Wedge Capital Management L L P NC Grows Stock Position in Deluxe Corporation $DLX

Key Points

• Wedge Capital Management L L P NC increased its stake in Deluxe Corporation by 30.9%, owning approximately 87,503 shares valued at $1.39 million.
• Deluxe reported a quarterly EPS of $0.88, surpassing analyst expectations of $0.71, but noted a 3.1% decline in revenue year-over-year.
• The firm declared a quarterly dividend of $0.30 per share, translating to an annualized dividend yield of 6.2%.

Wedge Capital Management L L P NC boosted its stake in Deluxe Corporation (NYSE:DLX - Free Report) by 30.9% in the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 87,503 shares of the business services provider's stock after acquiring an additional 20,664 shares during the quarter. Wedge Capital Management L L P NC owned about 0.20% of Deluxe worth $1,392,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently bought and sold shares of DLX. Strs Ohio purchased a new position in Deluxe in the 1st quarter worth approximately $30,000. GAMMA Investing LLC raised its holdings in Deluxe by 1,067.0% in the first 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 in the last quarter. Security National Bank boosted its stake in 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. Quarry LP boosted its stake in Deluxe by 105.8% during the 1st quarter. Quarry LP now owns 3,685 shares of the business services provider's stock valued at $58,000 after acquiring an additional 1,894 shares during the last quarter. Finally, Mitsubishi UFJ Asset Management Co. Ltd. increased its position in shares of Deluxe by 11.2% in the 1st quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 7,874 shares of the business services provider's stock worth $124,000 after purchasing an additional 790 shares during the last quarter. Hedge funds and other institutional investors own 93.90% of the company's stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently issued reports on the stock. Wall Street Zen lowered shares of Deluxe from a "strong-buy" rating to a "buy" rating in a research note on Saturday, August 9th. Cowen restated a "buy" rating on shares of Deluxe in a research note on Thursday, August 7th. Two analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company's stock. According to MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average target price of $23.00.

Deluxe Price Performance

Shares of NYSE DLX opened at $19.45 on Tuesday. Deluxe Corporation has a 1-year low of $13.61 and a 1-year high of $24.45. The company has a debt-to-equity ratio of 2.24, a current ratio of 0.94 and a quick ratio of 0.85. The business's fifty day moving average price is $18.39 and its two-hundred day moving average price is $16.42. The firm has a market capitalization of $872.92 million, a PE ratio of 15.08, a P/E/G ratio of 0.53 and a beta of 1.53.

Deluxe (NYSE:DLX - Get Free Report) last issued its quarterly earnings results on Wednesday, August 6th. The business services provider reported $0.88 EPS for the quarter, beating analysts' consensus estimates of $0.71 by $0.17. The company had revenue of $521.30 million for the quarter, compared to analyst estimates of $526.93 million. Deluxe had a return on equity of 21.12% and a net margin of 2.75%.The company's quarterly revenue was down 3.1% compared to the same quarter last year. During the same period last year, the company earned $0.86 earnings per share. On average, research analysts expect that Deluxe Corporation will post 2.77 EPS for the current year.

Deluxe Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, September 2nd. Stockholders of record on Monday, August 18th were issued a dividend of $0.30 per share. This represents a $1.20 dividend on an annualized basis and a dividend yield of 6.2%. The ex-dividend date of this dividend was Monday, August 18th. Deluxe's dividend payout ratio (DPR) is 93.02%.

Deluxe 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.

Want to see what other hedge funds are holding DLX? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Deluxe Corporation (NYSE:DLX - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.