Deluxe Corp. (DLX) Reaches New 52-Week High at $69.93
Deluxe Corp. (NYSE:DLX) shares hit a new 52-week high during mid-day trading on Wednesday . The company traded as high as $69.93 and last traded at $69.81, with a volume of 64,543 shares. The stock had previously closed at $69.29.
Separately, Zacks Investment Research upgraded shares of Deluxe Corp. from a “hold” rating to a “buy” rating and set a $71.00 price target for the company in a research note on Monday, May 2nd.
The company has a market capitalization of $3.42 billion and a price-to-earnings ratio of 15.11. The firm has a 50 day moving average of $66.27 and a 200 day moving average of $60.40.
Deluxe Corp. (NYSE:DLX) last released its earnings results on Thursday, April 28th. The company reported $1.19 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.15 by $0.04. The firm had revenue of $459.30 million for the quarter, compared to analyst estimates of $450.99 million. During the same period in the previous year, the firm earned $1.04 earnings per share. Deluxe Corp.’s revenue was up 5.9% on a year-over-year basis. Analysts expect that Deluxe Corp. will post $4.91 earnings per share for the current fiscal year.
In related news, SVP Malcolm Mcroberts sold 9,580 shares of Deluxe Corp. stock in a transaction dated Friday, June 3rd. The stock was sold at an average price of $66.06, for a total transaction of $632,854.80. Following the transaction, the senior vice president now directly owns 59,805 shares of the company’s stock, valued at $3,950,718.30. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, SVP Peter J. Godich sold 2,000 shares of Deluxe Corp. stock in a transaction dated Thursday, June 2nd. The stock was sold at an average price of $65.97, for a total value of $131,940.00. Following the transaction, the senior vice president now directly owns 14,443 shares in the company, valued at $952,804.71. The disclosure for this sale can be found here.
Other hedge funds and institutional investors have recently added to or reduced their stakes in the company. Wellington Shields Capital Management LLC raised its position in Deluxe Corp. by 159.8% in the fourth quarter. Wellington Shields Capital Management LLC now owns 22,762 shares of the company’s stock worth $1,241,000 after buying an additional 14,002 shares during the last quarter. Liberty Mutual Group Asset Management Inc. boosted its position in shares of Deluxe Corp. by 51.4% in the fourth quarter. Liberty Mutual Group Asset Management Inc. now owns 32,184 shares of the company’s stock worth $1,755,000 after buying an additional 10,926 shares in the last quarter. Alpha Omega Wealth Management LLC bought a new position in shares of Deluxe Corp. during the fourth quarter worth $2,015,000. Boston Partners bought a new position in shares of Deluxe Corp. during the fourth quarter worth $3,386,000. Finally, Alpine Woods Capital Investors LLC boosted its position in shares of Deluxe Corp. by 1.6% in the fourth quarter. Alpine Woods Capital Investors LLC now owns 80,600 shares of the company’s stock worth $4,396,000 after buying an additional 1,300 shares in the last quarter.
Deluxe Corporation provides payment solutions. The Company operates in three segments: Small Business Services segment, Financial Services segment and Direct Checks segment. Its Small Business Services segment offers services for marketing needs of small businesses, including Web design, hosting and other Web services; search engine optimization; marketing services, including e-mail, mobile, social media and other self-service marketing solutions; digital printing services, and logo design.
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