Deluxe (NYSE:DLX) Stock Rating Lowered by StockNews.com

StockNews.com downgraded shares of Deluxe (NYSE:DLX) from a strong-buy rating to a buy rating in a research note released on Thursday morning.

Deluxe Stock Up 1.3 %

Shares of NYSE DLX opened at $23.25 on Thursday. The company has a quick ratio of 0.83, a current ratio of 0.92 and a debt-to-equity ratio of 2.38. The firm’s fifty day moving average is $20.23 and its 200 day moving average is $21.14. The company has a market cap of $1.03 billion, a price-to-earnings ratio of 18.75, a PEG ratio of 0.65 and a beta of 1.46. Deluxe has a 52 week low of $17.60 and a 52 week high of $24.87.

Deluxe Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, December 2nd. Investors of record on Tuesday, November 19th will be paid a $0.30 dividend. This represents a $1.20 dividend on an annualized basis and a yield of 5.16%. The ex-dividend date is Tuesday, November 19th. Deluxe’s payout ratio is 96.77%.

Insider Buying and Selling

In other Deluxe news, CEO Barry C. Mccarthy bought 2,820 shares of Deluxe stock in a transaction dated Tuesday, September 10th. The shares were purchased at an average cost of $19.08 per share, with a total value of $53,805.60. Following the transaction, the chief executive officer now directly owns 178,670 shares of the company’s stock, valued at $3,409,023.60. This represents a 1.60 % increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. 4.23% of the stock is owned by insiders.

Hedge Funds Weigh In On Deluxe

Several large investors have recently made changes to their positions in the business. Point72 Asia Singapore Pte. Ltd. purchased a new position in Deluxe in the second quarter worth about $26,000. Innealta Capital LLC purchased a new stake in Deluxe in the second quarter worth about $30,000. Truvestments Capital LLC purchased a new position in shares of Deluxe during the 3rd quarter valued at about $32,000. Ariadne Wealth Management LP purchased a new position in Deluxe during the second quarter valued at approximately $35,000. Finally, CWM LLC boosted its holdings in Deluxe by 555.6% in the 2nd quarter. CWM LLC now owns 1,757 shares of the business services provider’s stock worth $39,000 after buying an additional 1,489 shares during the period. 93.90% of the stock is currently owned by hedge funds and other institutional investors.

Deluxe Company 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.