Stone Ridge Asset Management LLC acquired a new position in Pitney Bowes (NYSE:PBI) in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund acquired 57,536 shares of the technology company’s stock, valued at approximately $643,000.
A number of other institutional investors have also added to or reduced their stakes in the business. Schroder Investment Management Group raised its position in Pitney Bowes by 166.9% in the fourth quarter. Schroder Investment Management Group now owns 5,639,908 shares of the technology company’s stock worth $63,054,000 after acquiring an additional 3,526,554 shares in the last quarter. LSV Asset Management raised its holdings in Pitney Bowes by 5.0% during the 4th quarter. LSV Asset Management now owns 5,052,788 shares of the technology company’s stock worth $56,490,000 after buying an additional 238,900 shares during the period. Sirios Capital Management L P acquired a new stake in Pitney Bowes during the 3rd quarter worth about $45,044,000. Dimensional Fund Advisors LP raised its holdings in Pitney Bowes by 13.3% during the 3rd quarter. Dimensional Fund Advisors LP now owns 2,389,740 shares of the technology company’s stock worth $33,480,000 after buying an additional 279,697 shares during the period. Finally, Chartwell Investment Partners LLC raised its holdings in Pitney Bowes by 23.7% during the 4th quarter. Chartwell Investment Partners LLC now owns 1,833,036 shares of the technology company’s stock worth $20,493,000 after buying an additional 350,746 shares during the period. 75.60% of the stock is owned by hedge funds and other institutional investors.
Shares of NYSE PBI traded down $0.17 during trading hours on Friday, reaching $10.74. The stock had a trading volume of 929,285 shares, compared to its average volume of 1,646,950. The company has a current ratio of 1.28, a quick ratio of 1.24 and a debt-to-equity ratio of 18.92. The firm has a market capitalization of $2,037.77, a price-to-earnings ratio of 7.62 and a beta of 1.13. Pitney Bowes has a twelve month low of $9.50 and a twelve month high of $16.25.
Pitney Bowes (NYSE:PBI) last announced its quarterly earnings results on Wednesday, January 31st. The technology company reported $0.40 earnings per share for the quarter, beating analysts’ consensus estimates of $0.37 by $0.03. The firm had revenue of $1.05 billion for the quarter, compared to analysts’ expectations of $1.04 billion. Pitney Bowes had a return on equity of 388.23% and a net margin of 7.36%. The business’s revenue was up 18.3% compared to the same quarter last year. During the same period in the prior year, the business posted $0.53 earnings per share. research analysts anticipate that Pitney Bowes will post 1.46 earnings per share for the current fiscal year.
Several equities research analysts recently commented on PBI shares. Zacks Investment Research cut Pitney Bowes from a “hold” rating to a “sell” rating in a research note on Tuesday, April 3rd. ValuEngine lowered Pitney Bowes from a “buy” rating to a “hold” rating in a report on Sunday, December 31st. Two research analysts have rated the stock with a sell rating, three have assigned a hold rating and one has given a buy rating to the company’s stock. The company presently has an average rating of “Hold” and a consensus target price of $14.50.
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About Pitney Bowes
Pitney Bowes Inc offers customer information management, location intelligence, and customer engagement products and solutions in the United States and internationally. The company operates in three segments: Small & Medium Business Solutions; Enterprise Business Solutions; and Digital Commerce Solutions.
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