Pitney Bowes Inc. $PBI Shares Sold by Intech Investment Management LLC

Key Points

• Intech Investment Management cut its Pitney Bowes stake by 71% in the fourth quarter, selling 329,705 shares and ending with 134,974 shares worth about $1.43 million.
• Pitney Bowes saw notable insider selling and buying: CEO Kurt James Wolf sold 966,561 shares in May, while Director Brent D. Rosenthal bought 4,000 shares in March. Over the last three months, insiders sold 2.37 million shares total.
• Analysts have turned more positive on the stock, with several upgrades and a consensus rating of Moderate Buy; the average price target is $16.43 versus a recent share price of $16.85.

Intech Investment Management LLC trimmed its position in shares of Pitney Bowes Inc. (NYSE:PBI - Free Report) by 71.0% in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 134,974 shares of the technology company's stock after selling 329,705 shares during the period. Intech Investment Management LLC owned 0.08% of Pitney Bowes worth $1,427,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the stock. Hantz Financial Services Inc. raised its position in shares of Pitney Bowes by 190.9% during the 4th quarter. Hantz Financial Services Inc. now owns 3,747 shares of the technology company's stock worth $40,000 after buying an additional 2,459 shares in the last quarter. Catalyst Funds Management Pty Ltd bought a new stake in shares of Pitney Bowes during the 4th quarter worth about $133,000. Mizuho Markets Americas LLC raised its position in shares of Pitney Bowes by 1.4% during the 4th quarter. Mizuho Markets Americas LLC now owns 682,808 shares of the technology company's stock worth $7,217,000 after buying an additional 9,420 shares in the last quarter. LSV Asset Management raised its position in shares of Pitney Bowes by 246.7% during the 4th quarter. LSV Asset Management now owns 4,197,189 shares of the technology company's stock worth $44,364,000 after buying an additional 2,986,689 shares in the last quarter. Finally, FourThought Financial Partners LLC bought a new stake in shares of Pitney Bowes during the 4th quarter worth about $157,000. 67.88% of the stock is currently owned by institutional investors.

Insider Activity at Pitney Bowes

In related news, CEO Kurt James Wolf sold 966,561 shares of the business's stock in a transaction that occurred on Wednesday, May 6th. The shares were sold at an average price of $14.58, for a total transaction of $14,092,459.38. Following the transaction, the chief executive officer directly owned 452,628 shares of the company's stock, valued at approximately $6,599,316.24. The trade was a 68.11% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director Brent D. Rosenthal acquired 4,000 shares of the stock in a transaction that occurred on Friday, March 13th. The shares were bought at an average cost of $10.22 per share, for a total transaction of $40,880.00. Following the completion of the transaction, the director directly owned 9,000 shares of the company's stock, valued at $91,980. This represents a 80.00% increase in their position. Additional details regarding this purchase are available in the official SEC disclosure. Over the last three months, insiders have sold 2,365,280 shares of company stock valued at $34,252,541. Corporate insiders own 6.50% of the company's stock.

Analyst Upgrades and Downgrades

A number of analysts have commented on the stock. Zacks Research upgraded shares of Pitney Bowes from a "hold" rating to a "strong-buy" rating in a research report on Thursday, May 7th. Wall Street Zen upgraded shares of Pitney Bowes from a "buy" rating to a "strong-buy" rating in a research report on Saturday, April 25th. Truist Financial boosted their price target on shares of Pitney Bowes from $11.00 to $15.00 and gave the stock a "hold" rating in a research report on Thursday, May 7th. Bank of America upgraded shares of Pitney Bowes from an "underperform" rating to a "neutral" rating and boosted their price target for the stock from $9.50 to $16.50 in a research report on Monday, May 11th. Finally, The Goldman Sachs Group set a $15.20 price target on shares of Pitney Bowes in a research report on Friday, May 8th. One research analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating and four have issued a Hold rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $16.43.

Pitney Bowes Price Performance

Pitney Bowes stock opened at $16.85 on Friday. The firm's 50 day simple moving average is $14.20 and its 200-day simple moving average is $11.68. The company has a market cap of $2.28 billion, a P/E ratio of 16.36, a price-to-earnings-growth ratio of 0.75 and a beta of 1.63. Pitney Bowes Inc. has a fifty-two week low of $8.95 and a fifty-two week high of $17.13.

Pitney Bowes (NYSE:PBI - Get Free Report) last released its earnings results on Tuesday, May 5th. The technology company reported $0.47 earnings per share for the quarter, hitting the consensus estimate of $0.47. The business had revenue of $477.41 million for the quarter, compared to the consensus estimate of $471.83 million. Pitney Bowes had a net margin of 8.92% and a negative return on equity of 33.41%. The firm's quarterly revenue was down 3.2% compared to the same quarter last year. During the same period last year, the firm posted $0.33 earnings per share. On average, analysts expect that Pitney Bowes Inc. will post 1.62 EPS for the current fiscal year.

Pitney Bowes Cuts Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, June 5th. Investors of record on Monday, May 18th were given a dividend of $0.01 per share. The ex-dividend date of this dividend was Monday, May 18th. This represents a $0.04 dividend on an annualized basis and a yield of 0.2%. Pitney Bowes's payout ratio is presently 38.83%.

Pitney Bowes 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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