Foster & Motley Inc. Takes Position in Deluxe Co. (DLX)

Foster & Motley Inc. acquired a new position in shares of Deluxe Co. (NYSE:DLX) during the second quarter, according to its most recent 13F filing with the SEC. The institutional investor acquired 10,538 shares of the business services provider’s stock, valued at approximately $729,000.

Other hedge funds have also bought and sold shares of the company. Flinton Capital Management LLC boosted its position in shares of Deluxe by 9.2% in the first quarter. Flinton Capital Management LLC now owns 1,520 shares of the business services provider’s stock valued at $110,000 after buying an additional 128 shares during the last quarter. TrimTabs Asset Management LLC boosted its position in shares of Deluxe by 89.0% in the first quarter. TrimTabs Asset Management LLC now owns 1,580 shares of the business services provider’s stock valued at $114,000 after buying an additional 744 shares during the last quarter. Meadow Creek Investment Management LLC boosted its position in shares of Deluxe by 9.2% in the first quarter. Meadow Creek Investment Management LLC now owns 2,090 shares of the business services provider’s stock valued at $151,000 after buying an additional 176 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank boosted its position in shares of Deluxe by 64.3% in the first quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 2,136 shares of the business services provider’s stock valued at $154,000 after buying an additional 836 shares during the last quarter. Finally, Glen Harbor Capital Management LLC boosted its position in shares of Deluxe by 9.2% in the first quarter. Glen Harbor Capital Management LLC now owns 2,660 shares of the business services provider’s stock valued at $192,000 after buying an additional 224 shares during the last quarter. 93.25% of the stock is owned by hedge funds and other institutional investors.

Deluxe Co. (DLX) traded down 1.19% during trading on Friday, reaching $67.50. 477,182 shares of the company were exchanged. The company has a market capitalization of $3.26 billion, a P/E ratio of 14.44 and a beta of 1.35. The firm’s 50-day moving average is $70.11 and its 200 day moving average is $71.15. Deluxe Co. has a one year low of $59.47 and a one year high of $75.94.

Deluxe (NYSE:DLX) last announced its earnings results on Thursday, July 27th. The business services provider reported $1.29 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.24 by $0.05. Deluxe had a net margin of 12.28% and a return on equity of 25.50%. The business had revenue of $485.20 million during the quarter, compared to analyst estimates of $479.42 million. During the same period in the previous year, the business posted $1.20 earnings per share. Deluxe’s revenue for the quarter was up 7.7% on a year-over-year basis. On average, analysts anticipate that Deluxe Co. will post $5.25 EPS for the current fiscal year.

The business also recently announced a quarterly dividend, which will be paid on Tuesday, September 5th. Shareholders of record on Monday, August 21st will be given a dividend of $0.30 per share. The ex-dividend date is Thursday, August 17th. This represents a $1.20 annualized dividend and a yield of 1.78%. Deluxe’s payout ratio is presently 25.64%.

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Several brokerages have recently commented on DLX. BidaskClub cut shares of Deluxe from a “hold” rating to a “sell” rating in a research report on Sunday, August 6th. Zacks Investment Research upgraded shares of Deluxe from a “hold” rating to a “buy” rating and set a $81.00 target price for the company in a research report on Tuesday, May 2nd.

In other Deluxe news, Director Ronald C. Baldwin sold 2,000 shares of Deluxe stock in a transaction that occurred on Monday, July 31st. The shares were sold at an average price of $72.41, for a total transaction of $144,820.00. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, VP John D. Filby sold 18,936 shares of Deluxe stock in a transaction that occurred on Monday, July 31st. The stock was sold at an average price of $72.21, for a total transaction of $1,367,368.56. Following the transaction, the vice president now directly owns 46,154 shares in the company, valued at $3,332,780.34. The disclosure for this sale can be found here. Insiders own 2.40% of the company’s stock.

About Deluxe

Deluxe Corporation is a provider of payment solutions. The Company provides a suite of customer life cycle management solutions to its customers across multiple channels. The Company operates in three segments: Small Business Services segment, Financial Services segment and Direct Checks segment. The Company’s product and service offerings consist of checks, forms and accessories, and other products.

Institutional Ownership by Quarter for Deluxe (NYSE:DLX)

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