Deluxe Corp. (NYSE:DLX) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a research note issued on Wednesday.
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. “
Deluxe Corp. (NYSE:DLX) opened at 65.95 on Wednesday. Deluxe Corp. has a 52-week low of $49.46 and a 52-week high of $70.26. The stock has a 50 day moving average of $67.92 and a 200 day moving average of $65.26. The stock has a market capitalization of $3.22 billion, a P/E ratio of 14.05 and a beta of 1.47.
Deluxe Corp. (NYSE:DLX) last issued its earnings results on Thursday, July 28th. The company reported $1.20 EPS for the quarter, beating the Thomson Reuters’ 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 had revenue of $450.60 million for the quarter, compared to the consensus estimate of $450.56 million. During the same quarter in the previous year, the company earned $1.13 EPS. The firm’s revenue for the quarter was up 3.4% compared to the same quarter last year. On average, equities research analysts forecast that Deluxe Corp. will post $4.93 EPS for the current year.
The company also recently announced a quarterly dividend, which was paid on Tuesday, September 6th. Stockholders of record on Monday, August 22nd were paid a $0.30 dividend. The ex-dividend date was Thursday, August 18th. This represents a $1.20 annualized dividend and a dividend yield of 1.82%. Deluxe Corp.’s dividend payout ratio is presently 25.59%.
In related 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 transaction of $553,840.00. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. 2.90% of the stock is currently owned by insiders.
A number of hedge funds and other institutional investors have recently modified their holdings of DLX. FMR LLC increased its position 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 valued at $295,944,000 after buying an additional 339,794 shares during the period. LSV Asset Management increased its position 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 valued at $107,094,000 after buying an additional 185,495 shares during the period. Emerald Acquisition Ltd. bought a new position in shares of Deluxe Corp. during the second quarter valued at about $11,750,000. Falcon Point Capital LLC bought a new position in shares of Deluxe Corp. during the second quarter valued at about $10,236,000. Finally, Nicholas Co. Inc. WI increased its position 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 valued at $15,436,000 after buying an additional 151,440 shares during the period. Institutional investors and hedge funds own 90.57% of the company’s stock.
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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