Cubist Systematic Strategies LLC Invests $800,000 in Deluxe Co. (NYSE:DLX)

Cubist Systematic Strategies LLC purchased a new position in shares of Deluxe Co. (NYSE:DLX - Free Report) in the 2nd quarter, according to the company in its most recent filing with the SEC. The institutional investor purchased 35,618 shares of the business services provider's stock, valued at approximately $800,000. Cubist Systematic Strategies LLC owned approximately 0.08% of Deluxe as of its most recent filing with the SEC.

A number of other hedge funds have also made changes to their positions in the stock. Innealta Capital LLC bought a new stake in Deluxe during the 2nd quarter valued at approximately $30,000. CWM LLC increased its stake in Deluxe by 555.6% in the second quarter. CWM LLC now owns 1,757 shares of the business services provider's stock valued at $39,000 after acquiring an additional 1,489 shares during the period. Security National Bank bought a new position in shares of Deluxe during the 2nd quarter worth approximately $40,000. Allspring Global Investments Holdings LLC acquired a new stake in shares of Deluxe in the 1st quarter valued at $46,000. Finally, Federated Hermes Inc. raised its position in Deluxe by 55.9% in the 2nd quarter. Federated Hermes Inc. now owns 2,262 shares of the business services provider's stock valued at $51,000 after purchasing an additional 811 shares during the last quarter. Institutional investors and hedge funds own 93.90% of the company's stock.

Wall Street Analysts Forecast Growth

Separately, StockNews.com downgraded Deluxe from a "strong-buy" rating to a "buy" rating in a research note on Tuesday, August 6th.

Deluxe Stock Performance

NYSE DLX traded up $0.61 during trading on Friday, reaching $19.27. 196,045 shares of the company's stock were exchanged, compared to its average volume of 231,165. The company has a debt-to-equity ratio of 2.44, a current ratio of 0.97 and a quick ratio of 0.87. The business has a 50 day moving average price of $20.02 and a 200-day moving average price of $21.03. The stock has a market capitalization of $848.77 million, a P/E ratio of 24.90, a PEG ratio of 0.58 and a beta of 1.47. Deluxe Co. has a fifty-two week low of $16.00 and a fifty-two week high of $24.87.

Deluxe (NYSE:DLX - Get Free Report) last posted its earnings results on Wednesday, July 31st. The business services provider reported $0.86 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.57 by $0.29. The company had revenue of $537.80 million during the quarter, compared to analysts' expectations of $537.90 million. Deluxe had a net margin of 1.78% and a return on equity of 20.90%. Deluxe's quarterly revenue was down 5.9% compared to the same quarter last year. During the same quarter last year, the company posted $0.83 EPS. Sell-side analysts forecast that Deluxe Co. will post 2.8 earnings per share for the current fiscal year.

Deluxe Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, September 3rd. Investors of record on Monday, August 19th were given a dividend of $0.30 per share. The ex-dividend date was Monday, August 19th. This represents a $1.20 annualized dividend and a yield of 6.23%. Deluxe's dividend payout ratio is 155.84%.

Insiders Place Their Bets

In related news, CEO Barry C. Mccarthy purchased 2,820 shares of Deluxe stock in a transaction dated Tuesday, September 10th. The shares were bought at an average cost of $19.08 per share, for a total transaction of $53,805.60. Following the purchase, the chief executive officer now owns 178,670 shares in the company, valued at approximately $3,409,023.60. This trade represents a 0.00 % increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Corporate insiders own 4.23% of the company's stock.

Deluxe Profile

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.