Pitney Bowes (NYSE:PBI) Trading 4.3% Higher

Pitney Bowes Inc. (NYSE:PBI)’s share price was up 4.3% during trading on Wednesday . The stock traded as high as $4.89 and last traded at $4.87. Approximately 482,258 shares traded hands during trading, a decline of 68% from the average daily volume of 1,484,651 shares. The stock had previously closed at $4.67.

Analyst Upgrades and Downgrades

Separately, StockNews.com raised Pitney Bowes from a “hold” rating to a “buy” rating in a research report on Wednesday, May 22nd.

Pitney Bowes Trading Up 5.8 %

The firm has a 50-day simple moving average of $4.93 and a 200 day simple moving average of $4.42.

Pitney Bowes (NYSE:PBI) last announced its quarterly earnings data on Thursday, May 2nd. The technology company reported ($0.01) EPS for the quarter, beating the consensus estimate of ($0.04) by $0.03. The business had revenue of $831.00 million during the quarter, compared to analyst estimates of $797.00 million. Pitney Bowes had a negative return on equity of 3.09% and a negative net margin of 11.67%. The company’s revenue for the quarter was down .4% on a year-over-year basis. During the same quarter last year, the firm posted ($0.01) earnings per share. As a group, equities research analysts forecast that Pitney Bowes Inc. will post 0.02 EPS for the current fiscal year.

Pitney Bowes Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, June 7th. Stockholders of record on Thursday, May 23rd were issued a dividend of $0.05 per share. The ex-dividend date of this dividend was Wednesday, May 22nd. This represents a $0.20 annualized dividend and a dividend yield of 4.05%. Pitney Bowes’s payout ratio is presently -9.22%.

Institutional Investors Weigh In On Pitney Bowes

Several large investors have recently bought and sold shares of the business. William Howard & Co Financial Advisors Inc bought a new stake in shares of Pitney Bowes during the 1st quarter valued at about $52,000. Tidal Investments LLC purchased a new position in shares of Pitney Bowes during the 1st quarter valued at about $764,000. B. Riley Wealth Advisors Inc. lifted its position in shares of Pitney Bowes by 10.3% during the 1st quarter. B. Riley Wealth Advisors Inc. now owns 98,956 shares of the technology company’s stock valued at $428,000 after buying an additional 9,222 shares in the last quarter. Price T Rowe Associates Inc. MD lifted its position in shares of Pitney Bowes by 3.9% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 220,888 shares of the technology company’s stock valued at $957,000 after buying an additional 8,305 shares in the last quarter. Finally, Quadrature Capital Ltd lifted its position in shares of Pitney Bowes by 21.6% during the 1st quarter. Quadrature Capital Ltd now owns 66,247 shares of the technology company’s stock valued at $287,000 after buying an additional 11,753 shares in the last quarter. 67.88% of the stock is currently 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.