Form: SC 13G/A

Statement of Beneficial Ownership by Certain Investors

SC 13G/A: Statement of Beneficial Ownership by Certain Investors

Published on

UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549

SCHEDULE 13G/A

UNDER THE SECURITIES EXCHANGE ACT OF 1934
(AMENDMENT NO. 4)*

Pitney Bowes, Inc.
------------------
(Name of Issuer)

Common
------------------------------
(Title of Class of Securities)

724479100
--------------
(CUSIP Number)

December 31, 2008
-------------------------------------------------------
(Date of Event Which Requires Filing of this Statement)

Check the appropriate box to designate the rule pursuant to which this Schedule
is filed:

[x] Rule 13d-1(b)
[ ] Rule 13d-1(c)
[ ] Rule 13d-1(d)

*The remainder of this cover page shall be filled out for a reporting person's
initial filing on this form with respect to the subject class of securities, and
for any subsequent amendment containing information which would alter the
disclosures provided in a prior cover page.

The information required in the remainder of this cover page shall not be deemed
to be "filed" for the purpose of Section 18 of the Securities Exchange Act of
1934 ("Act") or otherwise subject to the liabilities of that section of the Act
but shall be subject to all other provisions of the Act (however, see the
Notes).


PAGE 1 OF 4 PAGES
- --------------------------------------------------------------------------------
1 NAME OF REPORTING PERSON
S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON

NWQ Investment Management Company, LLC 47-0875103
- --------------------------------------------------------------------------------
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP* (a) [-]
(b) [-]
- --------------------------------------------------------------------------------
3 SEC USE ONLY

- --------------------------------------------------------------------------------
4 CITIZENSHIP OR PLACE OF ORGANIZATION

Delaware - U.S.A.
- --------------------------------------------------------------------------------
5 SOLE VOTING POWER

19,370,103
NUMBER OF -----------------------------------------------------------
SHARES 6 SHARED VOTING POWER
BENEFICIALLY
OWNED BY 0
EACH -----------------------------------------------------------
REPORTING 7 SOLE DISPOSITIVE POWER
PERSON
WITH 22,085,263
-----------------------------------------------------------
8 SHARED DISPOSITIVE POWER

0
- --------------------------------------------------------------------------------
9 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON

22,085,263
- --------------------------------------------------------------------------------
10 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES*

N/A
- --------------------------------------------------------------------------------
11 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW 9

10.71%
- --------------------------------------------------------------------------------
12 TYPE OF REPORTING PERSON*

IA
- --------------------------------------------------------------------------------


PAGE 2 OF 4 PAGES

Item 1(a) Name of Issuer:
Pitney Bowes, Inc.

Item 1(b) Address of Issuer's Principal Executive Offices:
1 Elmcroft Road
Stamford, CT 06929
United States

Item 2(a) Name of Person Filing:
NWQ Investment Management Company, LLC

Item 2(b) Address of the Principal Office or, if none, Residence:
2049 Century Park East, 16th Floor
Los Angeles, CA 90067

Item 2(c) Citizenship:
Delaware - U.S.A.

Item 2(d) Title of Class of Securities:
Common

Item 2(e) CUSIP Number:
724479100

Item 3 If the Statement is being filed pursuant to Rule
13d-1(b), or 13d-2(b), check whether the person filing
is a:

(e) [X] An investment advisor in accordance with
section 240.13d-1(b)(1)(ii)(E)

Item 4 Ownership:
(a) Amount Beneficially Owned:
22,085,263

(b) Percent of Class:
10.71%

(c) Number of shares as to which such person has:

(i) sole power to vote or direct the vote:
19,370,103

(ii) shared power to vote or direct the vote:
0

(iii) sole power to dispose or to direct the disposition
of:
22,085,263

(iv) shared power to dispose or to direct the
disposition of:
0

Item 5 Ownership of Five Percent or Less of a Class:
Not applicable.


PAGE 3 OF 4 PAGES

Item 6 Ownership of More than Five Percent on Behalf of Another
Person:
Securities reported on this Schedule 13G are
beneficially owned by clients which may include
investment companies registered under the Investment
Company Act and/or employee benefit plans, pensions,
Charitable funds or other institutional and high net
worth clients.

Item 7 Identification and Classification of the Subsidiary
Which Acquired the Security Being Reported on By the
Parent Holding Company:
Not applicable.

Item 8 Identification and Classification of Members of the
Group:
Not applicable.

Item 9 Notice of Dissolution of a Group:
Not applicable.

Item 10 Certification:
By signing below I certify that, to the best of my and
belief, the securities referred to above were acquired
and are held in the ordinary course of business and were
not acquired and are not held for the purpose of or with
the effect of changing or influencing the control of the
issuer of such securities and were not acquired in
connection with or as a participant in any transaction
having such purpose or effect.

After reasonable inquiry and to the best of my knowledge and belief, I certify
that the information set forth in this statement is true, complete and correct.

Dated: February 13, 2009

NWQ Investment Management Company, LLC

By: /s/ Jon D. Bosse
----------------
Jon D. Bosse, CFA
Chief Investment Officer


PAGE 4 OF 4 PAGES