Paul J. Evans Acquires 29,000 Shares of Pitney Bowes Inc. (NYSE:PBI) Stock

Pitney Bowes Inc. (NYSE:PBI) Director Paul J. Evans purchased 29,000 shares of the firm’s stock in a transaction dated Wednesday, November 20th. The stock was bought at an average cost of $7.80 per share, for a total transaction of $226,200.00. Following the acquisition, the director now directly owns 29,000 shares in the company, valued at approximately $226,200. The trade was a ∞ increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is available at this hyperlink.

Pitney Bowes Stock Performance

PBI stock opened at $8.05 on Friday. Pitney Bowes Inc. has a 52 week low of $3.68 and a 52 week high of $8.80. The firm’s fifty day moving average is $7.21 and its 200 day moving average is $6.45. The firm has a market cap of $1.46 billion, a P/E ratio of -3.69, a P/E/G ratio of 1.35 and a beta of 1.97.

Pitney Bowes (NYSE:PBI) last announced its quarterly earnings results on Friday, November 8th. The technology company reported $0.21 earnings per share for the quarter, beating the consensus estimate of $0.13 by $0.08. The business had revenue of $499.46 million during the quarter, compared to analysts’ expectations of $467.80 million. Pitney Bowes had a negative net margin of 13.02% and a negative return on equity of 12.85%. As a group, analysts forecast that Pitney Bowes Inc. will post 0.38 EPS for the current year.

Pitney Bowes Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, December 6th. Investors of record on Monday, November 18th will be given a dividend of $0.05 per share. The ex-dividend date is Monday, November 18th. This represents a $0.20 dividend on an annualized basis and a yield of 2.48%. Pitney Bowes’s dividend payout ratio (DPR) is currently -9.17%.

Analysts Set New Price Targets

Separately, StockNews.com lowered shares of Pitney Bowes from a “strong-buy” rating to a “buy” rating in a report on Wednesday, August 21st.

Institutional Inflows and Outflows

A number of large investors have recently bought and sold shares of the business. ProShare Advisors LLC increased its stake in Pitney Bowes by 7.5% during the 1st quarter. ProShare Advisors LLC now owns 34,900 shares of the technology company’s stock valued at $151,000 after purchasing an additional 2,440 shares in the last quarter. Quadrature Capital Ltd increased its holdings in Pitney Bowes by 21.6% during the first 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 during the last quarter. Price T Rowe Associates Inc. MD increased its holdings in Pitney Bowes by 3.9% during the first 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 during the last quarter. B. Riley Wealth Advisors Inc. increased its holdings in Pitney Bowes by 10.3% during the first 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 during the last quarter. Finally, Tidal Investments LLC bought a new position in shares of Pitney Bowes in the first quarter worth approximately $764,000. 67.88% of the stock is owned by hedge funds and other institutional investors.

Pitney Bowes Company Profile

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.