StockNews.com Upgrades Deluxe (NYSE:DLX) to “Strong-Buy”

StockNews.com upgraded shares of Deluxe (NYSE:DLX) from a buy rating to a strong-buy rating in a report published on Wednesday.

Deluxe Stock Down 0.6 %

Shares of NYSE:DLX opened at $23.21 on Wednesday. The company has a 50 day moving average price of $19.85 and a two-hundred day moving average price of $21.09. The company has a debt-to-equity ratio of 2.38, a quick ratio of 0.83 and a current ratio of 0.92. The company has a market capitalization of $1.03 billion, a PE ratio of 18.72, a PEG ratio of 0.68 and a beta of 1.46. Deluxe has a 52 week low of $17.60 and a 52 week high of $24.87.

Deluxe Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, December 2nd. Investors of record on Tuesday, November 19th will be given a $0.30 dividend. The ex-dividend date of this dividend is Tuesday, November 19th. This represents a $1.20 annualized dividend and a yield of 5.17%. Deluxe’s dividend payout ratio is currently 96.77%.

Insider Buying and Selling at Deluxe

In other Deluxe news, CEO Barry C. Mccarthy acquired 2,820 shares of the business’s stock in a transaction dated Tuesday, September 10th. The shares were acquired at an average price of $19.08 per share, with a total value of $53,805.60. Following the completion of the transaction, the chief executive officer now directly owns 178,670 shares in the company, valued at $3,409,023.60. This trade represents a 1.60 % increase in their position. The purchase was disclosed in a filing with the SEC, which can be accessed through the SEC website. Company insiders own 4.23% of the company’s stock.

Institutional Investors Weigh In On Deluxe

Several hedge funds and other institutional investors have recently added to or reduced their stakes in DLX. Geode Capital Management LLC grew its holdings in shares of Deluxe by 1.7% in the 3rd quarter. Geode Capital Management LLC now owns 1,028,079 shares of the business services provider’s stock valued at $20,041,000 after acquiring an additional 17,583 shares in the last quarter. Barclays PLC boosted its position in Deluxe by 73.2% during the third quarter. Barclays PLC now owns 148,447 shares of the business services provider’s stock valued at $2,893,000 after purchasing an additional 62,715 shares during the last quarter. Jane Street Group LLC grew its stake in Deluxe by 10.0% in the third quarter. Jane Street Group LLC now owns 115,280 shares of the business services provider’s stock valued at $2,247,000 after purchasing an additional 10,447 shares in the last quarter. State Street Corp increased its position in shares of Deluxe by 1.1% during the 3rd quarter. State Street Corp now owns 1,695,132 shares of the business services provider’s stock worth $33,038,000 after purchasing an additional 18,133 shares during the last quarter. Finally, Quarry LP increased its position in shares of Deluxe by 2,770.0% during the 3rd quarter. Quarry LP now owns 6,314 shares of the business services provider’s stock worth $123,000 after purchasing an additional 6,094 shares during the last quarter. 93.90% of the stock is currently owned by institutional investors and hedge funds.

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.