Algert Global LLC Lowers Position in Deluxe Corporation $DLX

Algert Global LLC cut its stake in Deluxe Corporation (NYSE:DLX) by 63.3% in the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 45,421 shares of the business services provider’s stock after selling 78,388 shares during the quarter. Algert Global LLC’s holdings in Deluxe were worth $718,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds have also recently modified their holdings of the stock. Brandywine Global Investment Management LLC raised its stake in shares of Deluxe by 14.2% in the first quarter. Brandywine Global Investment Management LLC now owns 154,840 shares of the business services provider’s stock worth $2,448,000 after purchasing an additional 19,310 shares during the last quarter. Russell Investments Group Ltd. raised its stake in shares of Deluxe by 1.7% in the first quarter. Russell Investments Group Ltd. now owns 512,958 shares of the business services provider’s stock worth $8,110,000 after purchasing an additional 8,339 shares during the last quarter. Public Sector Pension Investment Board grew its holdings in shares of Deluxe by 27.3% in the first quarter. Public Sector Pension Investment Board now owns 140,376 shares of the business services provider’s stock valued at $2,219,000 after acquiring an additional 30,083 shares in the last quarter. Nuveen LLC bought a new position in shares of Deluxe in the first quarter valued at approximately $5,281,000. Finally, Connor Clark & Lunn Investment Management Ltd. grew its holdings in shares of Deluxe by 9.0% in the first quarter. Connor Clark & Lunn Investment Management Ltd. now owns 222,431 shares of the business services provider’s stock valued at $3,517,000 after acquiring an additional 18,443 shares in the last quarter. 93.90% of the stock is owned by hedge funds and other institutional investors.

Deluxe Price Performance

Deluxe stock opened at $20.0410 on Friday. Deluxe Corporation has a 12 month low of $13.61 and a 12 month high of $24.45. The company has a current ratio of 0.94, a quick ratio of 0.85 and a debt-to-equity ratio of 2.24. The business’s 50 day simple moving average is $16.88 and its 200 day simple moving average is $16.11. The company has a market cap of $899.54 million, a price-to-earnings ratio of 15.54, a PEG ratio of 0.55 and a beta of 1.49.

Deluxe (NYSE:DLX) last posted its quarterly earnings data on Wednesday, August 6th. The business services provider reported $0.88 EPS for the quarter, beating the consensus estimate of $0.71 by $0.17. Deluxe had a return on equity of 21.12% and a net margin of 2.75%.The business had revenue of $521.30 million for the quarter, compared to the consensus estimate of $526.93 million. During the same quarter in the prior year, the business earned $0.86 earnings per share. Deluxe’s revenue for the quarter was down 3.1% on a year-over-year basis. Sell-side analysts forecast that Deluxe Corporation will post 2.77 EPS for the current year.

Deluxe Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 2nd. Investors of record on Monday, August 18th will be paid a $0.30 dividend. The ex-dividend date is Monday, August 18th. This represents a $1.20 annualized dividend and a yield of 6.0%. Deluxe’s dividend payout ratio is presently 93.02%.

Analysts Set New Price Targets

Several research firms have recently issued reports on DLX. TD Securities reduced their target price on Deluxe from $33.00 to $23.00 and set a “buy” rating for the company in a report on Thursday, May 1st. Wall Street Zen lowered Deluxe from a “strong-buy” rating to a “buy” rating in a report on Saturday, August 9th. Finally, Cowen reaffirmed a “buy” rating on shares of Deluxe in a report on Thursday, August 7th. Two research analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $23.00.

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.