Pitney Bowes (NYSE:PBI) Trading 6.8% Higher – Here’s Why

Shares of Pitney Bowes Inc. (NYSE:PBI) were up 6.8% during trading on Thursday . The company traded as high as $7.83 and last traded at $7.82. Approximately 604,947 shares were traded during mid-day trading, a decline of 60% from the average daily volume of 1,524,496 shares. The stock had previously closed at $7.32.

Pitney Bowes Trading Up 3.1 %

The company has a market cap of $1.54 billion, a price-to-earnings ratio of -3.90, a price-to-earnings-growth ratio of 0.45 and a beta of 2.00. The company has a fifty day moving average price of $7.58 and a two-hundred day moving average price of $7.16.

Pitney Bowes (NYSE:PBI) last issued its earnings results on Friday, November 8th. The technology company reported $0.21 EPS for the quarter, topping the consensus estimate of $0.13 by $0.08. Pitney Bowes had a negative return on equity of 12.85% and a negative net margin of 13.02%. The firm had revenue of $499.46 million during the quarter, compared to analysts’ expectations of $467.80 million. Sell-side analysts anticipate that Pitney Bowes Inc. will post 0.38 EPS for the current fiscal year.

Pitney Bowes Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, December 6th. Investors of record on Monday, November 18th were given a $0.05 dividend. This represents a $0.20 annualized dividend and a yield of 2.35%. The ex-dividend date of this dividend was Monday, November 18th. Pitney Bowes’s dividend payout ratio (DPR) is presently -9.17%.

Insiders Place Their Bets

In related news, Director Paul J. Evans acquired 29,000 shares of the company’s stock in a transaction on Wednesday, November 20th. The stock was purchased at an average cost of $7.80 per share, for a total transaction of $226,200.00. Following the completion of the purchase, the director now directly owns 29,000 shares of the company’s stock, valued at $226,200. The trade was a ∞ increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Lauren Freemen-Bosworth sold 42,308 shares of the business’s stock in a transaction on Friday, November 29th. The shares were sold at an average price of $8.12, for a total transaction of $343,540.96. Following the completion of the sale, the executive vice president now owns 18,664 shares in the company, valued at $151,551.68. This represents a 69.39 % decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 14.30% of the company’s stock.

Institutional Trading of Pitney Bowes

Several large investors have recently added to or reduced their stakes in the company. First Citizens Bank & Trust Co. boosted its holdings in shares of Pitney Bowes by 10.8% in the 4th quarter. First Citizens Bank & Trust Co. now owns 20,677 shares of the technology company’s stock worth $150,000 after acquiring an additional 2,020 shares in the last quarter. Westside Investment Management Inc. raised its position in Pitney Bowes by 0.5% in the 4th quarter. Westside Investment Management Inc. now owns 625,939 shares of the technology company’s stock valued at $4,532,000 after purchasing an additional 3,100 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank boosted its stake in Pitney Bowes by 10.8% in the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 48,663 shares of the technology company’s stock worth $347,000 after purchasing an additional 4,728 shares in the last quarter. nVerses Capital LLC grew its holdings in shares of Pitney Bowes by 59.6% during the third quarter. nVerses Capital LLC now owns 15,000 shares of the technology company’s stock worth $107,000 after purchasing an additional 5,600 shares during the last quarter. Finally, Quarry LP grew its holdings in shares of Pitney Bowes by 889.2% during the third quarter. Quarry LP now owns 8,319 shares of the technology company’s stock worth $59,000 after purchasing an additional 7,478 shares during the last quarter. 67.88% of the stock is owned by institutional investors.

About Pitney Bowes

Pitney Bowes Inc, a shipping and mailing company, provides technology, logistics, and financial services to small and medium-sized businesses, large enterprises, retailers, and government clients in the United States and internationally. It operates through Global Ecommerce, Presort Services, and SendTech Solutions segments.