Deluxe (NYSE:DLX) Research Coverage Started at Northcoast Research

Northcoast Research assumed coverage on shares of Deluxe (NYSE:DLX) in a report issued on Friday, Marketbeat Ratings reports. The brokerage issued a buy rating and a $27.00 price target on the business services provider’s stock.

Deluxe Stock Up 4.0 %

NYSE DLX opened at $19.71 on Friday. The stock’s 50 day moving average is $19.67 and its 200 day moving average is $19.32. The company has a current ratio of 0.93, a quick ratio of 0.88 and a debt-to-equity ratio of 2.49. Deluxe has a 12 month low of $13.61 and a 12 month high of $21.97. The stock has a market cap of $864.28 million, a PE ratio of 33.41, a P/E/G ratio of 0.56 and a beta of 1.49.

Deluxe (NYSE:DLX) last posted its quarterly earnings results on Thursday, February 1st. The business services provider reported $0.80 EPS for the quarter, topping analysts’ consensus estimates of $0.75 by $0.05. The company had revenue of $537.40 million for the quarter, compared to analysts’ expectations of $537.80 million. Deluxe had a return on equity of 21.53% and a net margin of 1.20%. The firm’s revenue was down 4.7% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.98 EPS. Research analysts predict that Deluxe will post 2.78 EPS for the current fiscal year.

Deluxe Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, March 4th. Stockholders of record on Tuesday, February 20th were issued a dividend of $0.30 per share. The ex-dividend date was Friday, February 16th. This represents a $1.20 annualized dividend and a dividend yield of 6.09%. Deluxe’s dividend payout ratio (DPR) is 203.39%.

Insider Transactions at Deluxe

In other news, CEO Barry C. Mccarthy acquired 2,666 shares of the firm’s stock in a transaction dated Wednesday, March 13th. The shares were acquired at an average cost of $19.25 per share, with a total value of $51,320.50. Following the acquisition, the chief executive officer now directly owns 173,410 shares of the company’s stock, valued at $3,338,142.50. The transaction was disclosed in a document filed with the SEC, which is available at this link. Insiders own 4.23% of the company’s stock.

Institutional Trading of Deluxe

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. PNC Financial Services Group Inc. raised its holdings in Deluxe by 19.1% during the 1st quarter. PNC Financial Services Group Inc. now owns 3,061 shares of the business services provider’s stock valued at $93,000 after buying an additional 491 shares during the period. Captrust Financial Advisors raised its holdings in Deluxe by 25.6% during the 2nd quarter. Captrust Financial Advisors now owns 2,799 shares of the business services provider’s stock valued at $61,000 after buying an additional 570 shares during the period. Quarry LP raised its holdings in Deluxe by 50.9% during the 1st quarter. Quarry LP now owns 2,135 shares of the business services provider’s stock valued at $34,000 after buying an additional 720 shares during the period. Teachers Retirement System of The State of Kentucky raised its holdings in Deluxe by 5.9% during the 2nd quarter. Teachers Retirement System of The State of Kentucky now owns 13,465 shares of the business services provider’s stock valued at $236,000 after buying an additional 756 shares during the period. Finally, Legal & General Group Plc raised its holdings in Deluxe by 0.6% during the 2nd quarter. Legal & General Group Plc now owns 128,861 shares of the business services provider’s stock valued at $2,792,000 after buying an additional 770 shares during the period. Hedge funds and other institutional investors own 93.90% of the company’s stock.

About Deluxe

Deluxe Corporation provides technology-enabled solutions to enterprises, small businesses, and financial institutions in the United States, Canada, and Australia. It operates through Merchant Services, B2B Payments, Data Solutions, and Print segments. The Merchant Services offers credit and debit card authorization and payment systems, as well as processing services primarily to small and medium-sized retail and service businesses.