20,570 Shares in Deluxe Corporation $DLX Bought by Dynamic Technology Lab Private Ltd

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 bought a new position in shares of Deluxe Corporation (NYSE:DLX - Free Report) in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 20,570 shares of the business services provider's stock, valued at approximately $325,000.

A number of other hedge funds and other institutional investors have also recently modified their holdings of DLX. Northern Trust Corp boosted its position in shares of Deluxe by 7.4% during the fourth quarter. Northern Trust Corp now owns 503,321 shares of the business services provider's stock worth $11,370,000 after acquiring an additional 34,659 shares during the last quarter. Bank of America Corp DE boosted its position in shares of Deluxe by 14.2% during the fourth quarter. Bank of America Corp DE now owns 208,622 shares of the business services provider's stock worth $4,713,000 after acquiring an additional 25,943 shares during the last quarter. Deutsche Bank AG lifted its position in Deluxe by 53.3% during the fourth quarter. Deutsche Bank AG now owns 38,701 shares of the business services provider's stock valued at $874,000 after purchasing an additional 13,448 shares during the last quarter. Focus Partners Wealth lifted its position in Deluxe by 12.0% during the fourth quarter. Focus Partners Wealth now owns 13,631 shares of the business services provider's stock valued at $308,000 after purchasing an additional 1,465 shares during the last quarter. Finally, Graham Capital Management L.P. bought a new position in Deluxe during the fourth quarter valued at $427,000. Institutional investors own 93.90% of the company's stock.

Wall Street Analysts Forecast Growth

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

Deluxe Trading Down 1.1%

Shares of DLX opened at $19.59 on Friday. Deluxe Corporation has a twelve month low of $13.61 and a twelve month high of $24.45. The company has a market cap of $878.97 million, a P/E ratio of 15.18, a P/E/G ratio of 0.54 and a beta of 1.53. The company has a current ratio of 0.94, a quick ratio of 0.85 and a debt-to-equity ratio of 2.24. The company's fifty day simple moving average is $18.03 and its 200-day simple moving average is $16.26.

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

Deluxe Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Tuesday, September 2nd. Stockholders of record on Monday, August 18th were paid a $0.30 dividend. The ex-dividend date of this dividend was Monday, August 18th. This represents a $1.20 annualized dividend and a dividend yield of 6.1%. Deluxe's dividend 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.

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