Supplemental Annuity Collective Trust of NJ Sells 40,000 Shares of Pitney Bowes Inc. (PBI)

Supplemental Annuity Collective Trust of NJ trimmed its holdings in shares of Pitney Bowes Inc. (NYSE:PBI) by 80.0% during the first quarter, HoldingsChannel.com reports. The fund owned 10,000 shares of the technology company’s stock after selling 40,000 shares during the quarter. Supplemental Annuity Collective Trust of NJ’s holdings in Pitney Bowes were worth $69,000 as of its most recent filing with the SEC.

A number of other large investors have also added to or reduced their stakes in the stock. Retirement Systems of Alabama increased its holdings in Pitney Bowes by 0.7% in the 1st quarter. Retirement Systems of Alabama now owns 245,046 shares of the technology company’s stock valued at $1,683,000 after buying an additional 1,779 shares during the period. Comerica Bank boosted its stake in shares of Pitney Bowes by 1.6% in the 4th quarter. Comerica Bank now owns 123,226 shares of the technology company’s stock valued at $891,000 after purchasing an additional 1,994 shares in the last quarter. Oregon Public Employees Retirement Fund boosted its stake in shares of Pitney Bowes by 3.1% in the 4th quarter. Oregon Public Employees Retirement Fund now owns 75,247 shares of the technology company’s stock valued at $445,000 after purchasing an additional 2,242 shares in the last quarter. Raymond James Financial Services Advisors Inc. boosted its stake in shares of Pitney Bowes by 11.2% in the 4th quarter. Raymond James Financial Services Advisors Inc. now owns 22,554 shares of the technology company’s stock valued at $133,000 after purchasing an additional 2,279 shares in the last quarter. Finally, Kovack Advisors Inc. boosted its stake in shares of Pitney Bowes by 6.8% in the 4th quarter. Kovack Advisors Inc. now owns 37,274 shares of the technology company’s stock valued at $220,000 after purchasing an additional 2,382 shares in the last quarter. 71.64% of the stock is currently owned by institutional investors and hedge funds.

Several equities research analysts recently commented on PBI shares. Northcoast Research downgraded shares of Pitney Bowes from a “buy” rating to a “neutral” rating in a research report on Wednesday, February 6th. Zacks Investment Research downgraded shares of Pitney Bowes from a “hold” rating to a “sell” rating in a research report on Thursday, February 7th. Maxim Group reiterated a “buy” rating and set a $11.00 target price on shares of Pitney Bowes in a research report on Wednesday, April 24th. Finally, ValuEngine upgraded shares of Pitney Bowes from a “sell” rating to a “hold” rating in a research report on Wednesday.

In other Pitney Bowes news, VP Stanley J. Sutula III bought 5,000 shares of the business’s stock in a transaction that occurred on Wednesday, May 1st. The shares were acquired at an average cost of $5.34 per share, for a total transaction of $26,700.00. Following the transaction, the vice president now directly owns 15,000 shares in the company, valued at $80,100. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. 3.20% of the stock is owned by company insiders.

NYSE:PBI opened at $5.72 on Friday. The company has a debt-to-equity ratio of 12.82, a quick ratio of 1.23 and a current ratio of 1.25. Pitney Bowes Inc. has a one year low of $5.23 and a one year high of $9.71. The company has a market cap of $1.06 billion, a P/E ratio of 4.93 and a beta of 1.47.

Pitney Bowes (NYSE:PBI) last posted its earnings results on Wednesday, May 1st. The technology company reported $0.12 EPS for the quarter, missing the consensus estimate of $0.21 by ($0.09). Pitney Bowes had a return on equity of 100.78% and a net margin of 6.17%. The business had revenue of $868.40 million for the quarter, compared to analyst estimates of $866.04 million. During the same quarter in the prior year, the business earned $0.28 earnings per share. The firm’s quarterly revenue was down 3.1% on a year-over-year basis. On average, analysts expect that Pitney Bowes Inc. will post 1.13 earnings per share for the current fiscal year.

Pitney Bowes declared that its Board of Directors has initiated a share buyback program on Tuesday, February 5th that permits the company to repurchase $100.00 million in outstanding shares. This repurchase authorization permits the technology company to reacquire up to 7.8% of its stock through open market purchases. Stock repurchase programs are often a sign that the company’s board believes its shares are undervalued.

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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: Commerce Services; Small & Medium Business Solutions; and Software Solutions. The Commerce Services segment provides cross-border e-commerce solutions, domestic retail and e-commerce shipping solutions, fulfillment, and delivery and return services; and mail sortation services that allow clients to qualify large volumes of first class mail, marketing mail, and bound and packet mail for postal work sharing discounts.

Further Reading: Call Option Volume

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Institutional Ownership by Quarter for Pitney Bowes (NYSE:PBI)

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