Deluxe Corporation (NYSE:DLX) Position Maintained by Palisade Asset Management LLC
Palisade Asset Management LLC continued to hold its position in Deluxe Corporation (NYSE:DLX) during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 4,130 shares of the business services provider’s stock at the end of the second quarter. Palisade Asset Management LLC’s holdings in Deluxe Corporation were worth $286,000 as of its most recent filing with the SEC.
A number of other institutional investors also recently added to or reduced their stakes in DLX. Glen Harbor Capital Management LLC increased its position in Deluxe Corporation by 9.2% in the first quarter. Glen Harbor Capital Management LLC now owns 2,660 shares of the business services provider’s stock worth $192,000 after buying an additional 224 shares during the period. Sit Investment Associates Inc. increased its position in Deluxe Corporation by 35.4% in the first quarter. Sit Investment Associates Inc. now owns 24,075 shares of the business services provider’s stock worth $1,737,000 after buying an additional 6,300 shares during the period. Meritage Portfolio Management increased its position in Deluxe Corporation by 1.4% in the first quarter. Meritage Portfolio Management now owns 117,029 shares of the business services provider’s stock worth $8,446,000 after buying an additional 1,600 shares during the period. Retirement Systems of Alabama increased its position in Deluxe Corporation by 0.8% in the first quarter. Retirement Systems of Alabama now owns 148,114 shares of the business services provider’s stock worth $10,689,000 after buying an additional 1,204 shares during the period. Finally, Hartford Investment Management Co. increased its position in Deluxe Corporation by 1.9% in the first quarter. Hartford Investment Management Co. now owns 3,906 shares of the business services provider’s stock worth $282,000 after buying an additional 71 shares during the period. Institutional investors and hedge funds own 93.25% of the company’s stock.
Deluxe Corporation (NYSE:DLX) opened at 69.55 on Thursday. Deluxe Corporation has a 1-year low of $59.47 and a 1-year high of $75.94. The firm’s 50-day moving average price is $70.18 and its 200-day moving average price is $71.21. The firm has a market cap of $3.36 billion, a P/E ratio of 14.88 and a beta of 1.35.
Deluxe Corporation (NYSE:DLX) last announced its quarterly earnings data on Thursday, July 27th. The business services provider reported $1.29 earnings per share for the quarter, topping the Zacks’ consensus estimate of $1.24 by $0.05. The business had revenue of $485.20 million for the quarter, compared to analysts’ expectations of $479.42 million. Deluxe Corporation had a net margin of 11.98% and a return on equity of 27.83%. The business’s revenue was up 7.7% compared to the same quarter last year. During the same quarter in the prior year, the company earned $1.20 earnings per share. Equities research analysts anticipate that Deluxe Corporation will post $5.25 earnings per share for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 5th. Shareholders of record on Monday, August 21st will be issued a $0.30 dividend. This represents a $1.20 dividend on an annualized basis and a yield of 1.73%. The ex-dividend date is Thursday, August 17th. Deluxe Corporation’s dividend payout ratio (DPR) is presently 25.64%.
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A number of research firms have issued reports on DLX. Zacks Investment Research upgraded Deluxe Corporation from a “hold” rating to a “buy” rating and set a $81.00 price target for the company in a research note on Tuesday, May 2nd. BidaskClub upgraded Deluxe Corporation from a “sell” rating to a “hold” rating in a research note on Monday, July 31st.
In other Deluxe Corporation news, Director Ronald C. Baldwin sold 2,000 shares of the company’s stock in a transaction dated Monday, July 31st. The shares were sold at an average price of $72.41, for a total value of $144,820.00. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, VP John D. Filby sold 18,936 shares of the company’s stock in a transaction dated Monday, July 31st. The stock was sold at an average price of $72.21, for a total transaction 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 disclosure for this sale can be found here. 2.40% of the stock is currently owned by corporate insiders.
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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