Deluxe (NYSE:DLX) Given New $36.00 Price Target at Cowen

Deluxe (NYSE:DLXGet Rating) had its price objective reduced by Cowen from $42.00 to $36.00 in a research report sent to investors on Friday, The Fly reports.

DLX has been the subject of several other reports. Cowen cut their price target on shares of Deluxe from $50.00 to $42.00 in a report on Wednesday, April 27th. StockNews.com raised shares of Deluxe from a hold rating to a buy rating in a research note on Thursday, May 19th.

Deluxe Trading Down 6.9 %

Shares of DLX stock opened at $23.57 on Friday. Deluxe has a 12-month low of $20.48 and a 12-month high of $42.72. The company has a market capitalization of $1.01 billion, a P/E ratio of 17.72 and a beta of 1.45. The firm has a 50-day moving average price of $22.67 and a 200 day moving average price of $27.11. The company has a quick ratio of 0.86, a current ratio of 0.95 and a debt-to-equity ratio of 2.71.

Deluxe (NYSE:DLXGet Rating) last announced its quarterly earnings results on Thursday, August 4th. The business services provider reported $0.99 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.05 by ($0.06). Deluxe had a net margin of 2.61% and a return on equity of 30.24%. The firm had revenue of $563.00 million for the quarter, compared to the consensus estimate of $528.25 million. During the same period in the prior year, the business earned $1.25 earnings per share. The company’s revenue for the quarter was up 17.7% on a year-over-year basis.

Deluxe Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, September 6th. Shareholders of record on Monday, August 22nd will be paid a $0.30 dividend. This represents a $1.20 dividend on an annualized basis and a dividend yield of 5.09%. The ex-dividend date of this dividend is Friday, August 19th. Deluxe’s dividend payout ratio is presently 90.23%.

Institutional Investors Weigh In On Deluxe

A number of institutional investors and hedge funds have recently modified their holdings of the business. Maryland State Retirement & Pension System raised its stake in shares of Deluxe by 2.2% during the first quarter. Maryland State Retirement & Pension System now owns 17,234 shares of the business services provider’s stock worth $521,000 after buying an additional 363 shares during the last quarter. PNC Financial Services Group Inc. boosted its holdings in shares of Deluxe by 19.1% in the first quarter. PNC Financial Services Group Inc. now owns 3,061 shares of the business services provider’s stock valued at $93,000 after buying an additional 491 shares during the period. Fuller & Thaler Asset Management Inc. boosted its holdings in shares of Deluxe by 0.3% in the fourth quarter. Fuller & Thaler Asset Management Inc. now owns 199,700 shares of the business services provider’s stock valued at $6,412,000 after buying an additional 522 shares during the period. Public Sector Pension Investment Board boosted its holdings in shares of Deluxe by 0.6% in the fourth quarter. Public Sector Pension Investment Board now owns 86,780 shares of the business services provider’s stock valued at $2,787,000 after buying an additional 540 shares during the period. Finally, Teacher Retirement System of Texas boosted its holdings in shares of Deluxe by 6.7% in the first quarter. Teacher Retirement System of Texas now owns 8,872 shares of the business services provider’s stock valued at $268,000 after buying an additional 556 shares during the period. 90.86% of the stock is owned by institutional investors.

About Deluxe

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Deluxe Corporation provides technology-enabled solutions to enterprises, small businesses, and financial institutions in the United States, Canada, Australia, South America, and Europe. It operates through four segments: Payments, Cloud Solutions, Promotional Solutions, and Checks. The company provides treasury management solutions, including remittance and lockbox processing, remote deposit capture, receivables management, payment processing, and paperless treasury management solutions, as well as payment exchange, and fraud and security services; web hosting and design services, data-driven marketing solutions and hosted solutions, such as digital engagement, logo design, financial institution profitability reporting, and business incorporation services.

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