Pitney Bowes Inc. (NYSE:PBI) Shares Sold by Clifford Capital Partners LLC

Clifford Capital Partners LLC decreased its holdings in shares of Pitney Bowes Inc. (NYSE:PBI) by 25.4% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,734,111 shares of the technology company’s stock after selling 930,972 shares during the period. Pitney Bowes accounts for about 3.9% of Clifford Capital Partners LLC’s portfolio, making the stock its 4th biggest position. Clifford Capital Partners LLC owned 1.50% of Pitney Bowes worth $19,494,000 at the end of the most recent quarter.

Several other large investors have also added to or reduced their stakes in the business. Bank of New York Mellon Corp grew its stake in shares of Pitney Bowes by 1.0% in the 2nd quarter. Bank of New York Mellon Corp now owns 2,116,838 shares of the technology company’s stock valued at $10,754,000 after buying an additional 21,811 shares during the period. Assenagon Asset Management S.A. grew its stake in Pitney Bowes by 2,894.2% in the third quarter. Assenagon Asset Management S.A. now owns 1,228,562 shares of the technology company’s stock valued at $8,760,000 after acquiring an additional 1,187,531 shares during the period. Marshall Wace LLP increased its holdings in shares of Pitney Bowes by 248.1% during the second quarter. Marshall Wace LLP now owns 706,302 shares of the technology company’s stock valued at $3,588,000 after acquiring an additional 503,378 shares in the last quarter. Renaissance Technologies LLC raised its position in shares of Pitney Bowes by 3.8% during the second quarter. Renaissance Technologies LLC now owns 519,571 shares of the technology company’s stock worth $2,639,000 after purchasing an additional 19,000 shares during the period. Finally, Rhumbline Advisers lifted its holdings in shares of Pitney Bowes by 2.1% in the 2nd quarter. Rhumbline Advisers now owns 508,038 shares of the technology company’s stock worth $2,581,000 after purchasing an additional 10,646 shares in the last quarter. Institutional investors and hedge funds own 67.88% of the company’s stock.

Wall Street Analyst Weigh In

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

Insider Activity

In other Pitney Bowes news, Director Paul J. Evans purchased 29,000 shares of the firm’s stock in a transaction that occurred on Wednesday, November 20th. The stock was bought at an average cost of $7.80 per share, with a total value of $226,200.00. Following the completion of the transaction, the director now owns 29,000 shares of the company’s stock, valued at $226,200. The trade was a ∞ increase in their position. The purchase was disclosed in a legal filing with the SEC, which is accessible through this link. 14.30% of the stock is currently owned by corporate insiders.

Pitney Bowes Stock Performance

PBI stock opened at $8.20 on Wednesday. The business has a 50-day simple moving average of $7.27 and a two-hundred day simple moving average of $6.51. The company has a market capitalization of $1.49 billion, a P/E ratio of -3.76, a price-to-earnings-growth ratio of 1.43 and a beta of 1.97. Pitney Bowes Inc. has a 52-week low of $3.68 and a 52-week high of $8.80.

Pitney Bowes (NYSE:PBI) last announced its earnings results on Friday, November 8th. The technology company reported $0.21 earnings per share (EPS) for the quarter, beating 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 company had revenue of $499.46 million for the quarter, compared to analysts’ expectations of $467.80 million. As a group, sell-side analysts forecast that Pitney Bowes Inc. will post 0.38 earnings per share for the current fiscal year.

Pitney Bowes Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, December 6th. Stockholders of record on Monday, November 18th will be paid a $0.05 dividend. The ex-dividend date is Monday, November 18th. This represents a $0.20 annualized dividend and a dividend yield of 2.44%. Pitney Bowes’s payout ratio is -9.17%.

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.