Cibc World Market Inc. Invests $14.03 Million in Pitney Bowes Inc. $PBI

Key Points

• CIBC World Market Inc. purchased 800,667 Pitney Bowes shares worth approximately $14.03 million, giving it a 0.58% stake. Institutional investors collectively own 67.88% of the company.
• Pitney Bowes exceeded quarterly earnings expectations, reporting $0.43 in EPS versus the $0.34 consensus estimate, although revenue declined 2.4% year over year to $451.5 million.
• Analyst sentiment improved to a “Moderate Buy,” with a consensus price target of $18.45, but insiders sold 2.44 million shares worth $42.6 million during the quarter.

Cibc World Market Inc. bought a new stake in shares of Pitney Bowes Inc. (NYSE:PBI - Free Report) during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund bought 800,667 shares of the technology company's stock, valued at approximately $14,028,000. Cibc World Market Inc. owned approximately 0.58% of Pitney Bowes as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Sanctuary Advisors LLC purchased a new position in shares of Pitney Bowes in the second quarter valued at $223,000. Northwestern Mutual Wealth Management Co. bought a new stake in shares of Pitney Bowes in the 2nd quarter worth about $93,000. Allworth Financial LP bought a new stake in Pitney Bowes in the second quarter worth about $392,000. Denali Advisors LLC purchased a new position in Pitney Bowes during the 2nd quarter valued at $2,625,000. Finally, Empirical Asset Management LLC bought a new stake in shares of Pitney Bowes during the second quarter worth $321,000. Institutional investors own 67.88% of the company's stock.

Pitney Bowes Stock Up 0.4%

Shares of PBI stock opened at $16.55 on Tuesday. The company's 50 day moving average is $17.44 and its 200 day moving average is $14.53. The firm has a market cap of $2.27 billion, a price-to-earnings ratio of 13.57, a PEG ratio of 0.66 and a beta of 1.63. Pitney Bowes Inc. has a 52-week low of $8.95 and a 52-week high of $19.07.

• Pitney Bowes NYSE: PBI is Surging, Is it Too Risky?

Pitney Bowes (NYSE:PBI - Get Free Report) last announced its earnings results on Wednesday, July 29th. The technology company reported $0.43 earnings per share for the quarter, beating the consensus estimate of $0.34 by $0.09. The company had revenue of $451.50 million during the quarter, compared to the consensus estimate of $453.94 million. Pitney Bowes had a net margin of 10.04% and a negative return on equity of 31.37%. Pitney Bowes's revenue was down 2.4% compared to the same quarter last year. During the same period last year, the firm earned $0.27 earnings per share. Pitney Bowes has set its FY 2026 guidance at 1.550-1.700 EPS. Analysts anticipate that Pitney Bowes Inc. will post 1.68 EPS for the current fiscal year.

Pitney Bowes Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, September 8th. Investors of record on Monday, August 10th will be issued a $0.01 dividend. This represents a $0.04 annualized dividend and a yield of 0.2%. The ex-dividend date is Monday, August 10th. Pitney Bowes's dividend payout ratio is 32.79%.

Insider Activity at Pitney Bowes

In related news, EVP Todd A. Everett sold 25,000 shares of the firm's stock in a transaction on Wednesday, August 5th. The shares were sold at an average price of $18.07, for a total transaction of $451,750.00. Following the completion of the transaction, the executive vice president owned 96,048 shares of the company's stock, valued at $1,735,587.36. This trade represents a 20.65% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO Kurt James Wolf sold 430,443 shares of the stock in a transaction dated Thursday, July 30th. The stock was sold at an average price of $18.23, for a total value of $7,846,975.89. Following the sale, the chief executive officer directly owned 179,190 shares in the company, valued at $3,266,633.70. This represents a 70.61% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last quarter, insiders sold 2,435,900 shares of company stock worth $42,634,452. 6.50% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

A number of research firms have recently commented on PBI. Zacks Research upgraded shares of Pitney Bowes from a "hold" rating to a "strong-buy" rating in a report on Monday, August 10th. Citizens Jmp boosted their price objective on shares of Pitney Bowes from $19.00 to $22.00 and gave the company a "market outperform" rating in a research report on Friday, July 31st. Weiss Ratings raised shares of Pitney Bowes from a "hold (c+)" rating to a "buy (b-)" rating in a research report on Friday, July 31st. Bank of America upgraded shares of Pitney Bowes from an "underperform" rating to a "neutral" rating and upped their target price for the stock from $9.50 to $16.50 in a research note on Monday, May 11th. Finally, Truist Financial raised their target price on shares of Pitney Bowes from $15.00 to $18.00 and gave the stock a "hold" rating in a research report on Friday, July 31st. One equities research analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating and three have issued a Hold rating to the company's stock. According to data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $18.45.

Pitney Bowes Company Profile

Pitney Bowes Inc NYSE: PBI is an American technology company that specializes in shipping, mailing, and e-commerce solutions. Founded in 1920 by Walter Bowes and Arthur Pitney, the company pioneered postage meter technology and has since evolved to offer a broad portfolio of hardware, software, and services designed to streamline physical and digital communications. Headquartered in Stamford, Connecticut, Pitney Bowes leverages a century of expertise to serve enterprises, small businesses, and government agencies around the globe.

The company's core offerings span mailing and shipping equipment, including postage meters, folder inserters, and address verification systems, alongside integrated software platforms for customer information management, data analytics, and location intelligence.

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