Squarepoint Ops LLC Acquires New Position in Pitney Bowes Inc. (NYSE:PBI)

Squarepoint Ops LLC bought a new position in shares of Pitney Bowes Inc. (NYSE:PBI) in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund bought 74,568 shares of the technology company’s stock, valued at approximately $379,000.

A number of other institutional investors and hedge funds have also recently made changes to their positions in the stock. Quadrature Capital Ltd acquired a new position in shares of Pitney Bowes in the fourth quarter valued at approximately $240,000. BNP Paribas Financial Markets boosted its position in shares of Pitney Bowes by 10.0% during the 1st quarter. BNP Paribas Financial Markets now owns 216,002 shares of the technology company’s stock worth $935,000 after purchasing an additional 19,690 shares in the last quarter. ProShare Advisors LLC grew its stake in Pitney Bowes by 7.5% in the first quarter. ProShare Advisors LLC now owns 34,900 shares of the technology company’s stock valued at $151,000 after acquiring an additional 2,440 shares during the period. SageView Advisory Group LLC bought a new stake in Pitney Bowes during the 1st quarter valued at $57,000. Finally, EntryPoint Capital LLC bought a new stake in shares of Pitney Bowes during the first quarter worth about $197,000. Institutional investors own 67.88% of the company’s stock.

Pitney Bowes Price Performance

Shares of Pitney Bowes stock opened at $6.92 on Friday. The stock has a fifty day moving average price of $6.84 and a 200-day moving average price of $5.78. The firm has a market cap of $1.24 billion, a PE ratio of -3.19, a P/E/G ratio of 1.29 and a beta of 1.97. Pitney Bowes Inc. has a 1 year low of $3.03 and a 1 year high of $7.70.

Pitney Bowes (NYSE:PBI) last issued its earnings results on Thursday, August 8th. The technology company reported $0.03 earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.07) by $0.10. The firm had revenue of $793.17 million for the quarter, compared to analyst estimates of $771.65 million. Pitney Bowes had a negative return on equity of 5.31% and a negative net margin of 8.05%. The business’s revenue was up 2.1% on a year-over-year basis. During the same period in the previous year, the company posted ($0.02) earnings per share. As a group, equities analysts anticipate that Pitney Bowes Inc. will post 0.35 EPS for the current fiscal year.

Pitney Bowes Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, September 6th. Stockholders of record on Thursday, August 22nd were given a dividend of $0.05 per share. This represents a $0.20 annualized dividend and a dividend yield of 2.89%. The ex-dividend date of this dividend was Thursday, August 22nd. Pitney Bowes’s dividend payout ratio is presently -9.22%.

Wall Street Analysts Forecast Growth

Separately, StockNews.com downgraded shares of Pitney Bowes from a “strong-buy” rating to a “buy” rating in a report on Wednesday, August 21st.

About Pitney Bowes

Pitney Bowes Inc, a shipping and mailing company, provides technology, logistics, and financial services to small and medium-sized businesses, large enterprises, retailers, and government clients in the United States and internationally. It operates through Global Ecommerce, Presort Services, and SendTech Solutions segments.