BidaskClub Upgrades Deluxe Corporation (DLX) to Hold

Deluxe Corporation (NYSE:DLX) was upgraded by BidaskClub from a “sell” rating to a “hold” rating in a research note issued on Monday, July 31st.

Separately, Zacks Investment Research upgraded Deluxe Corporation from a “hold” rating to a “buy” rating and set a $81.00 price objective on the stock in a research note on Tuesday, May 2nd.

Deluxe Corporation (NYSE DLX) traded down 0.20% during trading on Monday, hitting $68.17. 540,769 shares of the company’s stock traded hands. The company has a market cap of $3.30 billion, a PE ratio of 14.58 and a beta of 1.35. The company’s 50 day moving average price is $70.15 and its 200 day moving average price is $71.00. Deluxe Corporation has a 52-week low of $59.47 and a 52-week high of $75.94.

Deluxe Corporation (NYSE:DLX) last announced its quarterly earnings data on Thursday, July 27th. The business services provider reported $1.29 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $1.24 by $0.05. Deluxe Corporation had a return on equity of 27.83% and a net margin of 11.98%. The business had revenue of $485.20 million for the quarter, compared to analysts’ expectations of $479.42 million. During the same period in the previous year, the business posted $1.20 EPS. The firm’s quarterly revenue was up 7.7% compared to the same quarter last year. Analysts expect that Deluxe Corporation will post $5.25 earnings per share for the current year.

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In other Deluxe Corporation news, Director Ronald C. Baldwin sold 2,000 shares of Deluxe Corporation stock in a transaction dated Monday, July 31st. The stock was sold at an average price of $72.41, for a total transaction of $144,820.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, VP John D. Filby sold 18,936 shares of Deluxe Corporation stock in a transaction dated Monday, July 31st. The shares were sold at an average price of $72.21, for a total value of $1,367,368.56. Following the transaction, the vice president now directly owns 46,154 shares of the company’s stock, valued at approximately $3,332,780.34. The disclosure for this sale can be found here. 2.40% of the stock is owned by insiders.

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Hartford Investment Management Co. raised its position in Deluxe Corporation by 1.9% in the first quarter. Hartford Investment Management Co. now owns 3,906 shares of the business services provider’s stock worth $282,000 after buying an additional 71 shares during the last quarter. Renaissance Technologies LLC raised its position in shares of Deluxe Corporation by 52.1% in the fourth quarter. Renaissance Technologies LLC now owns 29,200 shares of the business services provider’s stock valued at $2,091,000 after buying an additional 10,000 shares during the last quarter. American International Group Inc. raised its position in shares of Deluxe Corporation by 4.1% in the first quarter. American International Group Inc. now owns 125,372 shares of the business services provider’s stock valued at $9,048,000 after buying an additional 4,899 shares during the last quarter. Pacer Advisors Inc. raised its position in shares of Deluxe Corporation by 22.0% in the first quarter. Pacer Advisors Inc. now owns 5,408 shares of the business services provider’s stock valued at $390,000 after buying an additional 975 shares during the last quarter. Finally, BlackRock Inc. raised its position in shares of Deluxe Corporation by 23,073.3% in the first quarter. BlackRock Inc. now owns 5,191,045 shares of the business services provider’s stock valued at $374,639,000 after buying an additional 5,168,644 shares during the last quarter. 92.66% of the stock is owned by institutional investors and hedge funds.

Deluxe Corporation Company Profile

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.

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