Cubist Systematic Strategies LLC Invests $2.95 Million in Pitney Bowes Inc. $PBI

Key Points

• Cubist Systematic Strategies LLC acquired 325,822 shares of Pitney Bowes Inc. for approximately $2.95 million, representing a 0.18% ownership as of its latest SEC filing.
• The company's quarterly earnings matched analysts' expectations at $0.27 per share, although revenue decreased by 5.7% year-over-year, hitting $461.91 million.
• Pitney Bowes announced an increase in its quarterly dividend to $0.08, reflecting a yield of 2.6%, and initiated a stock buyback program allowing up to $400 million in repurchases.

Cubist Systematic Strategies LLC acquired a new position in shares of Pitney Bowes Inc. (NYSE:PBI - Free Report) in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund acquired 325,822 shares of the technology company's stock, valued at approximately $2,949,000. Cubist Systematic Strategies LLC owned 0.18% of Pitney Bowes as of its most recent SEC filing.

A number of other institutional investors have also made changes to their positions in PBI. Quantbot Technologies LP acquired a new stake in shares of Pitney Bowes during the first quarter worth $36,000. KBC Group NV acquired a new position in Pitney Bowes in the first quarter valued at about $65,000. Universal Beteiligungs und Servicegesellschaft mbH acquired a new position in Pitney Bowes in the first quarter valued at about $98,000. PharVision Advisers LLC acquired a new position in Pitney Bowes in the fourth quarter valued at about $107,000. Finally, PFG Investments LLC grew its stake in Pitney Bowes by 14.6% in the first quarter. PFG Investments LLC now owns 12,884 shares of the technology company's stock valued at $117,000 after acquiring an additional 1,644 shares during the period. 67.88% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at Pitney Bowes

In other news, EVP Deborah Pfeiffer sold 35,000 shares of the stock in a transaction dated Monday, July 14th. The shares were sold at an average price of $12.14, for a total transaction of $424,900.00. Following the completion of the transaction, the executive vice president directly owned 115,405 shares in the company, valued at $1,401,016.70. This represents a 23.27% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Brent D. Rosenthal bought 3,000 shares of the company's stock in a transaction that occurred on Wednesday, September 3rd. The shares were bought at an average price of $11.97 per share, for a total transaction of $35,910.00. Following the acquisition, the director directly owned 3,000 shares of the company's stock, valued at $35,910. This represents a ∞ increase in their position. The disclosure for this purchase can be found here. Corporate insiders own 9.00% of the company's stock.

Pitney Bowes Price Performance

NYSE:PBI traded down $0.93 during trading hours on Tuesday, reaching $11.75. 7,925,185 shares of the stock were exchanged, compared to its average volume of 2,698,658. Pitney Bowes Inc. has a twelve month low of $6.22 and a twelve month high of $13.11. The stock has a market cap of $2.02 billion, a PE ratio of -19.58, a PEG ratio of 0.63 and a beta of 1.29. The firm has a 50 day moving average of $11.69 and a 200 day moving average of $10.25.

Pitney Bowes (NYSE:PBI - Get Free Report) last announced its quarterly earnings data on Wednesday, July 30th. The technology company reported $0.27 EPS for the quarter, hitting analysts' consensus estimates of $0.27. Pitney Bowes had a negative net margin of 5.60% and a negative return on equity of 38.01%. The business had revenue of $461.91 million for the quarter, compared to analyst estimates of $475.92 million. During the same quarter in the previous year, the firm posted $0.03 earnings per share. The firm's revenue for the quarter was down 5.7% on a year-over-year basis. Pitney Bowes has set its FY 2025 guidance at 1.200-1.400 EPS. Equities research analysts anticipate that Pitney Bowes Inc. will post 1.21 earnings per share for the current year.

Pitney Bowes declared that its board has authorized a stock repurchase plan on Wednesday, July 30th that permits the company to repurchase $400.00 million in shares. This repurchase authorization permits the technology company to repurchase up to 18.9% of its shares through open market purchases. Shares repurchase plans are usually a sign that the company's management believes its shares are undervalued.

Pitney Bowes Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, September 8th. Shareholders of record on Monday, August 11th were given a dividend of $0.08 per share. This is a boost from Pitney Bowes's previous quarterly dividend of $0.07. The ex-dividend date of this dividend was Monday, August 11th. This represents a $0.32 annualized dividend and a yield of 2.7%. Pitney Bowes's payout ratio is presently -53.33%.

Wall Street Analysts Forecast Growth

Separately, Wall Street Zen cut Pitney Bowes from a "strong-buy" rating to a "buy" rating in a research note on Friday, August 22nd. One investment analyst has rated the stock with a Hold rating, According to MarketBeat, the stock has an average rating of "Hold".

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.