Pitney Bowes (NYSE:PBI) Shares Gap Up – Still a Buy?

Pitney Bowes Inc. (NYSE:PBI) shares gapped up before the market opened on Friday . The stock had previously closed at $8.05, but opened at $8.78. Pitney Bowes shares last traded at $8.21, with a volume of 538,283 shares trading hands.

Analyst Ratings Changes

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

Pitney Bowes Trading Down 2.0 %

The stock’s fifty day simple moving average is $7.02 and its 200-day simple moving average is $6.21. The company has a market capitalization of $1.42 billion, a price-to-earnings ratio of -5.37, a price-to-earnings-growth ratio of 1.42 and a beta of 1.97.

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

Institutional Trading of Pitney Bowes

Hedge funds and other institutional investors have recently bought and sold shares of the business. BNP Paribas Financial Markets boosted its stake in Pitney Bowes by 10.0% in the first quarter. BNP Paribas Financial Markets now owns 216,002 shares of the technology company’s stock valued at $935,000 after acquiring an additional 19,690 shares in the last quarter. ProShare Advisors LLC grew its position in Pitney Bowes by 7.5% during the 1st quarter. ProShare Advisors LLC now owns 34,900 shares of the technology company’s stock worth $151,000 after purchasing an additional 2,440 shares during the last quarter. SageView Advisory Group LLC acquired a new position in Pitney Bowes in the first quarter valued at $57,000. EntryPoint Capital LLC acquired a new stake in shares of Pitney Bowes during the first quarter worth about $197,000. Finally, Quadrature Capital Ltd boosted its stake in shares of Pitney Bowes by 21.6% during the first quarter. Quadrature Capital Ltd now owns 66,247 shares of the technology company’s stock worth $287,000 after buying an additional 11,753 shares during the period. 67.88% of the stock is currently owned by institutional investors and hedge funds.

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.