Pitney Bowes (NYSE:PBI) Hits New 12-Month High at $5.07

Pitney Bowes Inc. (NYSE:PBI - Get Free Report) shares reached a new 52-week high on Thursday . The stock traded as high as $5.07 and last traded at $5.04, with a volume of 1403481 shares changing hands. The stock had previously closed at $4.21.

Wall Street Analysts Forecast Growth

Separately, StockNews.com cut shares of Pitney Bowes from a "buy" rating to a "hold" rating in a report on Monday, February 5th.

Pitney Bowes Stock Up 24.7 %

The stock has a market capitalization of $932.77 million, a PE ratio of -2.16, a PEG ratio of 28.40 and a beta of 2.14. The firm's fifty day moving average price is $4.12 and its two-hundred day moving average price is $4.05.

Pitney Bowes (NYSE:PBI - Get Free Report) last announced its earnings results on Thursday, February 1st. The technology company reported $0.07 EPS for the quarter, beating analysts' consensus estimates of $0.02 by $0.05. Pitney Bowes had a negative net margin of 11.81% and a negative return on equity of 4.75%. The business had revenue of $871.58 million during the quarter, compared to analysts' expectations of $849.85 million. During the same period in the prior year, the company earned $0.06 earnings per share. The firm's revenue was down 4.1% on a year-over-year basis. As a group, analysts predict that Pitney Bowes Inc. will post 0.01 EPS for the current year.

Hedge Funds Weigh In On Pitney Bowes

A number of hedge funds have recently modified their holdings of the company. Invesco Ltd. boosted its position in shares of Pitney Bowes by 13.3% during the third quarter. Invesco Ltd. now owns 2,732,113 shares of the technology company's stock worth $8,251,000 after acquiring an additional 321,438 shares during the last quarter. Assenagon Asset Management S.A. raised its stake in shares of Pitney Bowes by 164.9% in the fourth quarter. Assenagon Asset Management S.A. now owns 1,738,793 shares of the technology company's stock valued at $7,651,000 after acquiring an additional 1,082,506 shares during the period. GSA Capital Partners LLP raised its stake in shares of Pitney Bowes by 301.6% in the third quarter. GSA Capital Partners LLP now owns 378,503 shares of the technology company's stock valued at $1,143,000 after acquiring an additional 284,244 shares during the period. Barclays PLC raised its stake in shares of Pitney Bowes by 2.8% in the third quarter. Barclays PLC now owns 155,396 shares of the technology company's stock valued at $469,000 after acquiring an additional 4,293 shares during the period. Finally, First Citizens Bank & Trust Co. raised its stake in shares of Pitney Bowes by 20.8% in the fourth quarter. First Citizens Bank & Trust Co. now owns 16,016 shares of the technology company's stock valued at $70,000 after acquiring an additional 2,753 shares during the period. 67.88% of the stock is currently owned by institutional investors.

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.