Pitney Bowes (NYSE:PBI) Price Target Raised to $19.00

Pitney Bowes (NYSE:PBI) had its target price increased by investment analysts at Citizens Jmp from $17.00 to $19.00 in a research report issued to clients and investors on Friday,Benzinga reports. The brokerage presently has a “market outperform” rating on the technology company’s stock. Citizens Jmp’s price objective indicates a potential upside of 13.27% from the company’s current price.

Several other research firms have also commented on PBI. Wall Street Zen raised shares of Pitney Bowes from a “buy” rating to a “strong-buy” rating in a report on Saturday, April 25th. Citigroup reissued an “outperform” rating on shares of Pitney Bowes in a report on Friday. Bank of America upgraded Pitney Bowes from an “underperform” rating to a “neutral” rating and lifted their target price for the company from $9.50 to $16.50 in a research note on Monday, May 11th. The Goldman Sachs Group set a $15.20 target price on Pitney Bowes in a report on Friday, May 8th. Finally, Zacks Research upgraded Pitney Bowes from a “hold” rating to a “strong-buy” rating in a research report on Thursday, May 7th. One equities research analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating and four have issued a Hold rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $16.43.

Pitney Bowes Trading Up 1.7%

PBI stock opened at $16.77 on Friday. The stock’s 50 day simple moving average is $14.08 and its 200 day simple moving average is $11.64. Pitney Bowes has a 12-month low of $8.95 and a 12-month high of $17.08. The firm has a market cap of $2.27 billion, a P/E ratio of 16.29, a P/E/G ratio of 0.74 and a beta of 1.63.

Pitney Bowes (NYSE:PBI) last released its quarterly earnings data on Tuesday, May 5th. The technology company reported $0.47 EPS for the quarter, hitting analysts’ consensus estimates of $0.47. Pitney Bowes had a net margin of 8.92% and a negative return on equity of 33.41%. The firm had revenue of $477.41 million during the quarter, compared to the consensus estimate of $471.83 million. During the same quarter in the previous year, the company posted $0.33 earnings per share. The firm’s revenue was down 3.2% on a year-over-year basis. On average, research analysts forecast that Pitney Bowes will post 1.62 EPS for the current fiscal year.

Insider Buying and Selling at Pitney Bowes

In other Pitney Bowes news, EVP Deborah Pfeiffer sold 18,750 shares of the company’s stock in a transaction dated Friday, May 29th. The shares were sold at an average price of $16.06, for a total value of $301,125.00. Following the completion of the transaction, the executive vice president owned 97,828 shares in the company, valued at approximately $1,571,117.68. This represents a 16.08% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Brent D. Rosenthal purchased 4,000 shares of the company’s stock in a transaction on Friday, March 13th. The stock was purchased at an average price of $10.22 per share, for a total transaction of $40,880.00. Following the purchase, the director directly owned 9,000 shares of the company’s stock, valued at $91,980. This trade represents a 80.00% increase in their position. Additional details regarding this purchase are available in the official SEC disclosure. Insiders sold 2,365,280 shares of company stock valued at $34,252,541 in the last ninety days. Company insiders own 6.50% of the company’s stock.

Institutional Trading of Pitney Bowes

Several hedge funds have recently added to or reduced their stakes in PBI. Longview Financial Advisors Inc. acquired a new position in Pitney Bowes during the 1st quarter worth $26,000. EverSource Wealth Advisors LLC increased its holdings in shares of Pitney Bowes by 41.3% during the second quarter. EverSource Wealth Advisors LLC now owns 3,472 shares of the technology company’s stock valued at $38,000 after purchasing an additional 1,015 shares during the period. Hantz Financial Services Inc. raised its stake in shares of Pitney Bowes by 190.9% during the fourth quarter. Hantz Financial Services Inc. now owns 3,747 shares of the technology company’s stock valued at $40,000 after purchasing an additional 2,459 shares in the last quarter. UMB Bank n.a. raised its stake in shares of Pitney Bowes by 404.6% during the fourth quarter. UMB Bank n.a. now owns 4,022 shares of the technology company’s stock valued at $43,000 after purchasing an additional 3,225 shares in the last quarter. Finally, Canada Pension Plan Investment Board acquired a new stake in Pitney Bowes in the second quarter worth about $51,000. Institutional investors own 67.88% of the company’s stock.

About Pitney Bowes

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.