Pitney Bowes (NYSE:PBI) Trading 4.1% Higher

Shares of Pitney Bowes Inc. (NYSE:PBI) traded up 4.1% during mid-day trading on Tuesday . The company traded as high as $4.32 and last traded at $4.32. 348,140 shares traded hands during trading, a decline of 75% from the average session volume of 1,398,893 shares. The stock had previously closed at $4.15.

Analyst Ratings Changes

Separately, StockNews.com lowered Pitney Bowes from a “buy” rating to a “hold” rating in a research note on Monday, February 5th.

Pitney Bowes Price Performance

The firm has a 50 day moving average price of $4.12 and a 200 day moving average price of $4.05.

Pitney Bowes (NYSE:PBI) last released its earnings results on Thursday, February 1st. The technology company reported $0.07 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.02 by $0.05. Pitney Bowes had a negative net margin of 11.81% and a negative return on equity of 4.75%. The company had revenue of $871.58 million during the quarter, compared to analyst estimates of $849.85 million. During the same period in the prior year, the firm posted $0.06 EPS. The firm’s quarterly revenue was down 4.1% compared to the same quarter last year. On average, research analysts expect that Pitney Bowes Inc. will post 0.01 EPS for the current fiscal year.

Institutional Trading of Pitney Bowes

A number of hedge funds and other institutional investors have recently modified their holdings of PBI. Invesco Ltd. raised its stake in Pitney Bowes by 13.3% during the 3rd quarter. Invesco Ltd. now owns 2,732,113 shares of the technology company’s stock valued at $8,251,000 after purchasing an additional 321,438 shares during the period. Assenagon Asset Management S.A. lifted its holdings in shares of Pitney Bowes by 164.9% in the fourth quarter. Assenagon Asset Management S.A. now owns 1,738,793 shares of the technology company’s stock worth $7,651,000 after buying an additional 1,082,506 shares in the last quarter. GSA Capital Partners LLP lifted its holdings in shares of Pitney Bowes by 301.6% in the third quarter. GSA Capital Partners LLP now owns 378,503 shares of the technology company’s stock worth $1,143,000 after buying an additional 284,244 shares in the last quarter. Barclays PLC boosted its position in shares of Pitney Bowes by 2.8% during the third quarter. Barclays PLC now owns 155,396 shares of the technology company’s stock worth $469,000 after acquiring an additional 4,293 shares during the last quarter. Finally, First Citizens Bank & Trust Co. grew its stake in Pitney Bowes by 20.8% during the fourth quarter. First Citizens Bank & Trust Co. now owns 16,016 shares of the technology company’s stock valued at $70,000 after acquiring an additional 2,753 shares in the last quarter. 67.88% of the stock is owned by hedge funds and other institutional investors.

Pitney Bowes Company 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.