Pitney Bowes Inc. (NYSE:PBI) Shares Purchased by GAMMA Investing LLC

GAMMA Investing LLC raised its stake in shares of Pitney Bowes Inc. (NYSE:PBI - Free Report) by 1,030.5% in the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 30,716 shares of the technology company's stock after acquiring an additional 27,999 shares during the period. GAMMA Investing LLC's holdings in Pitney Bowes were worth $278,000 as of its most recent SEC filing.

A number of other hedge funds also recently added to or reduced their stakes in the stock. Vanguard Group Inc. boosted its holdings in shares of Pitney Bowes by 6.5% in the fourth quarter. Vanguard Group Inc. now owns 21,162,512 shares of the technology company's stock valued at $153,217,000 after acquiring an additional 1,299,716 shares in the last quarter. First Trust Advisors LP acquired a new stake in Pitney Bowes in the fourth quarter valued at about $6,245,000. Millennium Management LLC lifted its position in Pitney Bowes by 103.0% in the fourth quarter. Millennium Management LLC now owns 1,269,207 shares of the technology company's stock valued at $9,189,000 after purchasing an additional 644,002 shares during the period. PEAK6 LLC purchased a new stake in Pitney Bowes in the 4th quarter valued at approximately $3,547,000. Finally, Victory Capital Management Inc. increased its position in Pitney Bowes by 1,356.4% during the 4th quarter. Victory Capital Management Inc. now owns 474,107 shares of the technology company's stock worth $3,433,000 after purchasing an additional 441,553 shares during the period. 67.88% of the stock is owned by institutional investors and hedge funds.

Pitney Bowes Stock Down 1.8%

Shares of PBI opened at $10.21 on Friday. The company has a 50-day simple moving average of $9.46 and a 200-day simple moving average of $8.91. The company has a market capitalization of $1.87 billion, a PE ratio of -11.21, a P/E/G ratio of 0.55 and a beta of 1.61. Pitney Bowes Inc. has a 52-week low of $4.62 and a 52-week high of $11.01.

Pitney Bowes (NYSE:PBI - Get Free Report) last issued its earnings results on Wednesday, May 7th. The technology company reported $0.33 earnings per share for the quarter, topping the consensus estimate of $0.28 by $0.05. Pitney Bowes had a negative net margin of 7.18% and a negative return on equity of 31.61%. The company had revenue of $493.42 million for the quarter, compared to analyst estimates of $498.99 million. During the same period in the prior year, the business posted ($0.01) earnings per share. The firm's revenue for the quarter was down 5.3% compared to the same quarter last year. On average, research analysts anticipate that Pitney Bowes Inc. will post 1.21 EPS for the current year.

Pitney Bowes Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, June 6th. Investors of record on Monday, May 19th were paid a $0.07 dividend. This is an increase from Pitney Bowes's previous quarterly dividend of $0.06. This represents a $0.28 annualized dividend and a yield of 2.74%. The ex-dividend date of this dividend was Monday, May 19th. Pitney Bowes's dividend payout ratio (DPR) is presently -30.77%.

Analyst Upgrades and Downgrades

A number of brokerages have recently issued reports on PBI. Sidoti raised Pitney Bowes to a "hold" rating in a research note on Monday, May 5th. Wall Street Zen lowered Pitney Bowes from a "strong-buy" rating to a "buy" rating in a report on Thursday, May 15th.

Pitney Bowes 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.

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