Vident Investment Advisory LLC Invests $472,000 in Pitney Bowes Inc. (PBI)
Vident Investment Advisory LLC purchased a new stake in shares of Pitney Bowes Inc. (NYSE:PBI) in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The fund purchased 33,677 shares of the technology company’s stock, valued at approximately $472,000.
Other institutional investors and hedge funds also recently bought and sold shares of the company. Brookstone Capital Management acquired a new stake in Pitney Bowes in the 2nd quarter worth approximately $283,000. Meeder Asset Management Inc. lifted its holdings in Pitney Bowes by 23.1% in the 3rd quarter. Meeder Asset Management Inc. now owns 64,824 shares of the technology company’s stock worth $909,000 after purchasing an additional 12,180 shares during the last quarter. Gotham Asset Management LLC lifted its holdings in Pitney Bowes by 50.0% in the 2nd quarter. Gotham Asset Management LLC now owns 398,026 shares of the technology company’s stock worth $6,010,000 after purchasing an additional 132,684 shares during the last quarter. TrueNorth Inc. lifted its holdings in Pitney Bowes by 54.6% in the 3rd quarter. TrueNorth Inc. now owns 122,447 shares of the technology company’s stock worth $1,715,000 after purchasing an additional 43,228 shares during the last quarter. Finally, WBI Investments Inc. lifted its holdings in Pitney Bowes by 254.2% in the 2nd quarter. WBI Investments Inc. now owns 63,533 shares of the technology company’s stock worth $959,000 after purchasing an additional 45,597 shares during the last quarter. Hedge funds and other institutional investors own 73.78% of the company’s stock.
Several equities research analysts recently weighed in on PBI shares. BidaskClub upgraded Pitney Bowes from a “sell” rating to a “hold” rating in a report on Saturday, August 26th. ValuEngine lowered Pitney Bowes from a “buy” rating to a “hold” rating in a report on Friday, September 1st. Zacks Investment Research upgraded Pitney Bowes from a “sell” rating to a “hold” rating in a report on Monday, September 4th. Finally, Loop Capital reduced their target price on Pitney Bowes from $14.00 to $12.00 and set a “hold” rating for the company in a report on Thursday, November 2nd. Two investment analysts have rated the stock with a sell rating, two have issued a hold rating and two have issued a buy rating to the company’s stock. The company currently has an average rating of “Hold” and an average target price of $14.50.
Shares of Pitney Bowes Inc. (NYSE PBI) traded up $0.09 during mid-day trading on Monday, hitting $10.91. The stock had a trading volume of 5,075,800 shares, compared to its average volume of 2,698,366. Pitney Bowes Inc. has a one year low of $9.50 and a one year high of $16.60. The firm has a market capitalization of $2,037.20, a price-to-earnings ratio of 7.04 and a beta of 1.12. The company has a current ratio of 1.42, a quick ratio of 1.37 and a debt-to-equity ratio of 35.49.
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 analysts’ consensus estimates 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 business had revenue of $842.82 million for the quarter, compared to analyst estimates of $837.60 million. During the same quarter last year, the firm earned $0.44 earnings per share. The firm’s quarterly revenue was up .5% compared to the same quarter last year. equities analysts expect that Pitney Bowes Inc. will post 1.38 EPS for the current fiscal year.
The firm also recently declared a quarterly dividend, which was paid on Tuesday, December 12th. Stockholders of record on Tuesday, November 21st were issued a dividend of $0.1875 per share. The ex-dividend date was Monday, November 20th. This represents a $0.75 dividend on an annualized basis and a dividend yield of 6.87%. Pitney Bowes’s dividend payout ratio (DPR) is presently 156.25%.
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Pitney Bowes Company 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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