Deluxe (NYSE:DLX) Price Target Raised to $35.00 at TD Cowen

Deluxe (NYSE:DLX - Get Free Report) had its target price hoisted by analysts at TD Cowen from $33.00 to $35.00 in a research note issued to investors on Tuesday, Benzinga reports. The firm presently has a "buy" rating on the business services provider's stock. TD Cowen's target price would suggest a potential upside of 47.99% from the stock's current price.

Separately, Northcoast Research initiated coverage on shares of Deluxe in a research report on Friday, April 19th. They issued a "buy" rating and a $27.00 price objective on the stock.

Deluxe Stock Performance

NYSE:DLX traded up $0.74 during midday trading on Tuesday, reaching $23.65. The stock had a trading volume of 325,582 shares, compared to its average volume of 214,866. The firm has a fifty day simple moving average of $20.15 and a two-hundred day simple moving average of $19.68. Deluxe has a 12-month low of $14.50 and a 12-month high of $23.91. The company has a quick ratio of 0.88, a current ratio of 0.97 and a debt-to-equity ratio of 2.53. The stock has a market cap of $1.04 billion, a P/E ratio of 30.81, a P/E/G ratio of 0.68 and a beta of 1.48.

Insiders Place Their Bets

In related news, CEO Barry C. Mccarthy bought 2,666 shares of the firm's stock in a transaction on Wednesday, March 13th. The shares were bought at an average cost of $19.25 per share, for a total transaction of $51,320.50. Following the transaction, the chief executive officer now owns 173,410 shares of the company's stock, valued at $3,338,142.50. The purchase was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Insiders own 4.23% of the company's stock.

Institutional Trading of Deluxe

Institutional investors and hedge funds have recently made changes to their positions in the stock. Barclays PLC grew its position in shares of Deluxe by 20.5% in the third quarter. Barclays PLC now owns 35,897 shares of the business services provider's stock valued at $679,000 after purchasing an additional 6,102 shares during the period. Vanguard Group Inc. grew its position in shares of Deluxe by 1.0% in the third quarter. Vanguard Group Inc. now owns 5,002,771 shares of the business services provider's stock valued at $94,502,000 after purchasing an additional 51,546 shares during the period. Algert Global LLC purchased a new stake in shares of Deluxe in the third quarter valued at $1,655,000. EMC Capital Management raised its position in shares of Deluxe by 63.2% in the 3rd quarter. EMC Capital Management now owns 4,895 shares of the business services provider's stock worth $92,000 after buying an additional 1,895 shares during the period. Finally, Mitsubishi UFJ Trust & Banking Corp raised its position in shares of Deluxe by 37.1% in the 3rd quarter. Mitsubishi UFJ Trust & Banking Corp now owns 23,935 shares of the business services provider's stock worth $452,000 after buying an additional 6,472 shares during the period. 93.90% of the stock is currently owned by hedge funds and other institutional investors.

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.