Dynamic Technology Lab Private Ltd Makes New Investment in Deluxe Corporation $DLX

Key Points

• Dynamic Technology Lab Private Ltd has acquired 20,570 shares of Deluxe Corporation, valued at approximately $325,000.
• Deluxe Corporation's average rating among analysts is a "Moderate Buy," with a consensus target price of $23.00.
• The company recently announced a quarterly dividend of $0.30, resulting in a 6.1% dividend yield for shareholders.

Dynamic Technology Lab Private Ltd purchased a new position in shares of Deluxe Corporation (NYSE:DLX - Free Report) in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 20,570 shares of the business services provider's stock, valued at approximately $325,000.

Other hedge funds and other institutional investors have also made changes to their positions in the company. GAMMA Investing LLC grew its position in shares of Deluxe by 1,067.0% in the first quarter. GAMMA Investing LLC now owns 2,229 shares of the business services provider's stock valued at $35,000 after purchasing an additional 2,038 shares during the period. Principal Financial Group Inc. grew its position in shares of Deluxe by 2.7% in the first quarter. Principal Financial Group Inc. now owns 220,472 shares of the business services provider's stock valued at $3,486,000 after purchasing an additional 5,782 shares during the period. Nuveen LLC purchased a new stake in shares of Deluxe in the first quarter valued at $5,281,000. LSV Asset Management grew its position in shares of Deluxe by 1.7% in the first quarter. LSV Asset Management now owns 1,848,739 shares of the business services provider's stock valued at $29,229,000 after purchasing an additional 30,608 shares during the period. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its position in shares of Deluxe by 3.4% in the fourth quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 25,188 shares of the business services provider's stock valued at $569,000 after purchasing an additional 835 shares during the period. Hedge funds and other institutional investors own 93.90% of the company's stock.

Analyst Ratings Changes

A number of equities research analysts have recently commented on DLX shares. Wall Street Zen downgraded Deluxe from a "strong-buy" rating to a "buy" rating in a research report on Saturday, August 9th. Cowen reaffirmed a "buy" rating on shares of Deluxe in a research report on Thursday, August 7th. Two research analysts have rated the stock with a Buy rating and one has issued a Hold rating to the stock. According to MarketBeat, Deluxe has a consensus rating of "Moderate Buy" and a consensus target price of $23.00.

Deluxe Trading Up 1.9%

DLX stock traded up $0.37 during trading on Thursday, reaching $19.89. 296,107 shares of the stock traded hands, compared to its average volume of 255,565. The business's 50 day moving average price is $18.26 and its 200-day moving average price is $16.36. Deluxe Corporation has a 52-week low of $13.61 and a 52-week high of $24.45. The company has a debt-to-equity ratio of 2.24, a current ratio of 0.94 and a quick ratio of 0.85. The firm has a market capitalization of $892.66 million, a PE ratio of 15.42, a P/E/G ratio of 0.53 and a beta of 1.53.

Deluxe (NYSE:DLX - Get Free Report) last posted its quarterly earnings results on Wednesday, August 6th. The business services provider reported $0.88 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.71 by $0.17. Deluxe had a return on equity of 21.12% and a net margin of 2.75%.The firm had revenue of $521.30 million during the quarter, compared to the consensus estimate of $526.93 million. During the same quarter in the previous year, the business earned $0.86 earnings per share. The firm's quarterly revenue was down 3.1% compared to the same quarter last year. As a group, sell-side analysts forecast that Deluxe Corporation will post 2.77 earnings per share for the current year.

Deluxe Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, September 2nd. Shareholders of record on Monday, August 18th were paid a dividend of $0.30 per share. This represents a $1.20 dividend on an annualized basis and a dividend yield of 6.0%. The ex-dividend date was Monday, August 18th. Deluxe's payout ratio is currently 93.02%.

Deluxe 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.