Invesco Ltd. Cuts Position in Deluxe Corporation $DLX

Key Points

• Invesco Ltd. has reduced its stake in Deluxe Corporation by 2.8%, now owning approximately 745,108 shares valued at $11.78 million as of its latest SEC filing.
• Deluxe recently announced a quarterly dividend of $0.30 per share, which equates to an annualized yield of 6.0% and a payout ratio of 93.02%.
• Wall Street analysts have mixed ratings for Deluxe, with a consensus rating of "Moderate Buy" and a price target adjustment down to $23.00 from $33.00.

Invesco Ltd. cut its holdings in Deluxe Corporation (NYSE:DLX - Free Report) by 2.8% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 745,108 shares of the business services provider's stock after selling 21,382 shares during the period. Invesco Ltd. owned 1.67% of Deluxe worth $11,780,000 as of its most recent SEC filing.

Several other large investors have also recently bought and sold shares of DLX. Envestnet Asset Management Inc. bought a new position in Deluxe in the 4th quarter valued at $240,000. Barclays PLC boosted its holdings in Deluxe by 13.6% in the 4th quarter. Barclays PLC now owns 168,640 shares of the business services provider's stock valued at $3,809,000 after purchasing an additional 20,193 shares during the period. Mariner LLC bought a new position in Deluxe in the 4th quarter valued at $273,000. XTX Topco Ltd bought a new position in Deluxe in the 4th quarter valued at $208,000. Finally, Guggenheim Capital LLC boosted its holdings in Deluxe by 7.7% in the 4th quarter. Guggenheim Capital LLC now owns 20,279 shares of the business services provider's stock valued at $458,000 after purchasing an additional 1,452 shares during the period. 93.90% of the stock is owned by institutional investors.

Analyst Ratings Changes

Several analysts have recently weighed in on DLX shares. Cowen restated a "buy" rating on shares of Deluxe in a research report on Thursday, August 7th. TD Securities decreased their target price on shares of Deluxe from $33.00 to $23.00 and set a "buy" rating on the stock in a research report on Thursday, May 1st. Finally, Wall Street Zen cut shares of Deluxe from a "strong-buy" rating to a "buy" rating in a research report on Saturday, August 9th. Two equities 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, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $23.00.

Deluxe Stock Down 2.0%

Shares of NYSE:DLX traded down $0.39 during trading on Thursday, reaching $19.41. 120,511 shares of the stock traded hands, compared to its average volume of 378,602. The stock has a 50-day moving average of $17.18 and a two-hundred day moving average of $16.14. The stock has a market cap of $870.94 million, a P/E ratio of 15.05, a price-to-earnings-growth 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 released its earnings results on Wednesday, August 6th. The business services provider reported $0.88 earnings per share for the quarter, beating the consensus estimate of $0.71 by $0.17. The company had revenue of $521.30 million for the quarter, compared to the consensus estimate of $526.93 million. Deluxe had a return on equity of 21.12% and a net margin of 2.75%.Deluxe's quarterly revenue was down 3.1% compared to the same quarter last year. During the same period in the previous year, the business earned $0.86 earnings per share. As a group, sell-side analysts expect that Deluxe Corporation will post 2.77 earnings per share for the current fiscal year.

Deluxe Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, September 2nd. Stockholders of record on Monday, August 18th will be issued a $0.30 dividend. This represents a $1.20 annualized dividend and a dividend yield of 6.2%. The ex-dividend date is Monday, August 18th. Deluxe's dividend payout ratio (DPR) is 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.