TD Securities Has Lowered Expectations for Deluxe (NYSE:DLX) Stock Price

Deluxe (NYSE:DLX) had its price target cut by equities research analysts at TD Securities from $33.00 to $23.00 in a research note issued on Thursday,Benzinga reports. The brokerage currently has a “buy” rating on the business services provider’s stock. TD Securities’ price objective points to a potential upside of 52.52% from the company’s current price.

DLX has been the subject of a number of other research reports. Sidoti raised shares of Deluxe to a “hold” rating in a research note on Thursday, January 30th. StockNews.com cut shares of Deluxe from a “strong-buy” rating to a “buy” rating in a research report on Wednesday, March 26th.

Deluxe Stock Performance

Shares of DLX opened at $15.08 on Thursday. The firm has a market cap of $674.33 million, a PE ratio of 12.78, a P/E/G ratio of 0.52 and a beta of 1.41. The company has a current ratio of 0.98, a quick ratio of 0.83 and a debt-to-equity ratio of 2.36. The stock has a fifty day moving average price of $15.43 and a 200-day moving average price of $19.46. Deluxe has a 12 month low of $13.70 and a 12 month high of $24.87.

Deluxe (NYSE:DLX) last announced its quarterly earnings data on Wednesday, April 30th. The business services provider reported $0.75 EPS for the quarter, beating the consensus estimate of $0.72 by $0.03. The business had revenue of $536.50 million during the quarter, compared to analysts’ expectations of $525.43 million. Deluxe had a net margin of 2.49% and a return on equity of 21.33%. The business’s quarterly revenue was up .3% compared to the same quarter last year. During the same period in the previous year, the business posted $0.76 EPS. Equities research analysts predict that Deluxe will post 2.77 earnings per share for the current fiscal year.

Insider Buying and Selling at Deluxe

In related news, CEO Barry C. Mccarthy acquired 3,926 shares of Deluxe stock in a transaction that occurred on Monday, March 10th. The shares were purchased at an average cost of $16.45 per share, for a total transaction of $64,582.70. Following the acquisition, the chief executive officer now owns 272,851 shares in the company, valued at approximately $4,488,398.95. This represents a 1.46 % increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Company insiders own 5.60% of the company’s stock.

Institutional Investors Weigh In On Deluxe

A number of institutional investors have recently made changes to their positions in DLX. Smartleaf Asset Management LLC lifted its holdings in shares of Deluxe by 93.7% in the 4th quarter. Smartleaf Asset Management LLC now owns 1,104 shares of the business services provider’s stock worth $25,000 after acquiring an additional 534 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its position in Deluxe by 3.4% in the fourth quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 25,188 shares of the business services provider’s stock valued at $569,000 after purchasing an additional 835 shares during the period. Hudson Edge Investment Partners Inc. lifted its stake in Deluxe by 4.9% during the fourth quarter. Hudson Edge Investment Partners Inc. now owns 18,384 shares of the business services provider’s stock worth $415,000 after purchasing an additional 860 shares in the last quarter. Swiss National Bank boosted its position in shares of Deluxe by 1.2% during the fourth quarter. Swiss National Bank now owns 87,000 shares of the business services provider’s stock worth $1,965,000 after buying an additional 1,000 shares during the period. Finally, KBC Group NV grew its stake in shares of Deluxe by 63.5% in the fourth quarter. KBC Group NV now owns 3,237 shares of the business services provider’s stock valued at $73,000 after buying an additional 1,257 shares in the last quarter. 93.90% of the stock is currently owned by institutional investors and hedge funds.

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.