LSV Asset Management Buys 48,067 Shares of Deluxe Co. (NYSE:DLX)

LSV Asset Management raised its stake in shares of Deluxe Co. (NYSE:DLX) by 2.4% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 2,090,671 shares of the business services provider’s stock after purchasing an additional 48,067 shares during the period. LSV Asset Management owned 4.77% of Deluxe worth $43,047,000 as of its most recent SEC filing.

A number of other institutional investors also recently modified their holdings of DLX. Allspring Global Investments Holdings LLC bought a new position in Deluxe in the 1st quarter worth $46,000. Armstrong Advisory Group Inc. grew its holdings in Deluxe by 159.3% in the 4th quarter. Armstrong Advisory Group Inc. now owns 3,106 shares of the business services provider’s stock valued at $67,000 after buying an additional 1,908 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank increased its position in Deluxe by 32.9% in the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 8,026 shares of the business services provider’s stock worth $172,000 after buying an additional 1,985 shares during the period. DekaBank Deutsche Girozentrale acquired a new position in shares of Deluxe during the fourth quarter worth approximately $215,000. Finally, Quadrature Capital Ltd bought a new stake in shares of Deluxe in the fourth quarter valued at approximately $220,000. Institutional investors own 93.90% of the company’s stock.

Deluxe Stock Performance

DLX traded up $0.14 during trading on Friday, reaching $22.28. 289,921 shares of the company’s stock were exchanged, compared to its average volume of 224,632. Deluxe Co. has a fifty-two week low of $16.00 and a fifty-two week high of $24.00. The company has a market capitalization of $981.43 million, a P/E ratio of 28.74, a PEG ratio of 0.61 and a beta of 1.47. The company has a quick ratio of 0.88, a current ratio of 0.97 and a debt-to-equity ratio of 2.53. The business has a 50 day moving average price of $22.22 and a 200 day moving average price of $20.76.

Deluxe (NYSE:DLX) last issued its earnings results on Wednesday, May 1st. The business services provider reported $0.67 earnings per share for the quarter, beating the consensus estimate of $0.60 by $0.07. Deluxe had a net margin of 1.57% and a return on equity of 21.33%. The business had revenue of $535.00 million for the quarter, compared to analyst estimates of $527.45 million. As a group, analysts predict that Deluxe Co. will post 2.92 earnings per share for the current fiscal year.

Deluxe Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, June 3rd. Stockholders of record on Monday, May 20th were paid a $0.30 dividend. The ex-dividend date was Friday, May 17th. This represents a $1.20 annualized dividend and a dividend yield of 5.39%. Deluxe’s dividend payout ratio is presently 155.85%.

Wall Street Analysts Forecast Growth

Several equities analysts recently commented on DLX shares. StockNews.com upgraded shares of Deluxe from a “buy” rating to a “strong-buy” rating in a research note on Thursday. TD Cowen increased their target price on shares of Deluxe from $33.00 to $35.00 and gave the company a “buy” rating in a research note on Tuesday, May 14th. Finally, Northcoast Research assumed coverage on Deluxe in a research note on Friday, April 19th. They set a “buy” rating and a $27.00 price target on the stock.

Insider Buying and Selling

In other news, CEO Barry C. Mccarthy purchased 2,440 shares of Deluxe stock in a transaction on Monday, June 10th. The shares were purchased at an average cost of $21.63 per share, for a total transaction of $52,777.20. Following the completion of the transaction, the chief executive officer now directly owns 175,850 shares in the company, valued at $3,803,635.50. The purchase was disclosed in a document filed with the SEC, which is available through this hyperlink. Insiders bought 2,675 shares of company stock worth $58,063 in the last quarter. 4.23% of the stock is owned by corporate insiders.

Deluxe 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.