StockNews.com Downgrades Deluxe (NYSE:DLX) to Buy

StockNews.com cut shares of Deluxe (NYSE:DLX - Free Report) from a strong-buy rating to a buy rating in a research report report published on Wednesday.

Separately, Sidoti raised shares of Deluxe to a "hold" rating in a research note on Thursday, January 30th.

Deluxe Price Performance

DLX stock traded down $0.53 on Wednesday, reaching $15.87. The company had a trading volume of 272,763 shares, compared to its average volume of 267,173. The company's fifty day moving average is $18.37 and its 200 day moving average is $20.29. The company has a market cap of $709.70 million, a P/E ratio of 13.45, a PEG ratio of 0.52 and a beta of 1.46. The company has a debt-to-equity ratio of 2.36, a quick ratio of 0.83 and a current ratio of 0.98. Deluxe has a 1 year low of $15.13 and a 1 year high of $24.87.

Deluxe (NYSE:DLX - Get Free Report) last posted its quarterly earnings data on Wednesday, February 5th. The business services provider reported $0.75 EPS for the quarter, missing analysts' consensus estimates of $0.80 by ($0.05). Deluxe had a net margin of 2.49% and a return on equity of 21.33%. On average, research analysts forecast that Deluxe will post 2.77 earnings per share for the current year.

Remove Ads

Deluxe Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, March 3rd. Stockholders of record on Tuesday, February 18th were issued a dividend of $0.30 per share. The ex-dividend date of this dividend was Tuesday, February 18th. This represents a $1.20 annualized dividend and a dividend yield of 7.56%. Deluxe's payout ratio is currently 101.69%.

Insider Buying and Selling

In other news, CEO Barry C. Mccarthy purchased 3,926 shares of the company's stock in a transaction on Monday, March 10th. The stock was bought at an average cost of $16.45 per share, for a total transaction of $64,582.70. Following the completion of the purchase, the chief executive officer now directly owns 272,851 shares of the company's stock, valued at $4,488,398.95. The trade was a 1.46 % increase in their position. The purchase was disclosed in a document filed with the SEC, which is available at this hyperlink. Corporate insiders own 5.60% of the company's stock.

Institutional Investors Weigh In On Deluxe

Several hedge funds and other institutional investors have recently bought and sold shares of DLX. Universal Beteiligungs und Servicegesellschaft mbH acquired a new stake in Deluxe in the fourth quarter worth about $2,565,000. Mackenzie Financial Corp raised its stake in shares of Deluxe by 99.5% during the 4th quarter. Mackenzie Financial Corp now owns 52,040 shares of the business services provider's stock worth $1,176,000 after purchasing an additional 25,961 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its holdings in Deluxe by 15.7% in the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 100,719 shares of the business services provider's stock worth $2,275,000 after buying an additional 13,683 shares during the last quarter. Two Sigma Advisers LP increased its stake in shares of Deluxe by 19.7% during the 4th quarter. Two Sigma Advisers LP now owns 15,200 shares of the business services provider's stock worth $343,000 after purchasing an additional 2,500 shares during the last quarter. Finally, ProShare Advisors LLC acquired a new stake in shares of Deluxe in the fourth quarter worth about $301,000. 93.90% of the stock is currently owned by hedge funds and other 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.