Cibc World Market Inc. Purchases 806,471 Shares of Pitney Bowes Inc. $PBI

Cibc World Market Inc. boosted its position in shares of Pitney Bowes Inc. (NYSE:PBI) by 2,724.6% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 836,071 shares of the technology company’s stock after acquiring an additional 806,471 shares during the quarter. Cibc World Market Inc. owned 0.52% of Pitney Bowes worth $9,540,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently modified their holdings of the company. Stratos Wealth Partners LTD. increased its stake in shares of Pitney Bowes by 17.6% during the 3rd quarter. Stratos Wealth Partners LTD. now owns 11,993 shares of the technology company’s stock worth $137,000 after purchasing an additional 1,799 shares during the last quarter. Savant Capital LLC increased its position in Pitney Bowes by 23.3% during the third quarter. Savant Capital LLC now owns 16,607 shares of the technology company’s stock worth $189,000 after buying an additional 3,141 shares during the last quarter. Capital Management Corp VA raised its stake in Pitney Bowes by 8.2% in the third quarter. Capital Management Corp VA now owns 2,337,760 shares of the technology company’s stock valued at $26,674,000 after buying an additional 176,180 shares during the period. Principal Financial Group Inc. lifted its position in shares of Pitney Bowes by 2.6% in the third quarter. Principal Financial Group Inc. now owns 981,543 shares of the technology company’s stock valued at $11,199,000 after buying an additional 25,288 shares during the last quarter. Finally, AlphaQuest LLC boosted its stake in shares of Pitney Bowes by 37.1% during the 3rd quarter. AlphaQuest LLC now owns 85,416 shares of the technology company’s stock worth $975,000 after acquiring an additional 23,095 shares during the period. Institutional investors own 67.88% of the company’s stock.

Pitney Bowes Stock Performance

NYSE:PBI opened at $10.27 on Friday. Pitney Bowes Inc. has a fifty-two week low of $7.39 and a fifty-two week high of $13.11. The company has a market cap of $1.65 billion, a price-to-earnings ratio of 22.81, a PEG ratio of 0.48 and a beta of 1.41. The stock has a fifty day moving average price of $10.41 and a 200-day moving average price of $10.78.

Wall Street Analyst Weigh In

A number of equities research analysts recently weighed in on the company. Weiss Ratings restated a “hold (c)” rating on shares of Pitney Bowes in a research note on Monday, December 29th. The Goldman Sachs Group began coverage on shares of Pitney Bowes in a research note on Monday, November 3rd. They set a “neutral” rating and a $11.00 target price for the company. JMP Securities set a $13.00 price target on shares of Pitney Bowes in a research note on Wednesday, December 3rd. Zacks Research upgraded shares of Pitney Bowes from a “hold” rating to a “strong-buy” rating in a research report on Monday, December 29th. Finally, Citigroup initiated coverage on Pitney Bowes in a report on Wednesday, December 3rd. They set an “outperform” rating for the company. One equities research analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating and four have assigned a Hold rating to the company. According to MarketBeat, Pitney Bowes has an average rating of “Moderate Buy” and an average price target of $12.00.

About Pitney Bowes

Pitney Bowes Inc (NYSE: PBI) is an American technology company that specializes in shipping, mailing, and e-commerce solutions. Founded in 1920 by Walter Bowes and Arthur Pitney, the company pioneered postage meter technology and has since evolved to offer a broad portfolio of hardware, software, and services designed to streamline physical and digital communications. Headquartered in Stamford, Connecticut, Pitney Bowes leverages a century of expertise to serve enterprises, small businesses, and government agencies around the globe.

The company’s core offerings span mailing and shipping equipment, including postage meters, folder inserters, and address verification systems, alongside integrated software platforms for customer information management, data analytics, and location intelligence.