Deluxe Corp. (DLX) Upgraded to Buy at Zacks Investment Research
Zacks Investment Research upgraded shares of Deluxe Corp. (NYSE:DLX) from a hold rating to a buy rating in a research note released on Thursday morning. The brokerage currently has $76.00 price objective on the stock.
According to Zacks, “Deluxe Corporation, through its industry-leading businesses and brands, helps financial institutions and small businesses better manage, promote, and grow their businesses. The Company uses direct marketing, distributors, and a North American sales force to provide a wide range of customized products and services: personalized printed items checks, forms, business cards, stationery, greeting cards, labels, and retail/packaging supplies, promotional products and merchandising materials, fraud prevention services, and customer retention programs. The Company also sells personalized checks and accessories directly to consumers. “
Shares of Deluxe Corp. (NYSE:DLX) opened at 69.92 on Thursday. The company’s 50 day moving average price is $68.06 and its 200 day moving average price is $64.97. The firm has a market capitalization of $3.41 billion, a price-to-earnings ratio of 14.89 and a beta of 1.47. Deluxe Corp. has a 52-week low of $49.46 and a 52-week high of $70.26.
Deluxe Corp. (NYSE:DLX) last posted its quarterly earnings results on Thursday, July 28th. The company reported $1.20 earnings per share for the quarter, topping the Zacks’ consensus estimate of $1.18 by $0.02. Deluxe Corp. had a return on equity of 31.19% and a net margin of 12.86%. The company earned $450.60 million during the quarter, compared to the consensus estimate of $450.56 million. During the same period last year, the business earned $1.13 EPS. The business’s quarterly revenue was up 3.4% on a year-over-year basis. Analysts forecast that Deluxe Corp. will post $4.93 earnings per share for the current year.
The business also recently disclosed a quarterly dividend, which was paid on Tuesday, September 6th. Investors of record on Monday, August 22nd were paid a $0.30 dividend. This represents a $1.20 dividend on an annualized basis and a dividend yield of 1.72%. The ex-dividend date was Thursday, August 18th. Deluxe Corp.’s payout ratio is 25.59%.
In related news, Director Neil Metviner sold 8,000 shares of the firm’s stock in a transaction that occurred on Tuesday, September 6th. The stock was sold at an average price of $69.23, for a total value of $553,840.00. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. 2.90% of the stock is owned by corporate insiders.
Several hedge funds and other institutional investors have recently modified their holdings of the stock. Geode Capital Management LLC increased its position in shares of Deluxe Corp. by 2.8% in the first quarter. Geode Capital Management LLC now owns 469,346 shares of the company’s stock worth $29,329,000 after buying an additional 12,951 shares during the last quarter. BlackRock Group LTD increased its position in shares of Deluxe Corp. by 22.5% in the first quarter. BlackRock Group LTD now owns 35,073 shares of the company’s stock worth $2,192,000 after buying an additional 6,437 shares during the last quarter. BNP Paribas Arbitrage SA increased its position in shares of Deluxe Corp. by 66,383.8% in the second quarter. BNP Paribas Arbitrage SA now owns 24,599 shares of the company’s stock worth $1,633,000 after buying an additional 24,562 shares during the last quarter. Glenmede Trust Co. NA increased its position in shares of Deluxe Corp. by 203.5% in the first quarter. Glenmede Trust Co. NA now owns 56,121 shares of the company’s stock worth $3,505,000 after buying an additional 37,629 shares during the last quarter. Finally, State Treasurer State of Michigan increased its position in shares of Deluxe Corp. by 0.5% in the second quarter. State Treasurer State of Michigan now owns 19,662 shares of the company’s stock worth $1,305,000 after buying an additional 100 shares during the last quarter. 90.57% of the stock is currently owned by institutional investors and hedge funds.
About Deluxe Corp.
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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