Public Sector Pension Investment Board Increases Stock Position in Deluxe Corporation $DLX

Key Points

• The Public Sector Pension Investment Board increased its stake in Deluxe Corporation by 27.3% during the first quarter, owning a total of 140,376 shares valued at approximately $2.2 million.
• Deluxe Corporation reported $0.88 earnings per share (EPS) for the latest quarter, exceeding estimates by $0.17, despite a year-over-year revenue decline of 3.1%.
• The company declared a quarterly dividend of $0.30 per share, reflecting an annual yield of 6.3%, with a payout ratio of 93.02%.

Public Sector Pension Investment Board grew its stake in shares of Deluxe Corporation (NYSE:DLX - Free Report) by 27.3% during the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 140,376 shares of the business services provider's stock after acquiring an additional 30,083 shares during the quarter. Public Sector Pension Investment Board owned about 0.31% of Deluxe worth $2,219,000 as of its most recent SEC filing.

Other institutional investors have also recently made changes to their positions in the company. GAMMA Investing LLC boosted its holdings in shares of Deluxe by 1,067.0% during the 1st 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 last quarter. Security National Bank boosted its holdings in shares of Deluxe by 97.8% during the 1st 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 last quarter. Mitsubishi UFJ Asset Management Co. Ltd. boosted its holdings in shares of Deluxe by 11.2% during the 1st 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 last quarter. Burney Co. purchased a new stake in shares of Deluxe during the 1st quarter valued at about $164,000. Finally, New Vernon Capital Holdings II LLC purchased a new stake in shares of Deluxe during the 4th quarter valued at about $204,000. Hedge funds and other institutional investors own 93.90% of the company's stock.

Deluxe Stock Performance

NYSE:DLX opened at $19.10 on Thursday. The stock has a 50-day simple moving average of $16.70 and a two-hundred day simple moving average of $16.20. Deluxe Corporation has a 52-week low of $13.61 and a 52-week high of $24.45. The company has a debt-to-equity ratio of 2.24, a quick ratio of 0.85 and a current ratio of 0.94. The firm has a market capitalization of $857.30 million, a PE ratio of 14.81, a P/E/G ratio of 0.52 and a beta of 1.49.

Deluxe (NYSE:DLX - Get Free Report) last released its quarterly earnings results on Wednesday, August 6th. The business services provider reported $0.88 earnings per share (EPS) for the quarter, beating 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 during the quarter, compared to analyst estimates of $526.93 million. During the same quarter in the previous year, the company posted $0.86 earnings per share. Deluxe's revenue for the quarter was down 3.1% on a year-over-year basis. Analysts forecast that Deluxe Corporation will post 2.77 EPS for the current year.

Deluxe Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, September 2nd. Investors of record on Monday, August 18th will be paid a dividend of $0.30 per share. The ex-dividend date is Monday, August 18th. This represents a $1.20 dividend on an annualized basis and a dividend yield of 6.3%. Deluxe's payout ratio is 93.02%.

Analyst Ratings Changes

DLX has been the topic of a number of recent analyst reports. TD Securities dropped their price target on shares of Deluxe from $33.00 to $23.00 and set a "buy" rating on the stock in a report on Thursday, May 1st. Cowen reissued a "buy" rating on shares of Deluxe in a report on Thursday, August 7th. Finally, Wall Street Zen downgraded shares of Deluxe from a "strong-buy" rating to a "buy" rating in a report on Saturday, August 9th. Two investment analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company's stock. According to data from MarketBeat.com, the company currently has a consensus 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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