Argi Investment Services buys $1,740,112 stake in Pitney Bowes (PBI)

Pitney Bowes (PBI) : Argi Investment Services scooped up 5,517 additional shares in Pitney Bowes during the most recent quarter end , the firm said in a disclosure report filed with the SEC on Aug 11, 2016. The investment management firm now holds a total of 94,315 shares of Pitney Bowes which is valued at $1,740,112.Pitney Bowes makes up approximately 0.17% of Argi Investment Services’s portfolio.

Other Hedge Funds, Including , Huntington National Bank reduced its stake in PBI by selling 9,822 shares or 30.41% in the most recent quarter. The Hedge Fund company now holds 22,478 shares of PBI which is valued at $428,655. Pitney Bowes makes up approx 0.01% of Huntington National Bank’s portfolio.

Pitney Bowes opened for trading at $18.46 and hit $18.56 on the upside on Tuesday, eventually ending the session at $18.51, with a gain of 0.76% or 0.14 points. The heightened volatility saw the trading volume jump to 9,74,210 shares. Company has a market cap of $3,435 M.

On the company’s financial health, Pitney Bowes reported $0.39 EPS for the quarter, based on the information available during the earnings call on Aug 2, 2016. Analyst had a consensus estimate of $0.39. The company had revenue of $836.00 million for the quarter, compared to analysts expectations of $851.83 million. The company’s revenue was down -5.1 % compared to the same quarter last year.During the same quarter in the previous year, the company posted $0.45 EPS.

Pitney Bowes Inc. is a provider of technology solutions. The Company offers solutions for direct mail transactional mail customer engagement management and analytics and e-commerce parcel management along with digital channel messaging for the Web e-mail and mobile applications. The Company’s business is organized around three sets of solutions: small and medium business (SMB) Solutions enterprise business solutions and digital commerce solutions (DCS). Its Enterprise Business Solutions includes equipment and services to process inbound and outbound mail. Its SMB Solutions provides a range of mailing equipment and postage meters maintenance and support services and supplies. Its DCS provides a range of software solutions customer engagement and communication solutions data management products and solutions e-commerce parcel management solutions and targeted direct marketing programs. Its subsidiaries include The Pitney Bowes Bank (the Bank) and Borderfree Inc.

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