Deluxe Corporation (NYSE:DLX) Cut to “Sell” at BidaskClub
BidaskClub downgraded shares of Deluxe Corporation (NYSE:DLX) from a hold rating to a sell rating in a research report report published on Sunday.
Separately, Zacks Investment Research upgraded shares of Deluxe Corporation from a hold rating to a buy rating and set a $81.00 price objective for the company in a research report on Tuesday, May 2nd.
Shares of Deluxe Corporation (DLX) opened at 69.33 on Friday. The stock has a 50 day moving average price of $70.30 and a 200 day moving average price of $71.28. The firm has a market cap of $3.35 billion, a PE ratio of 14.83 and a beta of 1.35. Deluxe Corporation has a 12 month low of $59.47 and a 12 month high of $75.94.
Deluxe Corporation (NYSE:DLX) last released its quarterly earnings data on Thursday, July 27th. The business services provider reported $1.29 EPS for the quarter, beating the Zacks’ consensus estimate of $1.24 by $0.05. Deluxe Corporation had a net margin of 11.98% and a return on equity of 27.83%. The business had revenue of $485.20 million during the quarter, compared to analysts’ expectations of $479.42 million. During the same quarter in the prior year, the company earned $1.20 EPS. The firm’s quarterly revenue was up 7.7% on a year-over-year basis. On average, equities research analysts expect that Deluxe Corporation will post $5.25 EPS for the current year.
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The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 5th. Investors of record on Monday, August 21st will be given a $0.30 dividend. This represents a $1.20 dividend on an annualized basis and a dividend yield of 1.73%. The ex-dividend date of this dividend is Thursday, August 17th. Deluxe Corporation’s dividend payout ratio is currently 25.64%.
In related news, VP John D. Filby sold 18,936 shares of the company’s stock in a transaction on Monday, July 31st. The shares were sold at an average price of $72.21, for a total value of $1,367,368.56. Following the completion of the sale, the vice president now owns 46,154 shares in the company, valued at approximately $3,332,780.34. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, Director Ronald C. Baldwin sold 2,000 shares of the company’s stock in a transaction on Monday, July 31st. The shares were sold at an average price of $72.41, for a total transaction of $144,820.00. The disclosure for this sale can be found here. 2.40% of the stock is owned by corporate insiders.
A number of institutional investors have recently made changes to their positions in the company. BlackRock Inc. raised its position in shares of Deluxe Corporation by 23,073.3% in the first quarter. BlackRock Inc. now owns 5,191,045 shares of the business services provider’s stock worth $374,639,000 after buying an additional 5,168,644 shares during the last quarter. NN Investment Partners Holdings N.V. raised its position in shares of Deluxe Corporation by 358.6% in the first quarter. NN Investment Partners Holdings N.V. now owns 355,458 shares of the business services provider’s stock worth $25,654,000 after buying an additional 277,947 shares during the last quarter. Neuberger Berman Group LLC raised its position in shares of Deluxe Corporation by 9,541.9% in the first quarter. Neuberger Berman Group LLC now owns 273,829 shares of the business services provider’s stock worth $19,762,000 after buying an additional 270,989 shares during the last quarter. Lazard Asset Management LLC raised its position in shares of Deluxe Corporation by 205.3% in the first quarter. Lazard Asset Management LLC now owns 384,591 shares of the business services provider’s stock worth $27,755,000 after buying an additional 258,619 shares during the last quarter. Finally, Vanguard Group Inc. raised its position in shares of Deluxe Corporation by 3.9% in the first quarter. Vanguard Group Inc. now owns 4,133,898 shares of the business services provider’s stock worth $298,344,000 after buying an additional 155,227 shares during the last quarter. 93.25% of the stock is owned by hedge funds and other institutional investors.
About Deluxe Corporation
Deluxe Corporation is a provider of payment solutions. The Company provides a suite of customer life cycle management solutions to its customers across multiple channels. The Company operates in three segments: Small Business Services segment, Financial Services segment and Direct Checks segment. The Company’s product and service offerings consist of checks, forms and accessories, and other products.
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