Bank of New York Mellon Corp Cuts Position in Deluxe Corporation (NYSE:DLX)

Bank of New York Mellon Corp decreased its holdings in shares of Deluxe Corporation (NYSE:DLX - Free Report) by 4.2% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 610,303 shares of the business services provider's stock after selling 26,895 shares during the quarter. Bank of New York Mellon Corp owned 1.36% of Deluxe worth $9,649,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also bought and sold shares of the company. Vanguard Group Inc. boosted its stake in Deluxe by 1.2% in the fourth quarter. Vanguard Group Inc. now owns 5,260,552 shares of the business services provider's stock worth $118,836,000 after buying an additional 64,060 shares in the last quarter. Dimensional Fund Advisors LP lifted its position in Deluxe by 8.1% in the fourth quarter. Dimensional Fund Advisors LP now owns 2,361,658 shares of the business services provider's stock valued at $53,351,000 after purchasing an additional 177,534 shares during the last quarter. Invesco Ltd. lifted its position in Deluxe by 6.8% in the fourth quarter. Invesco Ltd. now owns 766,490 shares of the business services provider's stock valued at $17,315,000 after purchasing an additional 49,104 shares during the last quarter. Prudential Financial Inc. lifted its position in Deluxe by 24.7% in the fourth quarter. Prudential Financial Inc. now owns 596,977 shares of the business services provider's stock valued at $13,486,000 after purchasing an additional 118,300 shares during the last quarter. Finally, Northern Trust Corp lifted its position in Deluxe by 7.4% in the fourth quarter. Northern Trust Corp now owns 503,321 shares of the business services provider's stock valued at $11,370,000 after purchasing an additional 34,659 shares during the last quarter. Hedge funds and other institutional investors own 93.90% of the company's stock.

Deluxe Trading Up 0.8%

Shares of Deluxe stock traded up $0.14 during midday trading on Friday, reaching $17.00. 188,194 shares of the company's stock traded hands, compared to its average volume of 320,121. The company has a debt-to-equity ratio of 2.34, a quick ratio of 0.84 and a current ratio of 0.93. The company has a market cap of $760.58 million, a PE ratio of 13.60, a price-to-earnings-growth ratio of 0.48 and a beta of 1.53. The stock has a 50 day moving average of $15.52 and a 200-day moving average of $16.77. Deluxe Corporation has a 12 month low of $13.61 and a 12 month high of $24.87.

Deluxe (NYSE:DLX - Get Free Report) last issued its quarterly earnings results on Wednesday, April 30th. The business services provider reported $0.75 earnings per share for the quarter, topping the consensus estimate of $0.72 by $0.03. The company had revenue of $536.50 million for the quarter, compared to analysts' expectations of $525.43 million. Deluxe had a return on equity of 21.20% and a net margin of 2.64%. The firm's revenue for the quarter was up .3% on a year-over-year basis. During the same period in the prior year, the firm earned $0.76 earnings per share. As a group, equities analysts expect that Deluxe Corporation will post 2.77 EPS for the current fiscal year.

Deluxe Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Monday, June 2nd. Investors of record on Monday, May 19th were given a dividend of $0.30 per share. The ex-dividend date was Monday, May 19th. This represents a $1.20 annualized dividend and a dividend yield of 7.06%. Deluxe's dividend payout ratio (DPR) is presently 96.00%.

Analyst Ratings Changes

Several brokerages have weighed in on DLX. Wall Street Zen upgraded Deluxe from a "buy" rating to a "strong-buy" rating in a research report on Friday, May 30th. TD Securities lowered their price objective on Deluxe from $33.00 to $23.00 and set a "buy" rating for the company in a research report on Thursday, May 1st.

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.