Deluxe (NYSE:DLX) Hits New 1-Year High - Here's What Happened

Key Points

• Deluxe (DLX) hit a new 52-week high of $29.13, last trading at $29.1140 on a volume of 30,305 shares.
• Analyst sentiment is mixed but tilted positive — Weiss Ratings upgraded DLX to a Buy, three analysts rate it Buy and two rate it Hold, giving a MarketBeat average of Moderate Buy with an average target of $23 (below the current price).
• Deluxe pays a quarterly dividend of $0.30 (annualized $1.20) for a yield of 4.1% and has a payout ratio of about 63.8%.

Deluxe Corporation (NYSE:DLX - Get Free Report)'s stock price hit a new 52-week high on Tuesday . The stock traded as high as $29.13 and last traded at $29.1140, with a volume of 30305 shares trading hands. The stock had previously closed at $28.80.

Wall Street Analyst Weigh In

Several brokerages have recently weighed in on DLX. Weiss Ratings raised shares of Deluxe from a "hold (c+)" rating to a "buy (b-)" rating in a report on Tuesday, February 10th. Zacks Research downgraded shares of Deluxe from a "strong-buy" rating to a "hold" rating in a report on Friday. Three research analysts have rated the stock with a Buy rating and two have given a Hold rating to the company's stock. According to data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average target price of $23.00.

Deluxe Trading Up 1.1%

The company has a debt-to-equity ratio of 2.08, a current ratio of 1.04 and a quick ratio of 0.98. The company has a market cap of $1.31 billion, a price-to-earnings ratio of 15.52, a PEG ratio of 0.66 and a beta of 1.33. The business's 50-day simple moving average is $27.36 and its 200-day simple moving average is $23.30.

Deluxe Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, February 23rd. Shareholders of record on Monday, February 9th were given a dividend of $0.30 per share. The ex-dividend date was Monday, February 9th. This represents a $1.20 dividend on an annualized basis and a yield of 4.1%. Deluxe's payout ratio is presently 63.83%.

Hedge Funds Weigh In On Deluxe

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. UMB Bank n.a. raised its position in Deluxe by 3,597.9% during the fourth quarter. UMB Bank n.a. now owns 1,738 shares of the business services provider's stock worth $39,000 after acquiring an additional 1,691 shares during the last quarter. Strs Ohio acquired a new position in Deluxe during the first quarter worth about $30,000. Raymond James Financial Inc. acquired a new position in Deluxe during the second quarter worth about $31,000. TD Waterhouse Canada Inc. acquired a new position in Deluxe during the fourth quarter worth about $45,000. Finally, EverSource Wealth Advisors LLC raised its position in Deluxe by 33.9% during the fourth quarter. EverSource Wealth Advisors LLC now owns 2,179 shares of the business services provider's stock worth $49,000 after acquiring an additional 552 shares during the last quarter. Institutional investors and hedge funds own 93.90% of the company's stock.

About Deluxe

Deluxe Corporation, founded in 1915 and headquartered in Shoreview, Minnesota, is a provider of integrated business and financial technology solutions. Originally established as a check printing company, Deluxe has evolved its offerings to support small businesses, financial institutions and entrepreneurs with a comprehensive suite of services spanning print, digital and software platforms.

The company's core business activities include printing checks, forms and promotional materials, as well as delivering digital marketing and customer engagement solutions.

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