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

Deluxe (NYSE:DLX – Get Rating) had its target price reduced by Cowen from $42.00 to $36.00 in a research note issued to investors on Friday morning, Stock Target Advisor reports.

Other equities analysts have also issued reports about the company. Cowen reduced their target price on Deluxe from $42.00 to $36.00 in a report on Friday. StockNews.com raised Deluxe from a hold rating to a buy rating in a report on Thursday, May 19th.

Deluxe Trading Down 6.9 %

NYSE DLX opened at $23.57 on Friday. The business’s 50-day moving average price is $22.67 and its two-hundred day moving average price is $27.11. Deluxe has a 12 month low of $20.48 and a 12 month high of $42.72. The firm has a market capitalization of $1.01 billion, a PE ratio of 17.72 and a beta of 1.45. The company has a current ratio of 0.95, a quick ratio of 0.86 and a debt-to-equity ratio of 2.71.

Deluxe (NYSE:DLX – Get Rating) last announced its earnings results on Thursday, August 4th. The business services provider reported $0.99 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 business had revenue of $563.00 million for the quarter, compared to the consensus estimate of $528.25 million. During the same quarter in the previous year, the company earned $1.25 EPS. The firm’s revenue for the quarter was up 17.7% on a year-over-year basis.

Deluxe Dividend Announcement

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

Institutional Investors Weigh In On Deluxe

Several hedge funds and other institutional investors have recently modified their holdings of DLX. Russell Investments Group Ltd. increased its position in shares of Deluxe by 44.4% during the first quarter. Russell Investments Group Ltd. now owns 656,594 shares of the business services provider’s stock valued at $19,853,000 after buying an additional 202,008 shares during the period. American Century Companies Inc. increased its position in shares of Deluxe by 7.3% during the fourth quarter. American Century Companies Inc. now owns 2,748,827 shares of the business services provider’s stock valued at $88,265,000 after buying an additional 187,699 shares during the period. Victory Capital Management Inc. increased its position in shares of Deluxe by 122.8% during the first quarter. Victory Capital Management Inc. now owns 332,927 shares of the business services provider’s stock valued at $9,016,000 after buying an additional 183,517 shares during the period. William Blair Investment Management LLC increased its position in shares of Deluxe by 11.1% in the fourth quarter. William Blair Investment Management LLC now owns 1,237,506 shares of the business services provider’s stock worth $39,736,000 after purchasing an additional 123,284 shares during the last quarter. Finally, Vanguard Group Inc. increased its position in shares of Deluxe by 1.6% in the first quarter. Vanguard Group Inc. now owns 4,638,914 shares of the business services provider’s stock worth $140,281,000 after purchasing an additional 73,156 shares during the last quarter. 90.86% of the stock is currently 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.