LSV Asset Management Has $43.05 Million Stock Position in Deluxe Co. (NYSE:DLX)

LSV Asset Management lifted its stake in shares of Deluxe Co. (NYSE:DLX) by 2.4% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 2,090,671 shares of the business services provider’s stock after acquiring an additional 48,067 shares during the quarter. LSV Asset Management’s holdings in Deluxe were worth $43,047,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds have also recently added to or reduced their stakes in DLX. Allspring Global Investments Holdings LLC acquired a new position in Deluxe in the first quarter valued at approximately $46,000. Armstrong Advisory Group Inc. lifted its position in shares of Deluxe by 159.3% during the 4th quarter. Armstrong Advisory Group Inc. now owns 3,106 shares of the business services provider’s stock valued at $67,000 after acquiring an additional 1,908 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank boosted its stake in Deluxe by 32.9% during the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 8,026 shares of the business services provider’s stock worth $172,000 after acquiring an additional 1,985 shares in the last quarter. DekaBank Deutsche Girozentrale acquired a new stake in Deluxe in the fourth quarter worth $215,000. Finally, Quadrature Capital Ltd bought a new stake in Deluxe in the 4th quarter valued at about $220,000. Institutional investors own 93.90% of the company’s stock.

Wall Street Analysts Forecast Growth

DLX has been the subject of several recent research reports. TD Cowen boosted their price objective on Deluxe from $33.00 to $35.00 and gave the company a “buy” rating in a report on Tuesday, May 14th. StockNews.com raised shares of Deluxe from a “buy” rating to a “strong-buy” rating in a research note on Thursday. Finally, Northcoast Research began coverage on Deluxe in a research report on Friday, April 19th. They issued a “buy” rating and a $27.00 price target for the company.

Deluxe Stock Performance

Shares of NYSE DLX traded up $0.14 during midday trading on Friday, reaching $22.28. The company’s stock had a trading volume of 289,921 shares, compared to its average volume of 224,632. The stock has a market capitalization of $981.43 million, a P/E ratio of 28.74, a PEG ratio of 0.61 and a beta of 1.47. The company has a debt-to-equity ratio of 2.53, a current ratio of 0.97 and a quick ratio of 0.88. The firm has a 50 day moving average price of $22.22 and a 200-day moving average price of $20.76. Deluxe Co. has a 12-month low of $16.00 and a 12-month high of $24.00.

Deluxe (NYSE:DLX) last posted its quarterly earnings data on Wednesday, May 1st. The business services provider reported $0.67 earnings per share for the quarter, topping the consensus estimate of $0.60 by $0.07. Deluxe had a return on equity of 21.33% and a net margin of 1.57%. The business had revenue of $535.00 million for the quarter, compared to analysts’ expectations of $527.45 million. As a group, equities analysts predict that Deluxe Co. will post 2.92 earnings per share for the current year.

Deluxe Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, June 3rd. Investors of record on Monday, May 20th were issued a dividend of $0.30 per share. The ex-dividend date of this dividend was Friday, May 17th. This represents a $1.20 dividend on an annualized basis and a yield of 5.39%. Deluxe’s dividend payout ratio (DPR) is presently 155.85%.

Insiders Place Their Bets

In other news, CEO Barry C. Mccarthy acquired 2,440 shares of Deluxe stock in a transaction on Monday, June 10th. The stock was acquired at an average cost of $21.63 per share, with a total value of $52,777.20. Following the completion of the acquisition, the chief executive officer now owns 175,850 shares in the company, valued at $3,803,635.50. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Over the last 90 days, insiders have purchased 2,675 shares of company stock valued at $58,063. Company insiders own 4.23% of the company’s stock.

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.