Pitney Bowes Inc. (NYSE:PBI) shares saw strong trading volume on Friday . 3,934,740 shares changed hands during mid-day trading, an increase of 174% from the previous session’s volume of 1,437,715 shares.The stock last traded at $19.31 and had previously closed at $19.17.

Several analysts have recently issued reports on the company. Zacks Investment Research upgraded Pitney Bowes from a “sell” rating to a “hold” rating in a research note on Wednesday, June 15th. Brean Capital restated a “buy” rating and issued a $24.00 price target (down from $25.00) on shares of Pitney Bowes in a research note on Wednesday, May 4th.

The firm’s 50 day moving average price is $18.18 and its 200-day moving average price is $19.02. The firm has a market cap of $3.64 billion and a P/E ratio of 9.95.

Pitney Bowes (NYSE:PBI) last issued its quarterly earnings results on Tuesday, May 3rd. The company reported $0.34 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.40 by $0.06. During the same period in the previous year, the business earned $0.40 EPS. The business earned $845 million during the quarter, compared to the consensus estimate of $870.62 million. The business’s revenue was down 5.1% compared to the same quarter last year. On average, equities analysts predict that Pitney Bowes Inc. will post $1.78 EPS for the current year.

Other hedge funds recently made changes to their positions in the company. Russell Frank Co boosted its stake in shares of Pitney Bowes by 9.1% in the fourth quarter. Russell Frank Co now owns 111,532 shares of the company’s stock valued at $2,322,000 after buying an additional 9,281 shares in the last quarter. ProShare Advisors LLC boosted its stake in shares of Pitney Bowes by 4.2% in the fourth quarter. ProShare Advisors LLC now owns 67,415 shares of the company’s stock valued at $1,392,000 after buying an additional 2,733 shares in the last quarter. OppenheimerFunds Inc. bought a new stake in shares of Pitney Bowes during the fourth quarter valued at about $14,422,000. Vanguard Group Inc. boosted its stake in shares of Pitney Bowes by 0.8% in the fourth quarter. Vanguard Group Inc. now owns 21,160,087 shares of the company’s stock valued at $436,955,000 after buying an additional 160,814 shares in the last quarter. Finally, GSA Capital Partners LLP boosted its stake in shares of Pitney Bowes by 67.9% in the fourth quarter. GSA Capital Partners LLP now owns 67,821 shares of the company’s stock valued at $1,401,000 after buying an additional 27,432 shares in the last quarter.

Pitney Bowes Inc is a global technology company. The Company offers customer information management, location intelligence, and customer engagement products and solutions to help clients market to their customers, and shipping and mailing, and cross border e-commerce products and solutions that enable the sending of parcels and packages across the globe.

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