Jupiter Asset Management Ltd. Raises Stake in Deluxe Corporation (NYSE:DLX)

Key Points

• Jupiter Asset Management Ltd. increased its stake in Deluxe Corporation by 24.4%, acquiring an additional 17,851 shares during the first quarter, bringing its total holdings to 91,025 shares valued at approximately $1.44 million.
• Several other institutional investors also boosted their stakes in Deluxe, with Vanguard Group Inc. and Dimensional Fund Advisors LP increasing their holdings by 1.2% and 8.1%, respectively.
• Deluxe stock recently traded at $16.26, reflecting a 2.1% increase, while having a market cap of $727.47 million and a price-to-earnings ratio of 13.01.

Jupiter Asset Management Ltd. increased its holdings in shares of Deluxe Corporation (NYSE:DLX - Free Report) by 24.4% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 91,025 shares of the business services provider's stock after purchasing an additional 17,851 shares during the period. Jupiter Asset Management Ltd. owned 0.20% of Deluxe worth $1,439,000 as of its most recent SEC filing.

Other institutional investors also recently bought and sold shares of the company. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its stake in shares of Deluxe by 3.4% in the fourth quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 25,188 shares of the business services provider's stock valued at $569,000 after buying an additional 835 shares in the last quarter. Ipsen Advisor Group LLC lifted its holdings in Deluxe by 6.0% in the first quarter. Ipsen Advisor Group LLC now owns 25,024 shares of the business services provider's stock valued at $396,000 after acquiring an additional 1,420 shares during the period. Guggenheim Capital LLC lifted its holdings in Deluxe by 7.7% in the fourth quarter. Guggenheim Capital LLC now owns 20,279 shares of the business services provider's stock valued at $458,000 after acquiring an additional 1,452 shares during the period. Focus Partners Wealth boosted its position in shares of Deluxe by 12.0% during the 4th quarter. Focus Partners Wealth now owns 13,631 shares of the business services provider's stock worth $308,000 after purchasing an additional 1,465 shares in the last quarter. Finally, MetLife Investment Management LLC grew its stake in shares of Deluxe by 6.0% during the 4th quarter. MetLife Investment Management LLC now owns 26,624 shares of the business services provider's stock worth $601,000 after purchasing an additional 1,505 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 traded down $0.01 during midday trading on Friday, hitting $19.20. 323,234 shares of the stock were exchanged, compared to its average volume of 381,179. Deluxe Corporation has a twelve month low of $13.61 and a twelve month high of $24.45. The company has a current ratio of 0.93, a quick ratio of 0.84 and a debt-to-equity ratio of 2.34. The company has a 50 day moving average price of $15.92 and a 200-day moving average price of $16.42. The stock has a market cap of $858.92 million, a P/E ratio of 14.88, a PEG ratio of 0.46 and a beta of 1.49.

Deluxe (NYSE:DLX - Get Free Report) last posted 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. Deluxe had a net margin of 2.75% and a return on equity of 21.30%. The firm had revenue of $521.30 million during the quarter, compared to the consensus estimate of $526.93 million. During the same period last year, the firm posted $0.86 EPS. The firm's revenue for the quarter was down 3.1% on a year-over-year basis. On average, research analysts forecast that Deluxe Corporation will post 2.77 earnings per share for the current year.

Deluxe Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 2nd. Stockholders of record on Monday, August 18th will be given a $0.30 dividend. This represents a $1.20 annualized dividend and a dividend yield of 6.3%. The ex-dividend date is Monday, August 18th. Deluxe's dividend payout ratio is currently 93.02%.

Wall Street Analyst Weigh In

Several brokerages recently commented on DLX. Wall Street Zen upgraded shares of Deluxe from a "buy" rating to a "strong-buy" rating in a research note on Friday, May 30th. Cowen reiterated a "buy" rating on shares of Deluxe in a research report on Thursday. Finally, TD Securities decreased their price target on Deluxe from $33.00 to $23.00 and set a "buy" rating on the stock in a research note 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.