Palisade Capital Management LLC NJ reduced its position in Pitney Bowes Inc. (NYSE:PBI) by 14.6% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 61,460 shares of the technology company’s stock after selling 10,532 shares during the period. Palisade Capital Management LLC NJ’s holdings in Pitney Bowes were worth $861,000 at the end of the most recent quarter.

A number of other large investors have also recently bought and sold shares of the business. Miller Howard Investments Inc. NY boosted its position in Pitney Bowes by 32.9% in the 3rd quarter. Miller Howard Investments Inc. NY now owns 5,092,853 shares of the technology company’s stock valued at $71,351,000 after buying an additional 1,259,978 shares during the last quarter. Tocqueville Asset Management L.P. boosted its position in Pitney Bowes by 33.1% in the 3rd quarter. Tocqueville Asset Management L.P. now owns 689,551 shares of the technology company’s stock valued at $9,661,000 after buying an additional 171,300 shares during the last quarter. First Quadrant L P CA boosted its position in Pitney Bowes by 37.1% in the 3rd quarter. First Quadrant L P CA now owns 1,046,469 shares of the technology company’s stock valued at $14,661,000 after buying an additional 283,088 shares during the last quarter. New Jersey Better Educational Savings Trust purchased a new position in Pitney Bowes in the 3rd quarter valued at about $280,000. Finally, State of New Jersey Common Pension Fund D purchased a new position in Pitney Bowes in the 3rd quarter valued at about $11,208,000. 76.41% of the stock is owned by institutional investors.

A number of research firms have weighed in on PBI. Loop Capital began coverage on shares of Pitney Bowes in a research report on Friday, July 28th. They issued a “hold” rating and a $16.00 price objective for the company. Zacks Investment Research cut shares of Pitney Bowes from a “buy” rating to a “hold” rating in a research report on Tuesday, July 11th. ValuEngine raised shares of Pitney Bowes from a “hold” rating to a “buy” rating in a research report on Monday, October 2nd. Cross Research cut shares of Pitney Bowes from a “hold” rating to a “sell” rating in a research report on Tuesday, August 8th. Finally, Sidoti raised shares of Pitney Bowes from a “neutral” rating to a “buy” rating and set a $17.00 price target on the stock in a research report on Wednesday, August 2nd. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and two have issued a buy rating to the stock. Pitney Bowes presently has a consensus rating of “Hold” and an average target price of $14.50.

Pitney Bowes Inc. (PBI) opened at $11.25 on Friday. The company has a debt-to-equity ratio of 35.49, a quick ratio of 0.90 and a current ratio of 1.42. Pitney Bowes Inc. has a 12-month low of $11.09 and a 12-month high of $16.60. The company has a market cap of $2,100.69, a PE ratio of 7.26 and a beta of 1.25.

Pitney Bowes (NYSE:PBI) last issued its quarterly earnings results on Wednesday, November 1st. The technology company reported $0.33 EPS for the quarter, missing the consensus estimate of $0.43 by ($0.10). Pitney Bowes had a negative return on equity of 5,297.85% and a net margin of 2.64%. The company had revenue of $842.82 million for the quarter, compared to the consensus estimate of $837.60 million. During the same period in the previous year, the business posted $0.44 EPS. The business’s revenue for the quarter was up .5% on a year-over-year basis. research analysts forecast that Pitney Bowes Inc. will post 1.38 EPS for the current fiscal year.

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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.

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

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