Kornitzer Capital Management Inc. KS lowered its holdings in shares of Pitney Bowes Inc. (NYSE:PBI) by 12.4% during the third quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 1,763,445 shares of the technology company’s stock after selling 250,275 shares during the quarter. Kornitzer Capital Management Inc. KS owned about 0.94% of Pitney Bowes worth $24,706,000 as of its most recent filing with the Securities and Exchange Commission.
Other institutional investors have also added to or reduced their stakes in the company. Bank of Nova Scotia bought a new position in shares of Pitney Bowes during the 1st quarter valued at $216,000. HPM Partners LLC bought a new position in shares of Pitney Bowes during the 2nd quarter valued at $429,000. Zurcher Kantonalbank Zurich Cantonalbank raised its holdings in shares of Pitney Bowes by 11.9% during the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 7,041 shares of the technology company’s stock valued at $106,000 after purchasing an additional 748 shares in the last quarter. Seven Eight Capital LP bought a new position in shares of Pitney Bowes during the 2nd quarter valued at $108,000. Finally, IFP Advisors Inc raised its holdings in shares of Pitney Bowes by 74.4% during the 2nd quarter. IFP Advisors Inc now owns 11,236 shares of the technology company’s stock valued at $170,000 after purchasing an additional 4,793 shares in the last quarter. Institutional investors and hedge funds own 76.41% of the company’s stock.
Shares of Pitney Bowes Inc. (PBI) traded up $0.06 on Friday, reaching $11.25. 5,779,073 shares of the company traded hands, compared to its average volume of 2,212,016. Pitney Bowes Inc. has a 12-month low of $11.09 and a 12-month high of $16.60. The company has a market cap of $2,100.69, a P/E ratio of 7.26 and a beta of 1.25. The company has a quick ratio of 0.90, a current ratio of 1.42 and a debt-to-equity ratio of 35.49.
Pitney Bowes (NYSE:PBI) last announced its earnings results on Wednesday, November 1st. The technology company reported $0.33 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.43 by ($0.10). Pitney Bowes had a net margin of 2.64% and a negative return on equity of 5,297.85%. The business had revenue of $842.82 million for the quarter, compared to analyst estimates of $837.60 million. During the same period in the prior year, the company earned $0.44 earnings per share. The company’s quarterly revenue was up .5% on a year-over-year basis. equities research analysts forecast that Pitney Bowes Inc. will post 1.38 EPS for the current year.
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A number of research analysts have recently weighed in on the stock. Loop Capital assumed coverage on shares of Pitney Bowes in a report on Friday, July 28th. They set a “hold” rating and a $16.00 price target on the stock. Zacks Investment Research downgraded shares of Pitney Bowes from a “buy” rating to a “hold” rating in a report on Tuesday, July 11th. ValuEngine upgraded shares of Pitney Bowes from a “hold” rating to a “buy” rating in a report on Monday, October 2nd. Cross Research downgraded shares of Pitney Bowes from a “hold” rating to a “sell” rating in a report on Tuesday, August 8th. Finally, Sidoti upgraded shares of Pitney Bowes from a “neutral” rating to a “buy” rating and set a $17.00 target price on the stock in a report on Wednesday, August 2nd. One analyst has rated the stock with a sell rating, three have given a hold rating and two have given a buy rating to the company’s stock. Pitney Bowes has an average rating of “Hold” and a consensus target price of $14.50.
Pitney Bowes Company Profile
Pitney Bowes Inc is a global technology company. The Company offers customer information management, location intelligence and customer engagement products and solutions to help its clients market to their customers, and shipping, mailing, and cross border e-commerce products and solutions that enable the sending of parcels and packages across the globe.
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