Deluxe Corporation $DLX Shares Bought by Public Sector Pension Investment Board

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 raised its stake in shares of Deluxe Corporation (NYSE:DLX - Free Report) by 27.3% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 140,376 shares of the business services provider's stock after purchasing an additional 30,083 shares during the quarter. Public Sector Pension Investment Board owned about 0.31% of Deluxe worth $2,219,000 at the end of the most recent reporting period.

A number of other hedge funds have also bought and sold shares of DLX. GAMMA Investing LLC increased its stake in shares of Deluxe by 1,067.0% in the first quarter. GAMMA Investing LLC now owns 2,229 shares of the business services provider's stock worth $35,000 after acquiring an additional 2,038 shares during the period. Security National Bank grew its position in Deluxe by 97.8% during the first quarter. Security National Bank now owns 3,567 shares of the business services provider's stock valued at $56,000 after buying an additional 1,764 shares during the period. Mitsubishi UFJ Asset Management Co. Ltd. grew its position in Deluxe by 11.2% during 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 buying an additional 790 shares during the period. New Vernon Capital Holdings II LLC acquired a new stake in Deluxe during the fourth quarter valued at $204,000. Finally, XTX Topco Ltd acquired a new stake in Deluxe during the fourth quarter valued at $208,000. Institutional investors and hedge funds own 93.90% of the company's stock.

Wall Street Analyst Weigh In

Several equities analysts have issued reports on the stock. Cowen reaffirmed a "buy" rating on shares of Deluxe in a report on Thursday, August 7th. TD Securities decreased their price target on shares of Deluxe from $33.00 to $23.00 and set a "buy" rating on the stock in a research note on Thursday, May 1st. Finally, Wall Street Zen downgraded shares of Deluxe from a "strong-buy" rating to a "buy" rating in a research note on Saturday, August 9th. Two analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the stock. According to data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average price target of $23.00.

Deluxe Trading Up 0.9%

Shares of DLX traded up $0.17 during trading on Tuesday, reaching $20.06. 312,933 shares of the company traded hands, compared to its average volume of 434,696. Deluxe Corporation has a twelve month low of $13.61 and a twelve month high of $24.45. The stock has a market cap of $900.38 million, a PE ratio of 15.55, a price-to-earnings-growth ratio of 0.54 and a beta of 1.49. The stock has a 50-day simple moving average of $17.08 and a 200-day simple moving average of $16.12. The company has a quick ratio of 0.85, a current ratio of 0.94 and a debt-to-equity ratio of 2.24.

Deluxe (NYSE:DLX - Get Free Report) last announced its quarterly earnings data on Wednesday, August 6th. The business services provider reported $0.88 earnings per share for the quarter, beating analysts' consensus estimates of $0.71 by $0.17. The firm had revenue of $521.30 million during the quarter, compared to analysts' expectations of $526.93 million. Deluxe had a net margin of 2.75% and a return on equity of 21.12%. The business's quarterly revenue was down 3.1% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.86 earnings per share. On average, analysts anticipate 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 dividend of $0.30 per share. This represents a $1.20 annualized dividend and a dividend yield of 6.0%. The ex-dividend date is Monday, August 18th. Deluxe's payout ratio is currently 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.