Pitney Bowes (NYSE:PBI) Given New $19.00 Price Target at Citizens Jmp

Pitney Bowes (NYSE:PBI) had its target price boosted by Citizens Jmp from $17.00 to $19.00 in a report issued on Friday morning,Benzinga reports. They currently have a market outperform rating on the technology company’s stock.

Several other brokerages also recently commented on PBI. Bank of America raised shares of Pitney Bowes from an “underperform” rating to a “neutral” rating and upped their price objective for the company from $9.50 to $16.50 in a research note on Monday, May 11th. Wall Street Zen raised shares of Pitney Bowes from a “buy” rating to a “strong-buy” rating in a research note on Saturday, April 25th. Weiss Ratings raised shares of Pitney Bowes from a “hold (c)” rating to a “hold (c+)” rating in a research note on Friday, May 8th. Zacks Research raised shares of Pitney Bowes from a “hold” rating to a “strong-buy” rating in a research note on Thursday, May 7th. Finally, The Goldman Sachs Group set a $15.20 price objective on shares of Pitney Bowes in a research note on Friday, May 8th. One analyst has rated the stock with a Strong Buy rating, two have given a Buy rating and four have issued a Hold rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $16.43.

Pitney Bowes Stock Performance

Shares of NYSE:PBI opened at $16.85 on Friday. Pitney Bowes has a 52-week low of $8.95 and a 52-week high of $17.13. The firm has a fifty day moving average of $14.20 and a 200 day moving average of $11.68. The firm has a market capitalization of $2.28 billion, a PE ratio of 16.36, a price-to-earnings-growth ratio of 0.75 and a beta of 1.63.

Pitney Bowes (NYSE:PBI) last announced its earnings results on Tuesday, May 5th. The technology company reported $0.47 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.47. Pitney Bowes had a net margin of 8.92% and a negative return on equity of 33.41%. The company had revenue of $477.41 million during the quarter, compared to analyst estimates of $471.83 million. During the same period in the previous year, the business earned $0.33 earnings per share. The firm’s quarterly revenue was down 3.2% compared to the same quarter last year. On average, sell-side analysts forecast that Pitney Bowes will post 1.62 EPS for the current fiscal year.

Pitney Bowes Cuts Dividend

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

Insiders Place Their Bets

In other news, EVP Deborah Pfeiffer sold 18,750 shares of the stock in a transaction that occurred on Friday, May 29th. The shares were sold at an average price of $16.06, for a total transaction of $301,125.00. Following the sale, the executive vice president owned 97,828 shares in the company, valued at $1,571,117.68. This represents a 16.08% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, CEO Kurt James Wolf sold 40,476 shares of the stock in a transaction that occurred on Friday, May 22nd. The shares were sold at an average price of $15.62, for a total transaction of $632,235.12. Following the sale, the chief executive officer owned 360,210 shares in the company, valued at approximately $5,626,480.20. The trade was a 10.10% decrease in their position. The SEC filing for this sale provides additional information. Over the last quarter, insiders have sold 2,365,280 shares of company stock worth $34,252,541. 6.50% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Pitney Bowes

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Longview Financial Advisors Inc. purchased a new stake in Pitney Bowes in the first quarter worth approximately $26,000. EverSource Wealth Advisors LLC boosted its holdings in Pitney Bowes by 41.3% in the second quarter. EverSource Wealth Advisors LLC now owns 3,472 shares of the technology company’s stock worth $38,000 after purchasing an additional 1,015 shares during the last quarter. Hantz Financial Services Inc. boosted its holdings in Pitney Bowes by 190.9% in the fourth quarter. Hantz Financial Services Inc. now owns 3,747 shares of the technology company’s stock worth $40,000 after purchasing an additional 2,459 shares during the last quarter. UMB Bank n.a. boosted its holdings in Pitney Bowes by 404.6% in the fourth quarter. UMB Bank n.a. now owns 4,022 shares of the technology company’s stock worth $43,000 after purchasing an additional 3,225 shares during the last quarter. Finally, Canada Pension Plan Investment Board purchased a new stake in Pitney Bowes in the second quarter worth approximately $51,000. Hedge funds and other institutional investors own 67.88% of the company’s stock.

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.