Deluxe Co. (NYSE:DLX) Shares Sold by Truvestments Capital LLC

Truvestments Capital LLC reduced its holdings in Deluxe Co. (NYSE:DLX) by 31.3% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 5,526 shares of the business services provider’s stock after selling 2,516 shares during the quarter. Truvestments Capital LLC’s holdings in Deluxe were worth $114,000 at the end of the most recent quarter.

Other hedge funds have also modified their holdings of the company. Texas Permanent School Fund Corp raised its holdings in Deluxe by 1.5% during the first quarter. Texas Permanent School Fund Corp now owns 38,246 shares of the business services provider’s stock worth $787,000 after purchasing an additional 552 shares during the last quarter. New York State Common Retirement Fund raised its holdings in Deluxe by 3.5% during the fourth quarter. New York State Common Retirement Fund now owns 36,782 shares of the business services provider’s stock worth $789,000 after purchasing an additional 1,253 shares during the last quarter. State Board of Administration of Florida Retirement System increased its position in Deluxe by 14.0% during the first quarter. State Board of Administration of Florida Retirement System now owns 14,169 shares of the business services provider’s stock worth $292,000 after buying an additional 1,740 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank increased its position 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 buying an additional 1,985 shares in the last quarter. Finally, Allspring Global Investments Holdings LLC purchased a new position in Deluxe during the first quarter worth $46,000. 93.90% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at Deluxe

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

Deluxe Trading Up 1.6 %

Shares of NYSE:DLX traded up $0.38 during midday trading on Friday, reaching $24.44. The company’s stock had a trading volume of 211,258 shares, compared to its average volume of 235,868. The firm has a market cap of $1.08 billion, a price-to-earnings ratio of 31.74, a price-to-earnings-growth ratio of 0.70 and a beta of 1.47. The company has a quick ratio of 0.88, a current ratio of 0.97 and a debt-to-equity ratio of 2.53. Deluxe Co. has a 1 year low of $16.00 and a 1 year high of $24.66. The business has a 50 day moving average price of $22.46 and a 200 day moving average price of $20.96.

Deluxe (NYSE:DLX) last announced its quarterly earnings data on Wednesday, May 1st. The business services provider reported $0.67 EPS for the quarter, beating analysts’ consensus estimates 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 during the quarter, compared to the consensus estimate of $527.45 million. Research analysts forecast that Deluxe Co. will post 2.92 EPS for the current year.

Deluxe Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Monday, June 3rd. Shareholders of record on Monday, May 20th were given a dividend of $0.30 per share. This represents a $1.20 dividend on an annualized basis and a yield of 4.91%. The ex-dividend date was Friday, May 17th. Deluxe’s dividend payout ratio (DPR) is presently 155.85%.

Analysts Set New Price Targets

Several research firms have weighed in on DLX. StockNews.com downgraded Deluxe from a “strong-buy” rating to a “buy” rating in a research report on Sunday. Northcoast Research started coverage on Deluxe in a research report on Friday, April 19th. They issued a “buy” rating and a $27.00 price objective for the company. Finally, TD Cowen lifted their price objective on Deluxe from $33.00 to $35.00 and gave the company a “buy” rating in a research report on Tuesday, May 14th.

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.