Gotham Asset Management LLC Raises Stock Holdings in Pitney Bowes Inc. (NYSE:PBI)

Gotham Asset Management LLC grew its position in shares of Pitney Bowes Inc. (NYSE:PBI - Free Report) by 261.9% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 90,300 shares of the technology company's stock after purchasing an additional 65,347 shares during the quarter. Gotham Asset Management LLC's holdings in Pitney Bowes were worth $654,000 as of its most recent SEC filing.

Other large investors also recently modified their holdings of the company. James J. Burns & Company LLC boosted its stake in shares of Pitney Bowes by 9.7% in the 4th quarter. James J. Burns & Company LLC now owns 18,587 shares of the technology company's stock valued at $135,000 after purchasing an additional 1,637 shares in the last quarter. Envestnet Portfolio Solutions Inc. grew its stake in shares of Pitney Bowes by 11.6% during the fourth quarter. Envestnet Portfolio Solutions Inc. now owns 18,000 shares of the technology company's stock valued at $130,000 after buying an additional 1,878 shares during the last quarter. First Citizens Bank & Trust Co. lifted its stake in shares of Pitney Bowes by 10.8% in the 4th quarter. First Citizens Bank & Trust Co. now owns 20,677 shares of the technology company's stock valued at $150,000 after acquiring an additional 2,020 shares during the last quarter. Federated Hermes Inc. boosted its holdings in Pitney Bowes by 2.7% during the 4th quarter. Federated Hermes Inc. now owns 102,197 shares of the technology company's stock valued at $740,000 after acquiring an additional 2,711 shares during the period. Finally, Smartleaf Asset Management LLC boosted its holdings in Pitney Bowes by 130.3% during the 4th quarter. Smartleaf Asset Management LLC now owns 5,078 shares of the technology company's stock valued at $37,000 after acquiring an additional 2,873 shares during the period. 67.88% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several analysts have weighed in on PBI shares. Sidoti upgraded Pitney Bowes to a "hold" rating in a research report on Monday, May 5th. Wall Street Zen lowered shares of Pitney Bowes from a "strong-buy" rating to a "buy" rating in a report on Thursday, May 15th.

Insiders Place Their Bets

In related news, Director Kurt James Wolf sold 481,199 shares of the company's stock in a transaction dated Monday, March 3rd. The shares were sold at an average price of $10.77, for a total value of $5,182,513.23. Following the transaction, the director now owns 584,636 shares in the company, valued at $6,296,529.72. The trade was a 45.15% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, EVP James Arthur Fairweather sold 130,000 shares of the stock in a transaction dated Wednesday, February 26th. The shares were sold at an average price of $10.83, for a total transaction of $1,407,900.00. Following the sale, the executive vice president now directly owns 176,145 shares in the company, valued at $1,907,650.35. This trade represents a 42.46% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 613,244 shares of company stock worth $6,607,591. 9.00% of the stock is owned by corporate insiders.

Pitney Bowes Price Performance

NYSE:PBI traded down $0.03 during mid-day trading on Friday, reaching $9.93. 1,258,849 shares of the company's stock traded hands, compared to its average volume of 2,098,523. The company has a 50 day moving average price of $8.82 and a 200-day moving average price of $8.53. The firm has a market capitalization of $1.82 billion, a price-to-earnings ratio of -8.89, a PEG ratio of 0.59 and a beta of 1.47. Pitney Bowes Inc. has a 12-month low of $4.62 and a 12-month high of $11.01.

Pitney Bowes (NYSE:PBI - Get Free Report) last issued its quarterly earnings data on Wednesday, May 7th. The technology company reported $0.33 earnings per share for the quarter, topping analysts' consensus estimates of $0.28 by $0.05. The firm had revenue of $493.42 million for the quarter, compared to analyst estimates of $498.99 million. Pitney Bowes had a negative return on equity of 20.95% and a negative net margin of 7.71%. The business's quarterly revenue was down 5.3% compared to the same quarter last year. During the same period last year, the company earned ($0.01) EPS. As a group, analysts forecast that Pitney Bowes Inc. will post 1.21 EPS for the current year.

Pitney Bowes Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, June 6th. Investors of record on Monday, May 19th will be paid a $0.07 dividend. This represents a $0.28 annualized dividend and a yield of 2.82%. This is a boost from Pitney Bowes's previous quarterly dividend of $0.06. The ex-dividend date of this dividend is Monday, May 19th. Pitney Bowes's dividend payout ratio is presently -30.77%.

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.