Invesco Ltd. Cuts Stake 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. lowered its stake in Deluxe Corporation (NYSE:DLX - Free Report) by 2.8% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 745,108 shares of the business services provider's stock after selling 21,382 shares during the quarter. Invesco Ltd. owned approximately 1.67% of Deluxe worth $11,780,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also recently bought and sold shares of the company. Dimensional Fund Advisors LP boosted its holdings in 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 acquiring an additional 177,534 shares during the period. LSV Asset Management increased its holdings 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 during the last quarter. Northern Trust Corp lifted its holdings in Deluxe by 7.4% during the fourth quarter. Northern Trust Corp now owns 503,321 shares of the business services provider's stock worth $11,370,000 after acquiring an additional 34,659 shares in the last quarter. Bridgeway Capital Management LLC increased its holdings in Deluxe by 2.8% during the 4th quarter. Bridgeway Capital Management LLC now owns 418,624 shares of the business services provider's stock worth $9,457,000 after purchasing an additional 11,233 shares in the last quarter. Finally, Connor Clark & Lunn Investment Management Ltd. increased its holdings in Deluxe by 9.0% during the 1st quarter. Connor Clark & Lunn Investment Management Ltd. now owns 222,431 shares of the business services provider's stock worth $3,517,000 after purchasing an additional 18,443 shares in the last quarter. 93.90% of the stock is owned by hedge funds and other institutional investors.

Deluxe Stock Up 1.5%

DLX traded up $0.29 on Friday, hitting $19.68. The company had a trading volume of 237,629 shares, compared to its average volume of 419,453. Deluxe Corporation has a 52-week low of $13.61 and a 52-week high of $24.45. The stock has a fifty day simple moving average of $17.37 and a 200-day simple moving average of $16.16. The firm has a market capitalization of $883.01 million, a P/E ratio of 15.25, a P/E/G ratio of 0.53 and a beta of 1.49. 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 earnings per share (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 business had revenue of $521.30 million for the quarter, compared to analysts' expectations of $526.93 million. During the same period last year, the firm posted $0.86 earnings per share. The business's revenue for the quarter was down 3.1% on a year-over-year basis. As a group, equities analysts expect that Deluxe Corporation will post 2.77 EPS for the current fiscal year.

Deluxe Announces Dividend

The company also recently declared 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 dividend on an annualized basis and a dividend yield of 6.1%. The ex-dividend date is Monday, August 18th. Deluxe's dividend payout ratio (DPR) is currently 93.02%.

Analysts Set New Price Targets

DLX has been the topic of several research analyst reports. Wall Street Zen lowered shares of Deluxe from a "strong-buy" rating to a "buy" rating in a research report on Saturday, August 9th. Cowen reaffirmed a "buy" rating on shares of Deluxe in a research report on Thursday, August 7th. Finally, TD Securities decreased their price target on shares of Deluxe from $33.00 to $23.00 and set a "buy" rating for the company in a research note on Thursday, May 1st. Two investment 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.com, the company currently 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.