Deluxe (NYSE:DLX) Lowered to Buy Rating by StockNews.com

StockNews.com lowered shares of Deluxe (NYSE:DLX) from a strong-buy rating to a buy rating in a research note released on Thursday morning.

Separately, Sidoti upgraded Deluxe to a “hold” rating in a research note on Thursday, January 30th.

Deluxe Stock Down 11.2 %

Shares of NYSE:DLX opened at $20.05 on Thursday. The business has a fifty day simple moving average of $22.70 and a 200 day simple moving average of $21.29. Deluxe has a 12-month low of $18.48 and a 12-month high of $24.87. The firm has a market cap of $887.39 million, a P/E ratio of 16.17, a P/E/G ratio of 0.64 and a beta of 1.52. 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 (NYSE:DLX) last released its earnings results on Wednesday, February 5th. The business services provider reported $0.75 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.80 by ($0.05). Deluxe had a net margin of 2.58% and a return on equity of 21.15%. Analysts predict that Deluxe will post 2.95 earnings per share for the current year.

Deluxe Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, March 3rd. Investors of record on Tuesday, February 18th will be given a dividend of $0.30 per share. The ex-dividend date is Tuesday, February 18th. This represents a $1.20 dividend on an annualized basis and a yield of 5.99%. Deluxe’s dividend payout ratio (DPR) is currently 96.77%.

Insider Activity at Deluxe

In other news, CEO Barry C. Mccarthy acquired 2,290 shares of the business’s stock in a transaction that occurred on Thursday, December 5th. The shares were bought at an average cost of $23.57 per share, with a total value of $53,975.30. Following the transaction, the chief executive officer now owns 180,960 shares of the company’s stock, valued at $4,265,227.20. This trade represents a 1.28 % increase in their position. The purchase was disclosed in a legal filing with the SEC, which can be accessed through this link. 4.23% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Deluxe

Hedge funds have recently added to or reduced their stakes in the company. Smartleaf Asset Management LLC lifted its holdings in shares of Deluxe by 93.7% during the fourth quarter. Smartleaf Asset Management LLC now owns 1,104 shares of the business services provider’s stock valued at $25,000 after purchasing an additional 534 shares in the last quarter. Truvestments Capital LLC purchased a new position in shares of Deluxe during the third quarter valued at about $32,000. Wilmington Savings Fund Society FSB purchased a new stake in shares of Deluxe during the 3rd quarter worth approximately $36,000. FMR LLC lifted its position in Deluxe by 57.2% during the third quarter. FMR LLC now owns 3,206 shares of the business services provider’s stock valued at $62,000 after purchasing an additional 1,166 shares during the last quarter. Finally, KBC Group NV raised its holdings in Deluxe by 63.5% during the 4th quarter. KBC Group NV now owns 3,237 shares of the business services provider’s stock valued at $73,000 after buying an additional 1,257 shares during the period. 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.