Key Points
- Pitney Bowes EVP Deborah Pfeiffer sold 18,750 shares on May 29 at an average price of $16.06, totaling about $301,125. After the sale, she still held 97,828 shares, reducing her position by 16.08%.
- The stock was trading higher, opening at $16.93 and up 5.2% on the day. Pitney Bowes now has a market cap of about $2.29 billion, with shares near their 52-week high of $17.08.
- Recent fundamentals were mixed but solid on earnings: the company matched quarterly EPS estimates at $0.47 and beat revenue expectations, though revenue declined 3.2% year over year. Analysts currently rate the stock a Moderate Buy with a consensus price target of $15.18.
Pitney Bowes Inc. (NYSE:PBI - Get Free Report) EVP Deborah Pfeiffer sold 18,750 shares of the company's stock in a transaction 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 directly owned 97,828 shares in the company, valued at $1,571,117.68. This trade represents a 16.08% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link.
Pitney Bowes Trading Up 5.2%
Shares of PBI opened at $16.93 on Tuesday. The stock has a market capitalization of $2.29 billion, a P/E ratio of 16.44, a price-to-earnings-growth ratio of 0.72 and a beta of 1.63. The firm's fifty day simple moving average is $13.71 and its two-hundred day simple moving average is $11.48. Pitney Bowes Inc. has a 12 month low of $8.95 and a 12 month high of $17.08.
Pitney Bowes (NYSE:PBI - Get Free Report) last issued its quarterly earnings results on Tuesday, May 5th. The technology company reported $0.47 EPS for the quarter, meeting analysts' consensus estimates of $0.47. The business had revenue of $477.41 million for the quarter, compared to analysts' expectations of $471.83 million. Pitney Bowes had a net margin of 8.92% and a negative return on equity of 33.41%. The business's quarterly revenue was down 3.2% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.33 earnings per share. As a group, research analysts predict that Pitney Bowes Inc. will post 1.62 EPS for the current fiscal year.
Pitney Bowes Cuts Dividend
The company also recently declared a quarterly dividend, which will be paid on Friday, June 5th. Shareholders of record on Monday, May 18th will be given a dividend of $0.01 per share. The ex-dividend date of this dividend is Monday, May 18th. This represents a $0.04 dividend on an annualized basis and a yield of 0.2%. Pitney Bowes's dividend payout ratio is 38.83%.
Institutional Investors Weigh In On Pitney Bowes
Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Longview Financial Advisors Inc. purchased a new stake in Pitney Bowes in the 1st quarter valued at about $26,000. EverSource Wealth Advisors LLC increased its stake in shares of Pitney Bowes by 41.3% during the 2nd 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. increased its stake in shares of Pitney Bowes by 190.9% during the 4th 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. increased its stake in shares of Pitney Bowes by 404.6% during the 4th 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 bought a new position in Pitney Bowes in the 2nd quarter worth approximately $51,000. Hedge funds and other institutional investors own 67.88% of the company's stock.
Wall Street Analyst Weigh In
A number of brokerages have commented on PBI. Wall Street Zen raised shares of Pitney Bowes from a "buy" rating to a "strong-buy" rating in a research report on Saturday, April 25th. Citizens Jmp upped their price target on shares of Pitney Bowes from $13.00 to $14.00 and gave the company a "market outperform" rating in a research report on Friday, April 17th. Truist Financial upped their price target on shares of Pitney Bowes from $11.00 to $15.00 and gave the company a "hold" rating in a research report on Thursday, May 7th. Weiss Ratings raised shares of Pitney Bowes from a "hold (c)" rating to a "hold (c+)" rating in a research report on Friday, May 8th. Finally, Zacks Research raised shares of Pitney Bowes from a "hold" rating to a "strong-buy" rating in a research report on Thursday, May 7th. 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. According to data from MarketBeat.com, Pitney Bowes presently has an average rating of "Moderate Buy" and a consensus price target of $15.18.
View Our Latest Report on PBI
About Pitney Bowes
(
Get Free Report)
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.
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