Charles Schwab Investment Management Inc. Reduces Stake in Deluxe Corporation $DLX

Key Points

• Charles Schwab Investment Management Inc. reduced its stake in Deluxe Corporation by 3.3% in Q1, now owning approximately 1.35% of the company's shares valued at $9.5M.
• Deluxe has faced changes in institutional ownership, with GAMMA Investing LLC increasing its stake by 1,067% during the same period.
• The company recently announced a quarterly dividend of $0.30 per share, with a total annual yield of 6.0%.

Charles Schwab Investment Management Inc. lowered its stake in shares of Deluxe Corporation (NYSE:DLX - Free Report) by 3.3% in the first quarter, according to its most recent disclosure with the SEC. The fund owned 603,894 shares of the business services provider's stock after selling 20,440 shares during the period. Charles Schwab Investment Management Inc. owned approximately 1.35% of Deluxe worth $9,548,000 as of its most recent filing with the SEC.

Other large investors have also recently added to or reduced their stakes in the company. Dimensional Fund Advisors LP grew its stake in shares of Deluxe by 8.1% during 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. LSV Asset Management grew its position in 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 in the last quarter. Northern Trust Corp grew 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 in the last quarter. Bridgeway Capital Management LLC grew its position in shares of Deluxe by 2.8% in the 4th quarter. Bridgeway Capital Management LLC now owns 418,624 shares of the business services provider's stock valued at $9,457,000 after acquiring an additional 11,233 shares during the period. Finally, Principal Financial Group Inc. grew its position in shares of Deluxe by 2.7% in the 1st quarter. Principal Financial Group Inc. now owns 220,472 shares of the business services provider's stock valued at $3,486,000 after acquiring an additional 5,782 shares during the period. 93.90% of the stock is owned by institutional investors.

Deluxe Stock Up 1.5%

Deluxe stock traded up $0.29 during mid-day trading on Friday, reaching $19.68. The stock had a trading volume of 237,629 shares, compared to its average volume of 419,453. The company 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 debt-to-equity ratio of 2.24, a current ratio of 0.94 and a quick ratio of 0.85. The company has a market capitalization of $883.11 million, a price-to-earnings ratio of 15.25, a PEG ratio of 0.53 and a beta of 1.49. Deluxe Corporation has a one year low of $13.61 and a one year high of $24.45.

Deluxe (NYSE:DLX - Get Free Report) last released its quarterly 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 net margin of 2.75% and a return on equity of 21.12%. The business's revenue for the quarter was down 3.1% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.86 EPS. On average, analysts expect that Deluxe Corporation will post 2.77 EPS for the current fiscal year.

Deluxe Dividend Announcement

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

Wall Street Analyst Weigh In

A number of analysts have recently issued reports on DLX shares. Cowen restated a "buy" rating on shares of Deluxe in a research note on Thursday, August 7th. Wall Street Zen lowered shares of Deluxe from a "strong-buy" rating to a "buy" rating in a research note on Saturday, August 9th. 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, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $23.00.

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.