Deluxe (NYSE:DLX) Coverage Initiated at Northcoast Research

Research analysts at Northcoast Research started coverage on shares of Deluxe (NYSE:DLX) in a research note issued to investors on Friday, Briefing.com reports. The firm set a “buy” rating and a $27.00 price target on the business services provider’s stock. Northcoast Research’s price target would suggest a potential upside of 42.48% from the stock’s current price.

Deluxe Stock Up 0.9 %

DLX stock opened at $18.95 on Friday. The company has a market cap of $830.96 million, a P/E ratio of 32.12, a P/E/G ratio of 0.56 and a beta of 1.49. Deluxe has a 52 week low of $13.61 and a 52 week high of $21.97. The company’s 50-day moving average price is $19.68 and its 200 day moving average price is $19.31. The company has a current ratio of 0.93, a quick ratio of 0.88 and a debt-to-equity ratio of 2.49.

Deluxe (NYSE:DLX) last posted its quarterly earnings data on Thursday, February 1st. The business services provider reported $0.80 earnings per share for the quarter, beating analysts’ consensus estimates of $0.75 by $0.05. Deluxe had a net margin of 1.20% and a return on equity of 21.53%. The business had revenue of $537.40 million during the quarter, compared to analyst estimates of $537.80 million. During the same quarter in the previous year, the business posted $0.98 earnings per share. The company’s revenue was down 4.7% on a year-over-year basis. On average, research analysts expect that Deluxe will post 2.78 earnings per share for the current fiscal year.

Insider Activity

In other news, CEO Barry C. Mccarthy bought 2,666 shares of the firm’s stock in a transaction dated Wednesday, March 13th. The stock was acquired at an average cost of $19.25 per share, for a total transaction of $51,320.50. Following the completion of the purchase, the chief executive officer now owns 173,410 shares of the company’s stock, valued at $3,338,142.50. The acquisition was disclosed in a filing with the SEC, which is available through the SEC website. Insiders own 4.23% of the company’s stock.

Hedge Funds Weigh In On Deluxe

A number of hedge funds have recently bought and sold shares of DLX. CWM LLC raised its position in shares of Deluxe by 314.2% during the 3rd quarter. CWM LLC now owns 1,400 shares of the business services provider’s stock valued at $26,000 after acquiring an additional 1,062 shares in the last quarter. Quarry LP raised its position in shares of Deluxe by 50.9% during the 1st quarter. Quarry LP now owns 2,135 shares of the business services provider’s stock valued at $34,000 after acquiring an additional 720 shares in the last quarter. Allspring Global Investments Holdings LLC acquired a new stake in shares of Deluxe during the 1st quarter valued at approximately $46,000. Captrust Financial Advisors raised its position in shares of Deluxe by 73.1% during the 1st quarter. Captrust Financial Advisors now owns 2,229 shares of the business services provider’s stock valued at $67,000 after acquiring an additional 941 shares in the last quarter. Finally, PNC Financial Services Group Inc. raised its position in shares of Deluxe by 19.1% during the 1st quarter. PNC Financial Services Group Inc. now owns 3,061 shares of the business services provider’s stock valued at $93,000 after acquiring an additional 491 shares in the last quarter. 93.90% of the stock is currently owned by institutional investors and hedge funds.

About Deluxe

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.