Pitney Bowes (NYSE:PBI) Trading 4.3% Higher

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

Wall Street Analyst Weigh In

Separately, StockNews.com upgraded 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 business has a fifty day simple moving average of $4.93 and a 200 day simple moving average of $4.42.

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

Pitney Bowes Dividend Announcement

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

Institutional Trading of Pitney Bowes

Several hedge funds have recently modified their holdings of PBI. Assenagon Asset Management S.A. raised its stake in shares of Pitney Bowes by 164.9% in the fourth quarter. Assenagon Asset Management S.A. now owns 1,738,793 shares of the technology company’s stock valued at $7,651,000 after acquiring an additional 1,082,506 shares in the last quarter. Steward Partners Investment Solutions LLC acquired a new stake in Pitney Bowes in the fourth quarter valued at $1,869,000. Hsbc Holdings PLC raised its stake in Pitney Bowes by 58.2% in the fourth quarter. Hsbc Holdings PLC now owns 950,496 shares of the technology company’s stock valued at $4,145,000 after buying an additional 349,599 shares in the last quarter. Invesco Ltd. raised its stake in Pitney Bowes by 13.3% in the third quarter. Invesco Ltd. now owns 2,732,113 shares of the technology company’s stock valued at $8,251,000 after buying an additional 321,438 shares in the last quarter. Finally, GSA Capital Partners LLP raised its stake in Pitney Bowes by 301.6% in the third quarter. GSA Capital Partners LLP now owns 378,503 shares of the technology company’s stock valued at $1,143,000 after buying an additional 284,244 shares in the last quarter. 67.88% of the stock is currently owned by institutional investors and hedge funds.

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.