Deluxe Corporation $DLX Shares Sold by Kendall Capital Management

Key Points

• Kendall Capital Management reduced its stake in Deluxe Corporation by 35.2%, now holding 28,096 shares, worth approximately $447,000.
• Deluxe reported an earnings per share of $0.88 for the last quarter, exceeding estimates, while revenues totaled $521.3 million, down 3.1% from the previous year.
• The company declared a quarterly dividend of $0.30 per share, resulting in an annualized yield of 6.2%, with a payout ratio of 93.02%.

Kendall Capital Management trimmed its position in Deluxe Corporation (NYSE:DLX - Free Report) by 35.2% in the second quarter, according to its most recent disclosure with the SEC. The institutional investor owned 28,096 shares of the business services provider's stock after selling 15,290 shares during the period. Kendall Capital Management owned 0.06% of Deluxe worth $447,000 at the end of the most recent reporting period.

Other hedge funds have also bought and sold shares of the company. Strs Ohio acquired a new position in Deluxe in the first quarter worth about $30,000. GAMMA Investing LLC boosted its stake in Deluxe by 1,067.0% in the first quarter. GAMMA Investing LLC now owns 2,229 shares of the business services provider's stock valued at $35,000 after acquiring an additional 2,038 shares during the period. Security National Bank boosted its stake in Deluxe by 97.8% in the first quarter. Security National Bank now owns 3,567 shares of the business services provider's stock valued at $56,000 after acquiring an additional 1,764 shares during the period. Quarry LP boosted its stake in Deluxe by 105.8% in the first quarter. Quarry LP now owns 3,685 shares of the business services provider's stock valued at $58,000 after acquiring an additional 1,894 shares during the period. Finally, Mitsubishi UFJ Asset Management Co. Ltd. boosted its stake in Deluxe by 11.2% in the first quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 7,874 shares of the business services provider's stock valued at $124,000 after acquiring an additional 790 shares during the period. 93.90% of the stock is currently owned by institutional investors and hedge funds.

Deluxe Price Performance

Shares of NYSE:DLX opened at $19.48 on Friday. Deluxe Corporation has a 12 month low of $13.61 and a 12 month high of $24.45. The stock has a market cap of $874.40 million, a price-to-earnings ratio of 15.10, a PEG ratio of 0.53 and a beta of 1.53. The stock's 50 day moving average price is $18.65 and its 200 day moving average price is $16.51. The company has a debt-to-equity ratio of 2.24, a current ratio of 0.94 and a quick ratio of 0.85.

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

Deluxe Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, September 2nd. Shareholders of record on Monday, August 18th were given a dividend of $0.30 per share. This represents a $1.20 annualized dividend and a yield of 6.2%. The ex-dividend date was Monday, August 18th. Deluxe's payout ratio is presently 93.02%.

Analysts Set New Price Targets

A number of equities analysts have commented on DLX shares. Cowen restated a "buy" rating on shares of Deluxe in a research note on Thursday, August 7th. Wall Street Zen downgraded Deluxe from a "strong-buy" rating to a "buy" rating in a research note on Saturday, August 9th. Two research analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company's stock. According to data from MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus price target of $23.00.

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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