Pitney Bowes Inc. (NYSE:PBI) shares fell 4.6% during mid-day trading on Tuesday . The stock traded as low as $18.00 and last traded at $18.18, with a volume of 1,856,857 shares trading hands. The stock had previously closed at $19.06.

Several brokerages have recently issued reports on PBI. Zacks Investment Research raised shares of Pitney Bowes from a “sell” rating to a “hold” rating in a research note on Thursday, April 14th. Brean Capital reaffirmed a “buy” rating and issued a $24.00 target price (down previously 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 $18.19 and its 200 day moving average price is $19.03. The stock has a market cap of $3.41 billion and a price-to-earnings ratio of 9.32.

Pitney Bowes (NYSE:PBI) last posted its quarterly earnings results on Tuesday, August 2nd. The company reported $0.39 EPS for the quarter, meeting the Zacks’ consensus estimate of $0.39. The company earned $836 million during the quarter, compared to analyst estimates of $852.46 million. The firm’s revenue for the quarter was down 5.1% compared to the same quarter last year. During the same period last year, the firm earned $0.45 EPS. Analysts predict that Pitney Bowes Inc. will post $1.78 earnings per share for the current fiscal year.

A number of hedge funds and institutional investors recently bought and sold shares of the stock. Bank of Montreal Can increased its position in Pitney Bowes by 0.8% in the fourth quarter. Bank of Montreal Can now owns 49,298 shares of the company’s stock worth $1,019,000 after buying an additional 386 shares during the period. GSA Capital Partners LLP increased its position 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 during the last quarter. Aberdeen Asset Management PLC UK increased its position in shares of Pitney Bowes by 12.9% in the fourth quarter. Aberdeen Asset Management PLC UK now owns 67,798 shares of the company’s stock valued at $1,422,000 after buying an additional 7,743 shares during the last quarter. Russell Frank Co increased its position 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 during the last quarter. Finally, Cornerstone Capital Management Holdings LLC. increased its position in shares of Pitney Bowes by 887.0% in the fourth quarter. Cornerstone Capital Management Holdings LLC. now owns 446,054 shares of the company’s stock valued at $9,211,000 after buying an additional 400,859 shares during 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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