StockNews.com lowered shares of Deluxe (NYSE:DLX – Free Report) from a strong-buy rating to a buy rating in a report published on Sunday.
DLX has been the topic of several other reports. Northcoast Research started coverage on Deluxe in a research note on Friday, April 19th. They set a buy rating and a $27.00 price objective on the stock. TD Cowen lifted their target price on Deluxe from $33.00 to $35.00 and gave the stock a buy rating in a report on Tuesday, May 14th.
Deluxe Price Performance
Shares of DLX stock traded up $0.38 during trading hours on Friday, hitting $24.44. The stock had a trading volume of 211,258 shares, compared to its average volume of 235,868. The company has a debt-to-equity ratio of 2.53, a current ratio of 0.97 and a quick ratio of 0.88. The stock has a market capitalization of $1.08 billion, a price-to-earnings ratio of 31.74, a PEG ratio of 0.70 and a beta of 1.47. Deluxe has a one year low of $16.00 and a one year high of $24.66. The stock’s 50-day moving average price is $22.46 and its two-hundred day moving average price is $20.97.
Deluxe (NYSE:DLX – Get Free Report) last released its quarterly earnings data on Wednesday, May 1st. The business services provider reported $0.67 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.60 by $0.07. The business had revenue of $535.00 million for the quarter, compared to the consensus estimate of $527.45 million. Deluxe had a return on equity of 21.33% and a net margin of 1.57%. Equities analysts forecast that Deluxe will post 2.92 EPS for the current year.
Deluxe Dividend Announcement
The company also recently declared a quarterly dividend, which was paid on Monday, June 3rd. Investors of record on Monday, May 20th were issued a dividend of $0.30 per share. The ex-dividend date was Friday, May 17th. This represents a $1.20 annualized dividend and a yield of 4.91%. Deluxe’s payout ratio is 155.85%.
Insider Buying and Selling
In other Deluxe news, CEO Barry C. Mccarthy bought 2,440 shares of the company’s stock in a transaction on Monday, June 10th. The stock was acquired at an average price of $21.63 per share, for a total transaction of $52,777.20. Following the completion of the transaction, the chief executive officer now directly owns 175,850 shares of the company’s stock, valued at $3,803,635.50. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Insiders have bought 2,675 shares of company stock valued at $58,063 in the last ninety days. 4.23% of the stock is owned by company insiders.
Institutional Investors Weigh In On Deluxe
A number of institutional investors and hedge funds have recently modified their holdings of DLX. CWM LLC lifted its holdings in Deluxe by 555.6% during the 2nd quarter. CWM LLC now owns 1,757 shares of the business services provider’s stock valued at $39,000 after buying an additional 1,489 shares in the last quarter. Security National Bank bought a new stake in shares of Deluxe during the second quarter valued at approximately $40,000. Allspring Global Investments Holdings LLC purchased a new stake in shares of Deluxe in the first quarter valued at approximately $46,000. SG Americas Securities LLC bought a new position in Deluxe in the first quarter worth approximately $111,000. Finally, EMC Capital Management grew its stake in Deluxe by 10.7% in the first quarter. EMC Capital Management now owns 5,417 shares of the business services provider’s stock worth $112,000 after purchasing an additional 522 shares in the last quarter. 93.90% of the stock is owned by institutional investors.
About Deluxe
Deluxe Corporation provides technology-enabled solutions to enterprises, small businesses, and financial institutions in the United States, Canada, and Australia. It operates through Merchant Services, B2B Payments, Data Solutions, and Print segments. The Merchant Services offers credit and debit card authorization and payment systems, as well as processing services primarily to small and medium-sized retail and service businesses.