Deluxe Corp. (DLX) Sees Large Volume Increase
Shares of Deluxe Corp. (NYSE:DLX) saw unusually-high trading volume on Tuesday . Approximately 391,096 shares traded hands during mid-day trading, an increase of 57% from the previous session’s volume of 249,742 shares.The stock last traded at $66.93 and had previously closed at $66.93.
Separately, Zacks Investment Research upgraded Deluxe Corp. from a “hold” rating to a “buy” rating and set a $76.00 price target for the company in a research note on Tuesday, August 2nd.
The firm has a market capitalization of $3.26 billion, a price-to-earnings ratio of 14.24 and a beta of 1.47. The firm has a 50-day moving average of $67.98 and a 200-day moving average of $64.91.
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Deluxe Corp. (NYSE:DLX) last announced its quarterly earnings data on Thursday, July 28th. The company reported $1.20 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.18 by $0.02. Deluxe Corp. had a return on equity of 31.19% and a net margin of 12.86%. The firm earned $450.60 million during the quarter, compared to analysts’ expectations of $450.56 million. During the same period last year, the business posted $1.13 earnings per share. The company’s revenue for the quarter was up 3.4% compared to the same quarter last year. Analysts anticipate that Deluxe Corp. will post $4.93 earnings per share for the current fiscal year.
The company also recently disclosed a quarterly dividend, which was paid on Tuesday, September 6th. Stockholders of record on Monday, August 22nd were paid a $0.30 dividend. This represents a $1.20 annualized dividend and a dividend yield of 1.79%. The ex-dividend date was Thursday, August 18th. Deluxe Corp.’s payout ratio is 25.59%.
In other news, Director Neil Metviner sold 8,000 shares of the firm’s stock in a transaction dated Tuesday, September 6th. The stock was sold at an average price of $69.23, for a total value of $553,840.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 2.90% of the stock is owned by insiders.
A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. Zebra Capital Management LLC boosted its position in shares of Deluxe Corp. by 24.1% in the first quarter. Zebra Capital Management LLC now owns 29,311 shares of the company’s stock valued at $1,832,000 after buying an additional 5,697 shares in the last quarter. M&T Bank Corp boosted its position in shares of Deluxe Corp. by 3.3% in the first quarter. M&T Bank Corp now owns 20,646 shares of the company’s stock valued at $1,290,000 after buying an additional 661 shares in the last quarter. Royce & Associates LP bought a new position in shares of Deluxe Corp. during the first quarter valued at $2,236,000. NN Investment Partners Holdings N.V. bought a new position in shares of Deluxe Corp. during the first quarter valued at $4,197,000. Finally, BlackRock Institutional Trust Company N.A. boosted its position in shares of Deluxe Corp. by 2.4% in the first quarter. BlackRock Institutional Trust Company N.A. now owns 1,490,636 shares of the company’s stock valued at $93,150,000 after buying an additional 35,076 shares in the last quarter. Institutional investors own 90.57% of the company’s stock.
Deluxe Corp. Company Profile
Deluxe Corporation provides payment solutions. The Company operates in three segments: Small Business Services segment, Financial Services segment and Direct Checks segment. Its Small Business Services segment offers services for marketing needs of small businesses, including Web design, hosting and other Web services; search engine optimization; marketing services, including e-mail, mobile, social media and other self-service marketing solutions; digital printing services, and logo design.
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