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

Pitney Bowes Inc. (NYSE:PBI) Director Paul J. Evans acquired 29,000 shares of the firm’s stock in a transaction that occurred on Wednesday, November 20th. The shares were purchased at an average price of $7.80 per share, with a total value of $226,200.00. Following the acquisition, the director now owns 29,000 shares of the company’s stock, valued at approximately $226,200. This trade represents a ∞ increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website.

Pitney Bowes Price Performance

Shares of Pitney Bowes stock traded up $0.36 during trading on Friday, hitting $8.05. 2,421,363 shares of the company’s stock traded hands, compared to its average volume of 1,758,095. The business has a 50-day simple moving average of $7.19 and a 200-day simple moving average of $6.43. Pitney Bowes Inc. has a 1 year low of $3.68 and a 1 year high of $8.80. The stock has a market capitalization of $1.46 billion, a P/E ratio of -3.53, a PEG ratio of 1.36 and a beta of 1.97.

Pitney Bowes (NYSE:PBI) last posted its quarterly earnings results on Friday, November 8th. The technology company reported $0.21 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.13 by $0.08. The business had revenue of $499.46 million for the quarter, compared to the consensus estimate of $467.80 million. Pitney Bowes had a negative return on equity of 12.85% and a negative net margin of 13.02%. On average, equities analysts predict 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. Shareholders of record on Monday, November 18th will be given a $0.05 dividend. This represents a $0.20 annualized dividend and a yield of 2.48%. The ex-dividend date of this dividend is Monday, November 18th. Pitney Bowes’s dividend payout ratio is currently -9.17%.

Institutional Trading of Pitney Bowes

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. nVerses Capital LLC purchased a new stake in Pitney Bowes during the 2nd quarter worth about $48,000. William Howard & Co Financial Advisors Inc acquired a new position in Pitney Bowes during the first quarter valued at approximately $52,000. Point72 DIFC Ltd grew its holdings in shares of Pitney Bowes by 218.0% during the 2nd quarter. Point72 DIFC Ltd now owns 11,405 shares of the technology company’s stock worth $58,000 after purchasing an additional 7,819 shares in the last quarter. Quarry LP increased its stake in shares of Pitney Bowes by 889.2% in the third quarter. Quarry LP now owns 8,319 shares of the technology company’s stock valued at $59,000 after buying an additional 7,478 shares in the last quarter. Finally, Envestnet Portfolio Solutions Inc. raised its position in shares of Pitney Bowes by 15.6% during the second quarter. Envestnet Portfolio Solutions Inc. now owns 15,189 shares of the technology company’s stock worth $77,000 after acquiring an additional 2,054 shares during the last quarter. Institutional investors and hedge funds own 67.88% of the company’s stock.

Wall Street Analysts Forecast Growth

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

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.