Zacks Investment Research upgraded shares of Deluxe Corp. (NYSE:DLX) from a hold rating to a buy rating in a research report released on Thursday morning. They currently have $76.00 price target on the stock.
According to Zacks, “Deluxe Corporation, through its industry-leading businesses and brands, helps financial institutions and small businesses better manage, promote, and grow their businesses. The Company uses direct marketing, distributors, and a North American sales force to provide a wide range of customized products and services: personalized printed items checks, forms, business cards, stationery, greeting cards, labels, and retail/packaging supplies, promotional products and merchandising materials, fraud prevention services, and customer retention programs. The Company also sells personalized checks and accessories directly to consumers. “
Shares of Deluxe Corp. (NYSE:DLX) opened at 66.85 on Thursday. The firm has a market capitalization of $3.26 billion, a P/E ratio of 14.24 and a beta of 1.47. The firm’s 50-day moving average price is $68.01 and its 200-day moving average price is $65.24. Deluxe Corp. has a 12-month low of $49.46 and a 12-month high of $70.26.
Deluxe Corp. (NYSE:DLX) last posted its quarterly earnings data on Thursday, July 28th. The company reported $1.20 EPS for the quarter, topping the Zacks’ consensus estimate of $1.18 by $0.02. Deluxe Corp. had a net margin of 12.86% and a return on equity of 31.19%. The company earned $450.60 million during the quarter, compared to the consensus estimate of $450.56 million. During the same period in the prior year, the business posted $1.13 EPS. The company’s quarterly revenue was up 3.4% on a year-over-year basis. Equities analysts predict that Deluxe Corp. will post $4.93 earnings per share for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, September 6th. Stockholders of record on Monday, August 22nd were paid a dividend of $0.30 per share. The ex-dividend date was Thursday, August 18th. This represents a $1.20 dividend on an annualized basis and a dividend yield of 1.80%. Deluxe Corp.’s dividend payout ratio is 25.59%.
In other news, Director Neil Metviner sold 8,000 shares of the company’s stock in a transaction dated Tuesday, September 6th. The shares were sold at an average price of $69.23, for a total value of $553,840.00. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. 2.90% of the stock is currently owned by insiders.
Several large investors have recently modified their holdings of DLX. FMR LLC boosted its stake in shares of Deluxe Corp. by 8.2% in the second quarter. FMR LLC now owns 4,459,001 shares of the company’s stock worth $295,944,000 after buying an additional 339,794 shares during the last quarter. LSV Asset Management boosted its stake in shares of Deluxe Corp. by 13.0% in the second quarter. LSV Asset Management now owns 1,613,605 shares of the company’s stock worth $107,094,000 after buying an additional 185,495 shares during the last quarter. Emerald Acquisition Ltd. purchased a new stake in shares of Deluxe Corp. during the second quarter worth about $11,750,000. Falcon Point Capital LLC purchased a new stake in shares of Deluxe Corp. during the second quarter worth about $10,236,000. Finally, Nicholas Co. Inc. WI boosted its stake in shares of Deluxe Corp. by 186.6% in the second quarter. Nicholas Co. Inc. WI now owns 232,590 shares of the company’s stock worth $15,436,000 after buying an additional 151,440 shares during the last quarter. 90.57% of the stock is currently owned by institutional investors.
About Deluxe Corp.
Deluxe Corporation provides payment solutions. The Company operates in three segments: Small Business Services segment, Financial Services segment and Direct Checks segment. Its Small Business Services segment offers services for marketing needs of small businesses, including Web design, hosting and other Web services; search engine optimization; marketing services, including e-mail, mobile, social media and other self-service marketing solutions; digital printing services, and logo design.
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