Wedge Capital Management L L P NC increased its position in shares of Pitney Bowes Inc. (NYSE:PBI) by 4.5% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,609,910 shares of the technology company’s stock after purchasing an additional 69,253 shares during the period. Wedge Capital Management L L P NC owned 0.86% of Pitney Bowes worth $22,555,000 at the end of the most recent quarter.

A number of other large investors have also recently made changes to their positions in the stock. BlackRock Inc. raised its holdings in Pitney Bowes by 9,828.4% during the first quarter. BlackRock Inc. now owns 21,131,601 shares of the technology company’s stock worth $277,037,000 after purchasing an additional 20,918,761 shares in the last quarter. Bank of New York Mellon Corp raised its holdings in Pitney Bowes by 1.5% during the second quarter. Bank of New York Mellon Corp now owns 9,271,892 shares of the technology company’s stock worth $140,005,000 after purchasing an additional 137,446 shares in the last quarter. Miller Howard Investments Inc. NY raised its holdings in Pitney Bowes by 32.9% during the third quarter. Miller Howard Investments Inc. NY now owns 5,092,853 shares of the technology company’s stock worth $71,351,000 after purchasing an additional 1,259,978 shares in the last quarter. LSV Asset Management raised its holdings in Pitney Bowes by 4.8% during the second quarter. LSV Asset Management now owns 4,203,966 shares of the technology company’s stock worth $63,479,000 after purchasing an additional 191,400 shares in the last quarter. Finally, Dimensional Fund Advisors LP raised its holdings in Pitney Bowes by 93.6% during the second quarter. Dimensional Fund Advisors LP now owns 2,110,043 shares of the technology company’s stock worth $31,863,000 after purchasing an additional 1,019,942 shares in the last quarter. 76.41% of the stock is currently owned by hedge funds and other institutional investors.

Pitney Bowes Inc. (NYSE:PBI) traded up $0.06 during midday trading on Friday, hitting $11.25. The company’s stock had a trading volume of 5,779,073 shares, compared to its average volume of 2,212,016. The company has a market capitalization of $2,100.69, a PE ratio of 7.26 and a beta of 1.25. The company has a debt-to-equity ratio of 35.49, a current ratio of 1.42 and a quick ratio of 0.90. Pitney Bowes Inc. has a 52 week low of $11.09 and a 52 week high of $16.60.

Pitney Bowes (NYSE:PBI) last announced its quarterly earnings data on Wednesday, November 1st. The technology company reported $0.33 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.43 by ($0.10). The company had revenue of $842.82 million for the quarter, compared to the consensus estimate of $837.60 million. Pitney Bowes had a net margin of 2.64% and a negative return on equity of 5,297.85%. The company’s revenue was up .5% compared to the same quarter last year. During the same quarter last year, the firm posted $0.44 earnings per share. sell-side analysts predict that Pitney Bowes Inc. will post 1.38 earnings per share for the current year.

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Several equities research analysts recently commented on the company. Cross Research cut Pitney Bowes from a “hold” rating to a “sell” rating in a report on Wednesday, August 2nd. Loop Capital dropped their target price on Pitney Bowes from $14.00 to $12.00 and set a “hold” rating on the stock in a report on Thursday. ValuEngine raised Pitney Bowes from a “hold” rating to a “buy” rating in a report on Monday, October 2nd. BidaskClub cut Pitney Bowes from a “hold” rating to a “sell” rating in a report on Wednesday, August 2nd. Finally, Zacks Investment Research cut Pitney Bowes from a “hold” rating to a “sell” rating in a report on Thursday, August 3rd. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and two have assigned a buy rating to the company’s stock. The company currently has an average rating of “Hold” and a consensus price target of $14.50.

About Pitney Bowes

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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