Pitney Bowes (NYSE:PBI) Trading 8.8% Higher – Time to Buy?

Pitney Bowes Inc. (NYSE:PBI) shares traded up 8.8% during trading on Thursday . The stock traded as high as $10.62 and last traded at $10.62. 1,920,584 shares were traded during trading, a decline of 16% from the average session volume of 2,276,239 shares. The stock had previously closed at $9.76.

Pitney Bowes Stock Performance

The firm has a fifty day moving average price of $7.83 and a 200 day moving average price of $7.36. The stock has a market cap of $1.92 billion, a PE ratio of -4.85, a price-to-earnings-growth ratio of 0.52 and a beta of 2.01.

Pitney Bowes (NYSE:PBI) last issued its quarterly earnings data on Tuesday, February 11th. The technology company reported $0.32 EPS for the quarter, beating the consensus estimate of $0.16 by $0.16. Pitney Bowes had a negative return on equity of 12.85% and a negative net margin of 13.02%. On average, equities research analysts forecast that Pitney Bowes Inc. will post 0.4 earnings per share for the current year.

Insider Buying and Selling

In related news, EVP Deborah Pfeiffer sold 35,000 shares of the firm’s stock in a transaction on Monday, January 27th. The stock was sold at an average price of $9.02, for a total value of $315,700.00. Following the completion of the transaction, the executive vice president now owns 124,124 shares in the company, valued at $1,119,598.48. This trade represents a 22.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Paul J. Evans bought 29,000 shares of Pitney Bowes stock in a transaction that occurred on Wednesday, November 20th. The stock was purchased at an average price of $7.80 per share, with a total value of $226,200.00. Following the purchase, the director now directly owns 29,000 shares in the company, valued at $226,200. The trade was a ∞ increase in their ownership of the stock. The disclosure for this purchase can be found here. 14.30% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Pitney Bowes

A number of institutional investors have recently modified their holdings of PBI. Hestia Capital Management LLC purchased a new position in shares of Pitney Bowes during the 4th quarter valued at about $114,326,000. Vanguard Group Inc. raised its stake in shares of Pitney Bowes by 6.5% during the 4th quarter. Vanguard Group Inc. now owns 21,162,512 shares of the technology company’s stock valued at $153,217,000 after buying an additional 1,299,716 shares during the last quarter. Assenagon Asset Management S.A. raised its stake in shares of Pitney Bowes by 2,894.2% during the 3rd quarter. Assenagon Asset Management S.A. now owns 1,228,562 shares of the technology company’s stock valued at $8,760,000 after buying an additional 1,187,531 shares during the last quarter. JPMorgan Chase & Co. raised its stake in shares of Pitney Bowes by 182.4% during the 3rd quarter. JPMorgan Chase & Co. now owns 967,384 shares of the technology company’s stock valued at $6,897,000 after buying an additional 624,878 shares during the last quarter. Finally, PEAK6 Investments LLC purchased a new position in shares of Pitney Bowes during the 3rd quarter valued at about $3,470,000. Hedge funds and other institutional investors own 67.88% of the company’s stock.

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.