Pitney Bowes Inc. (NYSE:PBI) Shares Sold by Illinois Municipal Retirement Fund

Illinois Municipal Retirement Fund lowered its stake in shares of Pitney Bowes Inc. (NYSE:PBI) by 17.1% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The fund owned 89,937 shares of the technology company’s stock after selling 18,489 shares during the period. Illinois Municipal Retirement Fund’s holdings in Pitney Bowes were worth $396,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Syon Capital LLC acquired a new position in Pitney Bowes during the third quarter worth $32,000. CenterBook Partners LP acquired a new position in Pitney Bowes during the third quarter worth $33,000. Allspring Global Investments Holdings LLC boosted its stake in Pitney Bowes by 50.9% during the third quarter. Allspring Global Investments Holdings LLC now owns 18,616 shares of the technology company’s stock worth $56,000 after buying an additional 6,279 shares during the last quarter. First Citizens Bank & Trust Co. lifted its stake in shares of Pitney Bowes by 20.8% in the 4th quarter. First Citizens Bank & Trust Co. now owns 16,016 shares of the technology company’s stock valued at $70,000 after purchasing an additional 2,753 shares during the last quarter. Finally, Sherbrooke Park Advisers LLC acquired a new position in shares of Pitney Bowes in the 3rd quarter valued at $73,000. Institutional investors and hedge funds own 67.88% of the company’s stock.

Wall Street Analysts Forecast Growth

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

Pitney Bowes Stock Down 1.1 %

Shares of Pitney Bowes stock opened at $4.22 on Thursday. Pitney Bowes Inc. has a 52 week low of $2.80 and a 52 week high of $4.58. The business’s fifty day simple moving average is $4.12 and its 200-day simple moving average is $4.05. The firm has a market cap of $748.88 million, a PE ratio of -1.92, a price-to-earnings-growth ratio of 27.67 and a beta of 2.16.

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

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.