Denali Advisors LLC Makes New $769,000 Investment in Deluxe Corporation $DLX

Denali Advisors LLC acquired a new position in Deluxe Corporation (NYSE:DLX) in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor acquired 39,700 shares of the business services provider’s stock, valued at approximately $769,000.

Several other hedge funds have also recently modified their holdings of the company. AQR Capital Management LLC grew its holdings in shares of Deluxe by 99.7% in the second quarter. AQR Capital Management LLC now owns 543,359 shares of the business services provider’s stock valued at $8,645,000 after acquiring an additional 271,225 shares in the last quarter. Bridgeway Capital Management LLC boosted its position in Deluxe by 49.9% in the second quarter. Bridgeway Capital Management LLC now owns 634,447 shares of the business services provider’s stock worth $10,094,000 after purchasing an additional 211,109 shares during the last quarter. Prudential Financial Inc. grew its stake in Deluxe by 18.3% in the 2nd quarter. Prudential Financial Inc. now owns 736,679 shares of the business services provider’s stock valued at $11,721,000 after purchasing an additional 113,886 shares during the period. Royal Bank of Canada increased its position in shares of Deluxe by 25.6% during the 1st quarter. Royal Bank of Canada now owns 505,810 shares of the business services provider’s stock valued at $7,996,000 after purchasing an additional 102,948 shares during the last quarter. Finally, Teacher Retirement System of Texas bought a new stake in shares of Deluxe during the 2nd quarter worth $1,577,000. Institutional investors own 93.90% of the company’s stock.

Deluxe Trading Up 1.2%

Shares of DLX stock opened at $26.19 on Tuesday. The company has a quick ratio of 0.91, a current ratio of 1.00 and a debt-to-equity ratio of 2.04. The firm has a market cap of $1.18 billion, a P/E ratio of 13.93, a price-to-earnings-growth ratio of 0.62 and a beta of 1.40. The business has a 50-day moving average price of $24.07 and a two-hundred day moving average price of $20.95. Deluxe Corporation has a 12-month low of $13.61 and a 12-month high of $28.60.

Deluxe Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, February 23rd. Shareholders of record on Monday, February 9th will be given a dividend of $0.30 per share. The ex-dividend date of this dividend is Monday, February 9th. This represents a $1.20 annualized dividend and a yield of 4.6%. Deluxe’s dividend payout ratio is presently 63.83%.

Wall Street Analysts Forecast Growth

Several brokerages have recently issued reports on DLX. Weiss Ratings upgraded shares of Deluxe from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Tuesday, February 10th. Wall Street Zen raised Deluxe from a “buy” rating to a “strong-buy” rating in a report on Saturday, November 8th. CJS Securities upgraded Deluxe to a “hold” rating in a research note on Thursday, December 11th. Finally, Zacks Research raised Deluxe from a “hold” rating to a “strong-buy” rating in a research report on Monday, February 2nd. One analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating and one has issued a Hold rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Buy” and a consensus price target of $23.00.

About Deluxe

Deluxe Corporation, founded in 1915 and headquartered in Shoreview, Minnesota, is a provider of integrated business and financial technology solutions. Originally established as a check printing company, Deluxe has evolved its offerings to support small businesses, financial institutions and entrepreneurs with a comprehensive suite of services spanning print, digital and software platforms.

The company’s core business activities include printing checks, forms and promotional materials, as well as delivering digital marketing and customer engagement solutions.