Deluxe (NYSE:DLX) Hits New 52-Week High on Analyst Upgrade

Deluxe Co. (NYSE:DLX)’s share price hit a new 52-week high during trading on Wednesday after TD Cowen raised their price target on the stock from $33.00 to $35.00. TD Cowen currently has a buy rating on the stock. Deluxe traded as high as $24.00 and last traded at $23.41, with a volume of 14336 shares changing hands. The stock had previously closed at $23.65.

Separately, Northcoast Research began coverage on shares of Deluxe in a research note on Friday, April 19th. They set a “buy” rating and a $27.00 price objective on the stock.

Insider Buying and Selling

In other news, CEO Barry C. Mccarthy bought 2,666 shares of the stock in a transaction dated Wednesday, March 13th. The shares were bought at an average price 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 in the company, valued at $3,338,142.50. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. 4.23% of the stock is owned by insiders.

Institutional Trading of Deluxe

Institutional investors have recently modified their holdings of the stock. Allspring Global Investments Holdings LLC bought a new stake in Deluxe during the first quarter worth about $46,000. Armstrong Advisory Group Inc. boosted 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 worth $67,000 after acquiring an additional 1,908 shares in the last quarter. EMC Capital Management increased its stake in Deluxe by 63.2% in the third quarter. EMC Capital Management now owns 4,895 shares of the business services provider’s stock valued at $92,000 after acquiring an additional 1,895 shares during the last quarter. SG Americas Securities LLC acquired a new position in Deluxe during the first quarter valued at approximately $111,000. Finally, EntryPoint Capital LLC bought a new stake in Deluxe during the first quarter worth $153,000. 93.90% of the stock is currently owned by institutional investors.

Deluxe Stock Performance

The stock has a fifty day simple moving average of $20.24 and a two-hundred day simple moving average of $19.73. The company has a debt-to-equity ratio of 2.53, a quick ratio of 0.88 and a current ratio of 0.97. The stock has a market cap of $1.04 billion, a price-to-earnings ratio of 30.71, a P/E/G ratio of 0.69 and a beta of 1.48.

Deluxe Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, June 3rd. Shareholders of record on Monday, May 20th will be given a $0.30 dividend. This represents a $1.20 dividend on an annualized basis and a yield of 5.09%. The ex-dividend date of this dividend is Friday, May 17th. Deluxe’s dividend payout ratio is presently 155.85%.

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.