Deluxe (NYSE:DLX) Upgraded to Buy at StockNews.com

StockNews.com upgraded shares of Deluxe (NYSE:DLXGet Rating) from a hold rating to a buy rating in a research report report published on Thursday morning.

Other research analysts have also recently issued research reports about the company. Cowen cut their price target on Deluxe from $50.00 to $42.00 in a research note on Wednesday, April 27th. Cowen cut their price objective on Deluxe from $50.00 to $42.00 in a research note on Wednesday, April 27th.

Shares of NYSE DLX opened at $23.68 on Thursday. Deluxe has a 1-year low of $23.00 and a 1-year high of $48.33. The business has a 50-day moving average of $28.79 and a 200-day moving average of $31.32. The company has a debt-to-equity ratio of 2.82, a current ratio of 0.92 and a quick ratio of 0.86. The company has a market capitalization of $1.02 billion, a price-to-earnings ratio of 21.53 and a beta of 1.45.

Deluxe (NYSE:DLXGet Rating) last released its quarterly earnings results on Thursday, May 5th. The business services provider reported $1.05 EPS for the quarter. Deluxe had a return on equity of 32.33% and a net margin of 2.25%. The business had revenue of $556.00 million for the quarter, compared to analysts’ expectations of $532.13 million. During the same quarter in the previous year, the firm posted $1.26 earnings per share. The company’s revenue was up 26.0% compared to the same quarter last year.

The company also recently disclosed a quarterly dividend, which will be paid on Monday, June 6th. Shareholders of record on Monday, May 23rd will be paid a dividend of $0.30 per share. This represents a $1.20 annualized dividend and a yield of 5.07%. The ex-dividend date of this dividend is Friday, May 20th. Deluxe’s payout ratio is currently 109.09%.

Several institutional investors have recently made changes to their positions in DLX. First Trust Advisors LP raised its position in shares of Deluxe by 17.3% during the 1st quarter. First Trust Advisors LP now owns 44,677 shares of the business services provider’s stock worth $1,953,000 after purchasing an additional 6,604 shares during the period. Amundi Pioneer Asset Management Inc. raised its position in shares of Deluxe by 55.0% during the 1st quarter. Amundi Pioneer Asset Management Inc. now owns 55,744 shares of the business services provider’s stock worth $2,438,000 after purchasing an additional 19,769 shares during the period. Morgan Stanley raised its position in shares of Deluxe by 12.9% during the 2nd quarter. Morgan Stanley now owns 428,600 shares of the business services provider’s stock worth $20,475,000 after purchasing an additional 49,080 shares during the period. Swiss National Bank raised its position in shares of Deluxe by 0.6% during the 3rd quarter. Swiss National Bank now owns 93,200 shares of the business services provider’s stock worth $3,345,000 after purchasing an additional 600 shares during the period. Finally, Barclays PLC raised its position in shares of Deluxe by 56.3% during the 3rd quarter. Barclays PLC now owns 51,092 shares of the business services provider’s stock worth $1,834,000 after purchasing an additional 18,400 shares during the period. Institutional investors and hedge funds own 90.86% of the company’s stock.

About Deluxe (Get Rating)

Deluxe Corporation provides technology-enabled solutions to enterprises, small businesses, and financial institutions in the United States, Canada, Australia, South America, and Europe. It operates through four segments: Payments, Cloud Solutions, Promotional Solutions, and Checks. The company provides treasury management solutions, including remittance and lockbox processing, remote deposit capture, receivables management, payment processing, and paperless treasury management solutions, as well as payment exchange, and fraud and security services; web hosting and design services, data-driven marketing solutions and hosted solutions, such as digital engagement, logo design, financial institution profitability reporting, and business incorporation services.

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