrades

Several brokerages recently commented on PBI. Weiss Ratings raised Pitney Bowes from a “hold (c)” rating to a “hold (c+)” rating in a research report on Friday, May 8th. Bank of America upgraded shares of Pitney Bowes from an “underperform” rating to a “neutral” rating and raised their price target for the stock from $9.50 to $16.50 in a research note on Monday, May 11th. The Goldman Sachs Group set a $15.20 target price on Pitney Bowes in a research report on Friday, May 8th. Zacks Research upgraded Pitney Bowes from a “hold” rating to a “strong-buy” rating in a research note on Thursday, May 7th. Finally, Truist Financial lifted their price objective on Pitney Bowes from $11.00 to $15.00 and gave the company a “hold” rating in a report on Thursday, May 7th. One research analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating and four have issued a Hold rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $16.43.

Pitney Bowes Stock Performance

The firm has a market capitalization of $2.48 billion, a P/E ratio of 17.77, a price-to-earnings-growth ratio of 0.82 and a beta of 1.62. The stock has a 50-day moving average of $16.56 and a 200 day moving average of $12.97.

Pitney Bowes (NYSE:PBI) last issued its quarterly earnings data on Tuesday, May 5th. The technology company reported $0.47 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.47. The firm had revenue of $477.41 million during the quarter, compared to the consensus estimate of $471.83 million. Pitney Bowes had a negative return on equity of 33.41% and a net margin of 8.92%.The business’s revenue for the quarter was down 3.2% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.33 EPS. On average, equities analysts predict that Pitney Bowes Inc. will post 1.62 EPS for the current year.

Pitney Bowes Cuts Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, June 5th. Investors of record on Monday, May 18th were issued a $0.01 dividend. This represents a $0.04 dividend on an annualized basis and a dividend yield of 0.2%. The ex-dividend date of this dividend was Monday, May 18th. Pitney Bowes’s payout ratio is currently 38.83%.

Insider Transactions at Pitney Bowes

In related news, CEO Kurt James Wolf sold 966,561 shares of the company’s stock in a transaction dated Wednesday, May 6th. The shares were sold at an average price of $14.58, for a total transaction of $14,092,459.38. Following the transaction, the chief executive officer owned 452,628 shares in the company, valued at $6,599,316.24. This represents a 68.11% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In the last 90 days, insiders have sold 3,351,337 shares of company stock worth $53,313,134. 6.50% of the stock is owned by corporate insiders.

Institutional Trading of Pitney Bowes

Several hedge funds have recently modified their holdings of PBI. LSV Asset Management lifted its stake in shares of Pitney Bowes by 246.7% during the fourth quarter. LSV Asset Management now owns 4,197,189 shares of the technology company’s stock valued at $44,364,000 after acquiring an additional 2,986,689 shares during the period. Cannell & Spears LLC raised its holdings in Pitney Bowes by 89.5% during the 3rd quarter. Cannell & Spears LLC now owns 3,364,466 shares of the technology company’s stock worth $38,389,000 after purchasing an additional 1,588,579 shares during the last quarter. Assenagon Asset Management S.A. bought a new stake in Pitney Bowes during the 1st quarter worth about $16,403,000. Pacer Advisors Inc. acquired a new position in Pitney Bowes during the 1st quarter valued at about $12,950,000. Finally, Millennium Management LLC lifted its position in Pitney Bowes by 60.2% during the 4th quarter. Millennium Management LLC now owns 2,630,801 shares of the technology company’s stock valued at $27,808,000 after purchasing an additional 988,653 shares during the period. 67.88% of the stock is owned by institutional investors.

Pitney Bowes Company Profile

Pitney Bowes Inc (NYSE: PBI) is an American technology company that specializes in shipping, mailing, and e-commerce solutions. Founded in 1920 by Walter Bowes and Arthur Pitney, the company pioneered postage meter technology and has since evolved to offer a broad portfolio of hardware, software, and services designed to streamline physical and digital communications. Headquartered in Stamford, Connecticut, Pitney Bowes leverages a century of expertise to serve enterprises, small businesses, and government agencies around the globe.

The company’s core offerings span mailing and shipping equipment, including postage meters, folder inserters, and address verification systems, alongside integrated software platforms for customer information management, data analytics, and location intelligence.