Deluxe (NYSE:DLX) Downgraded to “Buy” Rating by StockNews.com

StockNews.com cut shares of Deluxe (NYSE:DLX) from a strong-buy rating to a buy rating in a research note released on Thursday.

Deluxe Price Performance

DLX stock opened at $23.25 on Thursday. The company has a current ratio of 0.92, a quick ratio of 0.83 and a debt-to-equity ratio of 2.38. Deluxe has a 12 month low of $17.60 and a 12 month high of $24.87. The stock has a market cap of $1.03 billion, a PE ratio of 18.75, a P/E/G ratio of 0.65 and a beta of 1.46. The company has a 50-day moving average price of $20.23 and a 200 day moving average price of $21.14.

Deluxe Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, December 2nd. Shareholders of record on Tuesday, November 19th will be paid a $0.30 dividend. The ex-dividend date is Tuesday, November 19th. This represents a $1.20 dividend on an annualized basis and a yield of 5.16%. Deluxe’s payout ratio is 96.77%.

Insider Activity at Deluxe

In other news, CEO Barry C. Mccarthy purchased 2,820 shares of the business’s stock in a transaction dated Tuesday, September 10th. The shares were purchased at an average price of $19.08 per share, for a total transaction of $53,805.60. Following the completion of the purchase, the chief executive officer now owns 178,670 shares in the company, valued at approximately $3,409,023.60. This represents a 1.60 % increase in their position. The purchase was disclosed in a filing with the SEC, which can be accessed through this link. 4.23% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently added to or reduced their stakes in DLX. Geode Capital Management LLC lifted its stake in shares of Deluxe by 1.7% during the 3rd quarter. Geode Capital Management LLC now owns 1,028,079 shares of the business services provider’s stock worth $20,041,000 after purchasing an additional 17,583 shares during the last quarter. Barclays PLC increased its holdings in Deluxe by 73.2% in the 3rd quarter. Barclays PLC now owns 148,447 shares of the business services provider’s stock worth $2,893,000 after buying an additional 62,715 shares during the period. Jane Street Group LLC raised its holdings in shares of Deluxe by 10.0% during the third quarter. Jane Street Group LLC now owns 115,280 shares of the business services provider’s stock worth $2,247,000 after purchasing an additional 10,447 shares during the last quarter. State Street Corp lifted its position in Deluxe by 1.1% during the third quarter. State Street Corp now owns 1,695,132 shares of the business services provider’s stock valued at $33,038,000 after purchasing an additional 18,133 shares during the period. Finally, Quarry LP boosted its stake in shares of Deluxe by 2,770.0% in the third quarter. Quarry LP now owns 6,314 shares of the business services provider’s stock worth $123,000 after buying an additional 6,094 shares during the last quarter. 93.90% of the stock is currently owned by institutional investors.

Deluxe Company Profile

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.