Pitney Bowes (NYSE:PBI) Reaches New 1-Year Low at $3.40

Pitney Bowes Inc. (NYSE:PBI)’s share price hit a new 52-week low during mid-day trading on Monday . The company traded as low as $3.40 and last traded at $3.41, with a volume of 618619 shares traded. The stock had previously closed at $3.71.

Several research firms have recently commented on PBI. ValuEngine cut shares of Pitney Bowes from a “sell” rating to a “strong sell” rating in a research report on Thursday, July 11th. Zacks Investment Research raised shares of Pitney Bowes from a “sell” rating to a “hold” rating in a research report on Wednesday, April 10th. Finally, Maxim Group set a $9.00 price target on shares of Pitney Bowes and gave the company a “buy” rating in a research report on Friday, May 31st.

The firm has a market capitalization of $670.49 million, a P/E ratio of 2.94 and a beta of 1.92. The stock’s 50-day moving average price is $4.12. The company has a debt-to-equity ratio of 35.45, a current ratio of 1.25 and a quick ratio of 1.22.

In other news, Director Robert M. Dutkowsky bought 10,000 shares of the firm’s stock in a transaction on Thursday, May 9th. The stock was acquired at an average cost of $5.22 per share, with a total value of $52,200.00. Following the completion of the acquisition, the director now owns 10,000 shares of the company’s stock, valued at $52,200. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. 3.20% of the stock is currently owned by insiders.

A number of institutional investors have recently modified their holdings of PBI. Trust Co. of Toledo NA OH purchased a new position in Pitney Bowes in the second quarter worth about $47,000. First Quadrant L P CA bought a new stake in shares of Pitney Bowes in the second quarter worth approximately $54,000. Financial Gravity Wealth Inc. bought a new stake in shares of Pitney Bowes in the first quarter worth approximately $65,000. Mercer Global Advisors Inc. ADV bought a new stake in shares of Pitney Bowes in the first quarter worth approximately $71,000. Finally, Piedmont Investment Advisors Inc. bought a new stake in shares of Pitney Bowes in the first quarter worth approximately $74,000. 74.11% of the stock is owned by institutional investors and hedge funds.

About Pitney Bowes (NYSE:PBI)

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.

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