Deluxe (NYSE:DLX) Shares Gap Down - Here's Why

Deluxe Co. (NYSE:DLX - Get Free Report)'s stock price gapped down before the market opened on Tuesday . The stock had previously closed at $23.41, but opened at $22.69. Deluxe shares last traded at $22.80, with a volume of 17,699 shares traded.

Wall Street Analysts Forecast Growth

Separately, StockNews.com upgraded Deluxe from a "buy" rating to a "strong-buy" rating in a research report on Wednesday, November 13th.

Deluxe Price Performance

The stock has a market capitalization of $1.02 billion, a PE ratio of 18.89, a P/E/G ratio of 0.66 and a beta of 1.46. The firm's 50 day simple moving average is $19.85 and its 200 day simple moving average is $21.10. The company has a debt-to-equity ratio of 2.38, a current ratio of 0.92 and a quick ratio of 0.83.

Deluxe Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, December 2nd. Shareholders of record on Tuesday, November 19th will be given a dividend of $0.30 per share. This represents a $1.20 dividend on an annualized basis and a yield of 5.22%. The ex-dividend date is Tuesday, November 19th. Deluxe's payout ratio is 96.77%.

Insiders Place Their Bets

In related news, CEO Barry C. Mccarthy purchased 2,820 shares of the company's stock in a transaction dated Tuesday, September 10th. The shares were purchased at an average cost of $19.08 per share, with a total value of $53,805.60. Following the transaction, the chief executive officer now directly owns 178,670 shares in the company, valued at $3,409,023.60. This trade represents a 1.60 % increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Company insiders own 4.23% of the company's stock.

Hedge Funds Weigh In On Deluxe

Large investors have recently modified their holdings of the stock. Vanguard Group Inc. boosted its holdings in shares of Deluxe by 3.4% during the 1st quarter. Vanguard Group Inc. now owns 5,167,850 shares of the business services provider's stock valued at $106,406,000 after acquiring an additional 171,998 shares during the last quarter. Dimensional Fund Advisors LP grew its position in shares of Deluxe by 6.4% during the second quarter. Dimensional Fund Advisors LP now owns 2,040,327 shares of the business services provider's stock valued at $45,824,000 after purchasing an additional 123,361 shares in the last quarter. Millennium Management LLC raised its holdings in shares of Deluxe by 249.9% during the 2nd quarter. Millennium Management LLC now owns 169,473 shares of the business services provider's stock worth $3,806,000 after acquiring an additional 121,042 shares in the last quarter. Arjuna Capital bought a new position in Deluxe during the third quarter valued at $1,490,000. Finally, Intech Investment Management LLC bought a new position in shares of Deluxe in the 3rd quarter valued at about $1,303,000. Hedge funds and other institutional investors own 93.90% of the company's stock.

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.

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