Deluxe Corporation $DLX Shares Sold by Algert Global LLC

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

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. GAMMA Investing LLC raised its holdings in Deluxe by 1,067.0% during the first quarter. GAMMA Investing LLC now owns 2,229 shares of the business services provider's stock worth $35,000 after purchasing an additional 2,038 shares during the last quarter. Principal Financial Group Inc. raised its holdings in Deluxe by 2.7% during the first quarter. Principal Financial Group Inc. now owns 220,472 shares of the business services provider's stock worth $3,486,000 after purchasing an additional 5,782 shares during the last quarter. Nuveen LLC acquired a new position in Deluxe during the first quarter worth $5,281,000. LSV Asset Management raised its holdings in Deluxe by 1.7% during the first quarter. LSV Asset Management now owns 1,848,739 shares of the business services provider's stock worth $29,229,000 after purchasing an additional 30,608 shares during the last quarter. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its holdings in Deluxe by 3.4% during the fourth quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 25,188 shares of the business services provider's stock worth $569,000 after purchasing an additional 835 shares during the last quarter. 93.90% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several brokerages recently issued reports on DLX. Wall Street Zen cut Deluxe from a "strong-buy" rating to a "buy" rating in a report on Saturday, August 9th. Cowen reaffirmed a "buy" rating on shares of Deluxe in a report on Thursday, August 7th. Finally, TD Securities reduced their price objective on Deluxe from $33.00 to $23.00 and set a "buy" rating for the company in a report on Thursday, May 1st. Two research analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the stock. Based on data from MarketBeat.com, Deluxe presently has a consensus rating of "Moderate Buy" and an average target price of $23.00.

Deluxe Price Performance

Shares of NYSE DLX traded up $0.29 during trading on Friday, reaching $19.68. The company had a trading volume of 237,629 shares, compared to its average volume of 419,453. Deluxe Corporation has a twelve month low of $13.61 and a twelve month high of $24.45. The stock has a market capitalization of $883.01 million, a PE ratio of 15.25, a price-to-earnings-growth ratio of 0.53 and a beta of 1.49. The stock has a 50-day moving average price of $17.37 and a two-hundred day moving average price of $16.16. The company has a current ratio of 0.94, a quick ratio of 0.85 and a debt-to-equity ratio of 2.24.

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

Deluxe Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, September 2nd. Investors of record on Monday, August 18th will be paid a $0.30 dividend. This represents a $1.20 annualized dividend and a yield of 6.1%. The ex-dividend date is Monday, August 18th. Deluxe's dividend payout ratio is presently 93.02%.

About Deluxe

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.