StockNews.com cut shares of Deluxe (NYSE:DLX - Free Report) from a strong-buy rating to a buy rating in a report released on Thursday morning.
Deluxe Trading Down 1.1 %
Shares of NYSE:DLX opened at $22.50 on Thursday. The company has a 50-day simple moving average of $20.09 and a 200 day simple moving average of $21.13. The company has a market capitalization of $996.08 million, a P/E ratio of 18.15, a price-to-earnings-growth ratio of 0.64 and a beta of 1.46. The company has a debt-to-equity ratio of 2.38, a quick ratio of 0.83 and a current ratio of 0.92. Deluxe has a 52-week low of $17.60 and a 52-week high of $24.87.
Deluxe Dividend Announcement
The business also recently announced a quarterly dividend, which will be paid on Monday, December 2nd. Investors of record on Tuesday, November 19th will be issued a dividend of $0.30 per share. This represents a $1.20 annualized dividend and a dividend yield of 5.33%. The ex-dividend date of this dividend is Tuesday, November 19th. Deluxe's payout ratio is 96.77%.
Insider Activity at Deluxe
In other news, CEO Barry C. Mccarthy bought 2,820 shares of the firm's stock in a transaction dated Tuesday, September 10th. The shares were bought at an average price of $19.08 per share, with a total value of $53,805.60. Following the completion of the transaction, the chief executive officer now owns 178,670 shares of the company's stock, valued at $3,409,023.60. This trade represents a 1.60 % increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is accessible through the SEC website. 4.23% of the stock is owned by company insiders.
Institutional Investors Weigh In On Deluxe
Hedge funds and other institutional investors have recently modified their holdings of the company. Point72 Asia Singapore Pte. Ltd. bought a new position in shares of Deluxe during the second quarter worth approximately $26,000. Innealta Capital LLC bought a new stake in shares of Deluxe during the 2nd quarter valued at $30,000. Truvestments Capital LLC acquired a new position in Deluxe in the third quarter valued at about $32,000. Ariadne Wealth Management LP bought a new stake in Deluxe during the second quarter worth about $35,000. Finally, CWM LLC grew its stake in Deluxe by 555.6% during the second quarter. CWM LLC now owns 1,757 shares of the business services provider's stock worth $39,000 after buying an additional 1,489 shares in the last quarter. Institutional investors and hedge funds own 93.90% of the company's stock.
Deluxe Company Profile
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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.
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