Pitney Bowes Inc. (NYSE:PBI) Shares Sold by Clifford Capital Partners LLC

Clifford Capital Partners LLC decreased its holdings in shares of Pitney Bowes Inc. (NYSE:PBI) by 10.9% in the 2nd quarter, according to its most recent 13F filing with the SEC. The fund owned 3,665,083 shares of the technology company’s stock after selling 446,723 shares during the period. Pitney Bowes makes up 4.0% of Clifford Capital Partners LLC’s holdings, making the stock its 4th largest position. Clifford Capital Partners LLC’s holdings in Pitney Bowes were worth $18,619,000 as of its most recent SEC filing.

A number of other large investors also recently made changes to their positions in the stock. Point72 DIFC Ltd increased its holdings in Pitney Bowes by 218.0% in the second quarter. Point72 DIFC Ltd now owns 11,405 shares of the technology company’s stock valued at $58,000 after purchasing an additional 7,819 shares during the last quarter. Magnolia Capital Advisors LLC acquired a new position in shares of Pitney Bowes during the 2nd quarter worth about $232,000. Algert Global LLC bought a new stake in shares of Pitney Bowes in the 2nd quarter valued at about $990,000. Susquehanna Fundamental Investments LLC acquired a new stake in shares of Pitney Bowes in the 2nd quarter valued at approximately $1,582,000. Finally, AQR Capital Management LLC bought a new position in Pitney Bowes during the 2nd quarter worth approximately $97,000. Institutional investors and hedge funds own 67.88% of the company’s stock.

Pitney Bowes Trading Down 3.8 %

Shares of Pitney Bowes stock opened at $6.86 on Wednesday. The stock’s fifty day simple moving average is $6.80 and its 200 day simple moving average is $5.67. The company has a market capitalization of $1.23 billion, a PE ratio of -3.16, a PEG ratio of 1.36 and a beta of 1.98. Pitney Bowes Inc. has a 12 month low of $3.03 and a 12 month high of $7.70.

Pitney Bowes (NYSE:PBI) last released its quarterly earnings data on Thursday, August 8th. The technology company reported $0.03 earnings per share for the quarter, beating 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 business had revenue of $793.17 million for the quarter, compared to analysts’ expectations of $771.65 million. During the same quarter in the previous year, the business posted ($0.02) EPS. Pitney Bowes’s revenue for the quarter was up 2.1% on a year-over-year basis. Analysts predict that Pitney Bowes Inc. will post 0.35 EPS for the current fiscal year.

Pitney Bowes Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, September 6th. Stockholders of record on Thursday, August 22nd were issued a $0.05 dividend. This represents a $0.20 annualized dividend and a dividend yield of 2.92%. The ex-dividend date of this dividend was Thursday, August 22nd. Pitney Bowes’s dividend payout ratio (DPR) is presently -9.22%.

Analyst Upgrades and Downgrades

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

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.