Pitney Bowes (NYSE:PBI) Hits New 12-Month High - Should You Buy?

Key Points

• Pitney Bowes shares hit a new 52-week high, trading as high as $18.25 amid elevated volume, reflecting strong recent momentum in the stock.
• Analyst sentiment has improved, with multiple firms raising ratings or price targets; the consensus view is now Moderate Buy with an average target of $16.43.
• The company posted quarterly earnings of $0.47 per share, matching expectations and beating revenue estimates, though insiders have been heavy sellers in recent months.

Shares of Pitney Bowes Inc. (NYSE:PBI - Get Free Report) hit a new 52-week high during trading on Monday . The company traded as high as $18.25 and last traded at $18.0150, with a volume of 625363 shares trading hands. The stock had previously closed at $18.12.

Analyst Upgrades and Downgrades

Several research firms recently weighed in on PBI. Bank of America raised shares of Pitney Bowes from an "underperform" rating to a "neutral" rating and lifted their price objective for the stock from $9.50 to $16.50 in a research note on Monday, May 11th. 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. The Goldman Sachs Group set a $15.20 price objective on Pitney Bowes in a report on Friday, May 8th. Weiss Ratings upgraded shares of Pitney Bowes from a "hold (c)" rating to a "hold (c+)" rating in a research note on Friday, May 8th. Finally, Citizens Jmp upped their price target on shares of Pitney Bowes from $17.00 to $19.00 and gave the company a "market outperform" rating in a research report on Friday, June 5th. One investment 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 company's stock. According to data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average price target of $16.43.

Pitney Bowes Trading Down 0.2%

The firm has a market cap of $2.45 billion, a P/E ratio of 17.56, a PEG ratio of 0.81 and a beta of 1.63. The business's fifty day simple moving average is $16.01 and its 200-day simple moving average is $12.49.

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

Pitney Bowes Cuts Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, June 5th. Shareholders of record on Monday, May 18th were paid 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 dividend yield of 0.2%. Pitney Bowes's dividend payout ratio (DPR) is currently 38.83%.

Insider Activity at Pitney Bowes

In other news, EVP Deborah Pfeiffer sold 18,750 shares of the business's stock in a transaction on Friday, May 29th. The shares were sold at an average price of $16.06, for a total transaction of $301,125.00. Following the completion of the sale, the executive vice president owned 97,828 shares of the company's stock, valued at $1,571,117.68. The trade was a 16.08% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, CEO Kurt James Wolf sold 322,829 shares of Pitney Bowes stock in a transaction on Friday, June 12th. The shares were sold at an average price of $17.40, for a total value of $5,617,224.60. Following the transaction, the chief executive officer owned 264,922 shares in the company, valued at $4,609,642.80. This trade represents a 54.93% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 3,030,097 shares of company stock valued at $46,661,100 over the last 90 days. 6.50% of the stock is currently owned by company insiders.

Institutional Trading of Pitney Bowes

Several hedge funds have recently made changes to their positions in PBI. Capital Management Corp VA lifted its stake in shares of Pitney Bowes by 25.3% in the 4th quarter. Capital Management Corp VA now owns 2,930,328 shares of the technology company's stock valued at $30,974,000 after purchasing an additional 592,568 shares during the last quarter. TABR Capital Management LLC purchased a new position in Pitney Bowes during the fourth quarter worth $807,000. WINTON GROUP Ltd raised its stake in shares of Pitney Bowes by 3,377.0% in the third quarter. WINTON GROUP Ltd now owns 473,223 shares of the technology company's stock valued at $5,399,000 after acquiring an additional 459,613 shares during the period. Neo Ivy Capital Management bought a new stake in shares of Pitney Bowes in the 3rd quarter worth about $3,962,000. Finally, Intech Investment Management LLC grew its holdings in Pitney Bowes by 130.6% during the 3rd quarter. Intech Investment Management LLC now owns 464,679 shares of the technology company's stock valued at $5,302,000 after purchasing an additional 263,173 shares during the last quarter. 67.88% of the stock is currently owned by hedge funds and other institutional investors.

Pitney Bowes Company 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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.