StockNews.com Upgrades Deluxe (NYSE:DLX) to Strong-Buy

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

Deluxe Stock Up 1.8 %

Shares of DLX opened at $24.13 on Wednesday. The company has a quick ratio of 0.83, a current ratio of 0.92 and a debt-to-equity ratio of 2.38. Deluxe has a 52-week low of $17.60 and a 52-week high of $24.87. The company has a market cap of $1.07 billion, a PE ratio of 19.46, a P/E/G ratio of 0.67 and a beta of 1.46. The business has a fifty day moving average of $19.70 and a 200 day moving average of $21.04.

Deluxe Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, December 2nd. Shareholders of record on Tuesday, November 19th will be paid a $0.30 dividend. This represents a $1.20 annualized dividend and a yield of 4.97%. The ex-dividend date is Tuesday, November 19th. Deluxe’s payout ratio is currently 96.77%.

Insider Activity

In other Deluxe news, CEO Barry C. Mccarthy acquired 2,820 shares of the company’s stock in a transaction that occurred on Tuesday, September 10th. The stock was bought at an average price of $19.08 per share, for a total transaction of $53,805.60. Following the acquisition, the chief executive officer now directly owns 178,670 shares in the company, valued at $3,409,023.60. The trade was a 0.00 % increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Insiders own 4.23% of the company’s stock.

Hedge Funds Weigh In On Deluxe

A number of hedge funds have recently added to or reduced their stakes in DLX. Allspring Global Investments Holdings LLC bought a new position in Deluxe in the first quarter worth approximately $46,000. BNP Paribas Financial Markets increased its stake in shares of Deluxe by 33.4% during the first quarter. BNP Paribas Financial Markets now owns 62,927 shares of the business services provider’s stock valued at $1,296,000 after buying an additional 15,759 shares during the period. Texas Permanent School Fund Corp raised its holdings in shares of Deluxe by 1.5% in the first quarter. Texas Permanent School Fund Corp now owns 38,246 shares of the business services provider’s stock valued at $787,000 after acquiring an additional 552 shares in the last quarter. SG Americas Securities LLC purchased a new stake in Deluxe in the first quarter worth about $111,000. Finally, Russell Investments Group Ltd. grew its holdings in Deluxe by 6.6% during the 1st quarter. Russell Investments Group Ltd. now owns 584,592 shares of the business services provider’s stock worth $12,037,000 after acquiring an additional 36,133 shares in the last quarter. 93.90% of the stock is currently owned by institutional investors.

Deluxe Company 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.