Deluxe Corporation $DLX Shares Bought by SummerHaven Investment Management LLC

SummerHaven Investment Management LLC raised its position in Deluxe Corporation (NYSE:DLX) by 2.7% in the 2nd quarter, according to its most recent filing with the SEC. The firm owned 36,792 shares of the business services provider’s stock after acquiring an additional 973 shares during the period. SummerHaven Investment Management LLC owned approximately 0.08% of Deluxe worth $585,000 at the end of the most recent reporting period.

Several other hedge funds also recently made changes to their positions in the company. LSV Asset Management lifted its stake in shares of Deluxe by 1.7% in the 1st quarter. LSV Asset Management now owns 1,848,739 shares of the business services provider’s stock worth $29,229,000 after acquiring an additional 30,608 shares during the period. Russell Investments Group Ltd. lifted its stake in shares of Deluxe by 1.7% in the 1st quarter. Russell Investments Group Ltd. now owns 512,958 shares of the business services provider’s stock worth $8,110,000 after acquiring an additional 8,339 shares during the period. Royal Bank of Canada lifted its stake in shares of Deluxe by 25.6% in the 1st quarter. Royal Bank of Canada now owns 505,810 shares of the business services provider’s stock worth $7,996,000 after acquiring an additional 102,948 shares during the period. Bridgeway Capital Management LLC lifted its stake in shares of Deluxe by 1.1% in the 1st quarter. Bridgeway Capital Management LLC now owns 423,338 shares of the business services provider’s stock worth $6,693,000 after acquiring an additional 4,714 shares during the period. Finally, Nuveen LLC acquired a new stake in shares of Deluxe in the 1st quarter worth $5,281,000. Institutional investors and hedge funds own 93.90% of the company’s stock.

Wall Street Analysts Forecast Growth

DLX has been the subject of a number of research analyst reports. Cowen reiterated a “buy” rating on shares of Deluxe in a report on Thursday, August 7th. Wall Street Zen downgraded shares of Deluxe from a “strong-buy” rating to a “buy” rating in a report on Saturday, August 9th. Two analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $23.00.

Deluxe Stock Performance

NYSE:DLX opened at $19.26 on Tuesday. 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 company has a market capitalization of $864.49 million, a P/E ratio of 14.93, a price-to-earnings-growth ratio of 0.53 and a beta of 1.53. The firm has a 50-day moving average price of $18.71 and a two-hundred day moving average price of $16.54. Deluxe Corporation has a twelve month low of $13.61 and a twelve month high of $24.45.

Deluxe (NYSE:DLX) last released its quarterly earnings results 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. The business had revenue of $521.30 million for the quarter, compared to analyst estimates of $526.93 million. Deluxe had a net margin of 2.75% and a return on equity of 21.12%. The company’s quarterly revenue was down 3.1% on a year-over-year basis. During the same period in the prior year, the business earned $0.86 earnings per share. As a group, research analysts expect that Deluxe Corporation will post 2.77 earnings per share for the current fiscal year.

Deluxe Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, September 2nd. Stockholders of record on Monday, August 18th were given a $0.30 dividend. The ex-dividend date was Monday, August 18th. This represents a $1.20 annualized dividend and a dividend yield of 6.2%. Deluxe’s dividend payout ratio is currently 93.02%.

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.