Algert Global LLC Sells 78,388 Shares of Deluxe Corporation $DLX

Key Points

• Algert Global LLC has reduced its stake in Deluxe Corporation by 63.3%, now owning 45,421 shares worth approximately $718,000.
• Deluxe's stock has received downgraded ratings from analysts, with Wall Street Zen lowering its rating from "strong-buy" to "buy" and setting a consensus price target of $23.00.
• The company announced a quarterly dividend of $0.30 per share, resulting in a dividend yield of 6.0%, scheduled to be paid on September 2nd.

Algert Global LLC trimmed its stake in shares of Deluxe Corporation (NYSE:DLX - Free Report) by 63.3% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 45,421 shares of the business services provider's stock after selling 78,388 shares during the quarter. Algert Global LLC owned approximately 0.10% of Deluxe worth $718,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds also recently made changes to their positions in the stock. Brandywine Global Investment Management LLC raised its position in shares of Deluxe by 14.2% during the first quarter. Brandywine Global Investment Management LLC now owns 154,840 shares of the business services provider's stock worth $2,448,000 after acquiring an additional 19,310 shares during the last quarter. Russell Investments Group Ltd. grew its stake in Deluxe by 1.7% during the first quarter. Russell Investments Group Ltd. now owns 512,958 shares of the business services provider's stock worth $8,110,000 after purchasing an additional 8,339 shares during the period. Public Sector Pension Investment Board grew its stake in Deluxe by 27.3% during the first quarter. Public Sector Pension Investment Board now owns 140,376 shares of the business services provider's stock worth $2,219,000 after purchasing an additional 30,083 shares during the period. Nuveen LLC acquired a new stake in Deluxe during the first quarter worth approximately $5,281,000. Finally, Connor Clark & Lunn Investment Management Ltd. grew its stake in Deluxe by 9.0% during the first quarter. Connor Clark & Lunn Investment Management Ltd. now owns 222,431 shares of the business services provider's stock worth $3,517,000 after purchasing an additional 18,443 shares during the period. 93.90% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several equities research analysts recently commented on the company. Wall Street Zen cut Deluxe from a "strong-buy" rating to a "buy" rating in a research note on Saturday, August 9th. TD Securities decreased their target price on Deluxe from $33.00 to $23.00 and set a "buy" rating for the company in a research note on Thursday, May 1st. Finally, Cowen reaffirmed a "buy" rating on shares of Deluxe in a research note on Thursday, August 7th. Two investment analysts have rated the stock with a Buy rating and one has given a Hold rating to the company's stock. According to data from MarketBeat.com, Deluxe currently has an average rating of "Moderate Buy" and a consensus price target of $23.00.

Deluxe Stock Up 5.3%

Shares of NYSE:DLX opened at $20.0410 on Friday. The business's 50 day simple moving average is $16.88 and its two-hundred day simple moving average is $16.11. The firm has a market cap of $899.54 million, a P/E ratio of 15.54, a PEG ratio of 0.55 and a beta of 1.49. The company has a debt-to-equity ratio of 2.24, a quick ratio of 0.85 and a current ratio of 0.94. Deluxe Corporation has a 52-week low of $13.61 and a 52-week high of $24.45.

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

Deluxe Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 2nd. Stockholders of record on Monday, August 18th will be paid a $0.30 dividend. The ex-dividend date of this dividend is Monday, August 18th. This represents a $1.20 annualized dividend and a dividend yield of 6.0%. Deluxe's dividend payout ratio is 93.02%.

Deluxe Company 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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