California Public Employees Retirement System cut its holdings in Pitney Bowes Inc. (NYSE:PBI) by 5.0% in the second quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 718,612 shares of the technology company’s stock after selling 37,900 shares during the quarter. California Public Employees Retirement System owned approximately 0.38% of Pitney Bowes worth $10,851,000 at the end of the most recent reporting period.

Several other large investors have also made changes to their positions in the company. BlackRock Inc. increased its stake in shares of Pitney Bowes by 9,828.4% in the first quarter. BlackRock Inc. now owns 21,131,601 shares of the technology company’s stock valued at $277,037,000 after buying an additional 20,918,761 shares in the last quarter. Bank of New York Mellon Corp increased its stake in shares of Pitney Bowes by 1.5% in the second quarter. Bank of New York Mellon Corp now owns 9,271,892 shares of the technology company’s stock valued at $140,005,000 after buying an additional 137,446 shares in the last quarter. LSV Asset Management increased its stake in shares of Pitney Bowes by 4.8% in the second quarter. LSV Asset Management now owns 4,203,966 shares of the technology company’s stock valued at $63,479,000 after buying an additional 191,400 shares in the last quarter. Massachusetts Financial Services Co. MA increased its stake in shares of Pitney Bowes by 37.6% in the first quarter. Massachusetts Financial Services Co. MA now owns 1,780,498 shares of the technology company’s stock valued at $23,342,000 after buying an additional 486,581 shares in the last quarter. Finally, Northern Trust Corp increased its stake in shares of Pitney Bowes by 3.4% in the second quarter. Northern Trust Corp now owns 1,744,872 shares of the technology company’s stock valued at $26,348,000 after buying an additional 56,573 shares in the last quarter. Institutional investors own 76.18% of the company’s stock.

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Shares of Pitney Bowes Inc. (NYSE:PBI) opened at 13.96 on Friday. Pitney Bowes Inc. has a 12 month low of $12.31 and a 12 month high of $18.20. The company has a 50-day moving average price of $13.10 and a 200-day moving average price of $14.07. The firm has a market capitalization of $2.61 billion, a price-to-earnings ratio of 27.43 and a beta of 1.21.

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

The business also recently declared a quarterly dividend, which was paid on Tuesday, September 12th. Stockholders of record on Friday, August 25th were paid a $0.1875 dividend. The ex-dividend date was Wednesday, August 23rd. This represents a $0.75 annualized dividend and a dividend yield of 5.37%. Pitney Bowes’s payout ratio is 144.23%.

A number of analysts recently commented on the company. ValuEngine upgraded Pitney Bowes from a “hold” rating to a “buy” rating in a research report on Monday, October 2nd. Cross Research lowered Pitney Bowes from a “hold” rating to a “sell” rating in a research report on Wednesday, August 2nd. BidaskClub lowered Pitney Bowes from a “hold” rating to a “sell” rating in a research report on Wednesday, August 2nd. Zacks Investment Research lowered Pitney Bowes from a “hold” rating to a “sell” rating in a research report on Thursday, August 3rd. Finally, Loop Capital assumed coverage on Pitney Bowes in a research report on Friday, July 28th. They issued a “hold” rating and a $16.00 price objective for the company. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating and three have issued a buy rating to the company. The stock has a consensus rating of “Hold” and an average target price of $17.67.

Pitney Bowes 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.

Institutional Ownership by Quarter for Pitney Bowes (NYSE:PBI)

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