Deluxe Co. (NYSE:DLX) to Issue $0.30 Quarterly Dividend

Deluxe Co. (NYSE:DLX – Get Rating) declared a quarterly dividend on Friday, August 5th, Wall Street Journal reports. Shareholders of record on Monday, August 22nd will be paid a dividend of 0.30 per share by the business services provider on Tuesday, September 6th. 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, August 19th.

Deluxe has a payout ratio of 24.7% meaning its dividend is sufficiently covered by earnings.

Deluxe Trading Down 6.9 %

Shares of DLX stock opened at $23.57 on Friday. The stock’s fifty day moving average is $22.67 and its two-hundred day moving average is $27.11. The company has a debt-to-equity ratio of 2.71, a quick ratio of 0.86 and a current ratio of 0.95. The firm has a market capitalization of $1.01 billion, a P/E ratio of 17.72 and a beta of 1.45. Deluxe has a fifty-two week low of $20.48 and a fifty-two week high of $42.72.

Deluxe (NYSE:DLX – Get Rating) last announced its quarterly earnings data on Thursday, August 4th. The business services provider reported $0.99 earnings per share for the quarter, missing analysts’ consensus estimates of $1.05 by ($0.06). The firm had revenue of $563.00 million during the quarter, compared to analysts’ expectations of $528.25 million. Deluxe had a net margin of 2.61% and a return on equity of 30.24%. The company’s revenue for the quarter was up 17.7% on a year-over-year basis. During the same quarter in the previous year, the business posted $1.25 EPS.

Wall Street Analysts Forecast Growth

Several research analysts have recently commented on DLX shares. StockNews.com upgraded Deluxe from a “hold” rating to a “buy” rating in a report on Thursday, May 19th. Cowen reduced their price target on Deluxe from $42.00 to $36.00 in a report on Friday. Finally, Cowen reduced their price target on Deluxe from $42.00 to $36.00 in a report on Friday.

Institutional Trading of Deluxe

Several institutional investors and hedge funds have recently bought and sold shares of DLX. Envestnet Asset Management Inc. purchased a new stake in Deluxe in the 1st quarter valued at about $209,000. PNC Financial Services Group Inc. raised its holdings in Deluxe by 19.1% in 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 buying an additional 491 shares during the period. MetLife Investment Management LLC raised its holdings in Deluxe by 58.1% in the 1st quarter. MetLife Investment Management LLC now owns 22,763 shares of the business services provider’s stock valued at $688,000 after buying an additional 8,367 shares during the period. Commonwealth of Pennsylvania Public School Empls Retrmt SYS raised its holdings in Deluxe by 14.1% in the 1st quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 36,730 shares of the business services provider’s stock valued at $1,111,000 after buying an additional 4,528 shares during the period. Finally, Great West Life Assurance Co. Can raised its holdings in Deluxe by 2.3% in the 1st quarter. Great West Life Assurance Co. Can now owns 38,689 shares of the business services provider’s stock valued at $1,202,000 after buying an additional 863 shares during the period. 90.86% of the stock is currently owned by hedge funds and other 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.