Deluxe (NYSE:DLX) Upgraded by StockNews.com to Strong-Buy Rating

StockNews.com upgraded shares of Deluxe (NYSE:DLX) from a buy rating to a strong-buy rating in a research note published on Wednesday.

Deluxe Stock Performance

Shares of Deluxe stock opened at $23.21 on Wednesday. Deluxe has a 52 week low of $17.60 and a 52 week high of $24.87. The company has a quick ratio of 0.83, a current ratio of 0.92 and a debt-to-equity ratio of 2.38. The firm has a market capitalization of $1.03 billion, a P/E ratio of 18.72, a PEG ratio of 0.68 and a beta of 1.46. The company has a 50 day moving average price of $19.85 and a 200 day moving average price of $21.08.

Deluxe Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, December 2nd. Shareholders of record on Tuesday, November 19th will be given a dividend of $0.30 per share. This represents a $1.20 dividend on an annualized basis and a yield of 5.17%. The ex-dividend date of this dividend is Tuesday, November 19th. Deluxe’s dividend payout ratio is presently 96.77%.

Insider Transactions at Deluxe

In other news, CEO Barry C. Mccarthy acquired 2,820 shares of the company’s stock in a transaction dated Tuesday, September 10th. The shares were acquired at an average price of $19.08 per share, with a total value of $53,805.60. Following the purchase, the chief executive officer now directly owns 178,670 shares of the company’s stock, valued at $3,409,023.60. This trade represents a 1.60 % increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is accessible through this hyperlink. Corporate insiders own 4.23% of the company’s stock.

Institutional Investors Weigh In On Deluxe

A number of institutional investors have recently added to or reduced their stakes in the stock. Round Hill Asset Management grew its stake in Deluxe by 1.0% in the 3rd quarter. Round Hill Asset Management now owns 50,058 shares of the business services provider’s stock valued at $976,000 after acquiring an additional 485 shares during the period. EMC Capital Management boosted its stake in Deluxe by 10.7% during the 1st quarter. EMC Capital Management now owns 5,417 shares of the business services provider’s stock worth $112,000 after purchasing an additional 522 shares during the last quarter. Texas Permanent School Fund Corp boosted its stake in Deluxe by 1.5% during the 1st quarter. Texas Permanent School Fund Corp now owns 38,246 shares of the business services provider’s stock worth $787,000 after purchasing an additional 552 shares during the last quarter. Louisiana State Employees Retirement System boosted its stake in Deluxe by 2.8% during the 2nd quarter. Louisiana State Employees Retirement System now owns 22,200 shares of the business services provider’s stock worth $499,000 after purchasing an additional 600 shares during the last quarter. Finally, Federated Hermes Inc. boosted its stake in Deluxe by 55.9% during the 2nd quarter. Federated Hermes Inc. now owns 2,262 shares of the business services provider’s stock worth $51,000 after purchasing an additional 811 shares during the last quarter. Institutional investors and hedge funds own 93.90% of the company’s stock.

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.