Cibc World Market Inc. Has $8.26 Million Stock Position in Pitney Bowes Inc. $PBI

Cibc World Market Inc. decreased its holdings in shares of Pitney Bowes Inc. (NYSE:PBI) by 6.5% during the 4th quarter, HoldingsChannel.com reports. The firm owned 781,742 shares of the technology company’s stock after selling 54,329 shares during the period. Cibc World Market Inc.’s holdings in Pitney Bowes were worth $8,263,000 as of its most recent SEC filing.

Several other hedge funds also recently modified their holdings of the business. EverSource Wealth Advisors LLC grew its stake in Pitney Bowes by 41.3% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 3,472 shares of the technology company’s stock valued at $38,000 after buying an additional 1,015 shares during the last quarter. Hantz Financial Services Inc. grew its stake in Pitney Bowes by 190.9% in the 4th quarter. Hantz Financial Services Inc. now owns 3,747 shares of the technology company’s stock valued at $40,000 after buying an additional 2,459 shares during the last quarter. Canada Pension Plan Investment Board acquired a new position in Pitney Bowes in the 2nd quarter valued at $51,000. Copeland Capital Management LLC acquired a new position in Pitney Bowes in the 4th quarter valued at $65,000. Finally, United Services Automobile Association acquired a new position in Pitney Bowes in the 1st quarter valued at $96,000. Institutional investors and hedge funds own 67.88% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms recently issued reports on PBI. Citizens Jmp raised their target price on shares of Pitney Bowes from $17.00 to $19.00 and gave the company a “market outperform” rating in a research note on Friday. 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. The Goldman Sachs Group set a $15.20 target price on shares of Pitney Bowes in a research note on Friday, May 8th. Bank of America upgraded shares of Pitney Bowes from an “underperform” rating to a “neutral” rating and raised their target price for the company from $9.50 to $16.50 in a research note on Monday, May 11th. Finally, Wall Street Zen upgraded shares of Pitney Bowes from a “buy” rating to a “strong-buy” rating in a research note on Saturday, April 25th. One equities research analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating and four have given a Hold rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $16.43.

Insiders Place Their Bets

In other Pitney Bowes news, CEO Kurt James Wolf sold 40,476 shares of the firm’s stock in a transaction on Friday, May 22nd. The shares were sold at an average price of $15.62, for a total value of $632,235.12. Following the sale, the chief executive officer directly owned 360,210 shares in the company, valued at $5,626,480.20. This trade represents a 10.10% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director Brent D. Rosenthal purchased 4,000 shares of the firm’s stock in a transaction on Friday, March 13th. The stock was bought at an average price of $10.22 per share, for a total transaction of $40,880.00. Following the completion of the transaction, the director directly owned 9,000 shares in the company, valued at approximately $91,980. The trade was a 80.00% increase in their ownership of the stock. The SEC filing for this purchase provides additional information. Insiders have sold 2,365,280 shares of company stock worth $34,252,541 in the last ninety days. Insiders own 6.50% of the company’s stock.

Pitney Bowes Price Performance

NYSE PBI opened at $16.85 on Friday. The firm has a market capitalization of $2.28 billion, a price-to-earnings ratio of 16.36, a P/E/G ratio of 0.76 and a beta of 1.63. The company’s fifty day moving average is $14.20 and its two-hundred day moving average is $11.68. Pitney Bowes Inc. has a 52-week low of $8.95 and a 52-week high of $17.13.

Pitney Bowes (NYSE:PBI) last posted its quarterly earnings results on Tuesday, May 5th. The technology company reported $0.47 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.47. The company had revenue of $477.41 million for the quarter, compared to analyst estimates of $471.83 million. Pitney Bowes had a net margin of 8.92% and a negative return on equity of 33.41%. The business’s quarterly revenue was down 3.2% on a year-over-year basis. During the same period last year, the business posted $0.33 EPS. As a group, sell-side analysts expect that Pitney Bowes Inc. will post 1.62 earnings per share for the current fiscal year.

Pitney Bowes Cuts Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, June 5th. Shareholders of record on Monday, May 18th were given a $0.01 dividend. This represents a $0.04 annualized dividend and a yield of 0.2%. The ex-dividend date was Monday, May 18th. Pitney Bowes’s dividend payout ratio (DPR) is currently 38.83%.

Pitney Bowes 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.