27,608 Shares in Pitney Bowes Inc. (NYSE:PBI) Bought by Dynamic Technology Lab Private Ltd

Dynamic Technology Lab Private Ltd bought a new stake in Pitney Bowes Inc. (NYSE:PBI) during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor bought 27,608 shares of the technology company’s stock, valued at approximately $197,000.

A number of other hedge funds have also made changes to their positions in the company. Price T Rowe Associates Inc. MD raised its position in shares of Pitney Bowes by 3.9% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 220,888 shares of the technology company’s stock worth $957,000 after purchasing an additional 8,305 shares during the last quarter. B. Riley Wealth Advisors Inc. boosted its stake in shares of Pitney Bowes by 10.3% during the first quarter. B. Riley Wealth Advisors Inc. now owns 98,956 shares of the technology company’s stock valued at $428,000 after acquiring an additional 9,222 shares during the last quarter. Tidal Investments LLC purchased a new stake in Pitney Bowes during the 1st quarter worth about $764,000. SG Americas Securities LLC raised its stake in Pitney Bowes by 89.7% in the 2nd quarter. SG Americas Securities LLC now owns 45,657 shares of the technology company’s stock valued at $232,000 after purchasing an additional 21,594 shares during the last quarter. Finally, Envestnet Portfolio Solutions Inc. lifted its holdings in Pitney Bowes by 15.6% in the 2nd quarter. Envestnet Portfolio Solutions Inc. now owns 15,189 shares of the technology company’s stock valued at $77,000 after purchasing an additional 2,054 shares in the last quarter. Hedge funds and other institutional investors own 67.88% of the company’s stock.

Insider Activity

In related news, Director Paul J. Evans bought 29,000 shares of the company’s stock in a transaction dated Wednesday, November 20th. The stock was bought at an average price of $7.80 per share, with a total value of $226,200.00. Following the transaction, the director now owns 29,000 shares of the company’s stock, valued at approximately $226,200. This trade represents a ∞ increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which can be accessed through this link. Insiders own 14.30% of the company’s stock.

Analyst Ratings Changes

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

Pitney Bowes Price Performance

PBI stock opened at $8.06 on Tuesday. The stock has a market capitalization of $1.46 billion, a price-to-earnings ratio of -3.70, a price-to-earnings-growth ratio of 1.41 and a beta of 1.97. The stock’s fifty day simple moving average is $7.35 and its 200-day simple moving average is $6.59. Pitney Bowes Inc. has a 52-week low of $3.68 and a 52-week high of $8.80.

Pitney Bowes (NYSE:PBI) last issued its earnings results on Friday, November 8th. The technology company reported $0.21 earnings per share for the quarter, beating analysts’ consensus estimates of $0.13 by $0.08. Pitney Bowes had a negative return on equity of 12.85% and a negative net margin of 13.02%. The firm had revenue of $499.46 million for the quarter, compared to analysts’ expectations of $467.80 million. As a group, analysts anticipate that Pitney Bowes Inc. will post 0.38 earnings per share for the current fiscal year.

Pitney Bowes Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, December 6th. Investors of record on Monday, November 18th will be given a dividend of $0.05 per share. This represents a $0.20 annualized dividend and a yield of 2.48%. The ex-dividend date of this dividend is Monday, November 18th. Pitney Bowes’s dividend payout ratio (DPR) is presently -9.17%.

Pitney Bowes Profile

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.