Deluxe (NYSE:DLX) PT Lowered to $42.00 at Cowen

Deluxe (NYSE:DLXGet Rating) had its target price dropped by stock analysts at Cowen from $50.00 to $42.00 in a research note issued to investors on Wednesday, The Fly reports. Cowen’s price objective suggests a potential upside of 54.58% from the stock’s previous close.

Separately, StockNews.com assumed coverage on Deluxe in a research report on Thursday, March 31st. They issued a “buy” rating for the company.

NYSE:DLX opened at $27.17 on Wednesday. The firm has a market cap of $1.16 billion, a P/E ratio of 18.74 and a beta of 1.49. The stock has a 50 day moving average of $30.82 and a two-hundred day moving average of $32.76. Deluxe has a 12 month low of $27.04 and a 12 month high of $48.38. The company has a current ratio of 0.91, a quick ratio of 0.86 and a debt-to-equity ratio of 2.83.

Deluxe (NYSE:DLXGet Rating) last announced its quarterly earnings data on Thursday, February 3rd. The business services provider reported $1.12 earnings per share for the quarter. Deluxe had a return on equity of 33.13% and a net margin of 3.10%. The company had revenue of $570.60 million for the quarter, compared to analyst estimates of $547.57 million. During the same quarter last year, the firm posted $1.38 EPS. The firm’s revenue for the quarter was up 25.5% on a year-over-year basis.

Hedge funds and other institutional investors have recently made changes to their positions in the company. William Blair Investment Management LLC increased its position in shares of Deluxe by 47,720.7% during the third quarter. William Blair Investment Management LLC now owns 1,114,222 shares of the business services provider’s stock worth $39,989,000 after purchasing an additional 1,111,892 shares in the last quarter. Deprince Race & Zollo Inc. boosted its stake in shares of Deluxe by 221.3% during the 3rd quarter. Deprince Race & Zollo Inc. now owns 975,195 shares of the business services provider’s stock worth $35,000,000 after acquiring an additional 671,685 shares in the last quarter. Goldman Sachs Group Inc. boosted its stake in shares of Deluxe by 40.6% during the 3rd quarter. Goldman Sachs Group Inc. now owns 1,561,715 shares of the business services provider’s stock worth $56,050,000 after acquiring an additional 451,248 shares in the last quarter. Norges Bank acquired a new position in shares of Deluxe during the 4th quarter worth approximately $13,757,000. Finally, Russell Investments Group Ltd. grew its stake in shares of Deluxe by 172.0% during the 3rd quarter. Russell Investments Group Ltd. now owns 383,681 shares of the business services provider’s stock valued at $13,768,000 after buying an additional 242,618 shares during the period. Institutional investors and hedge funds own 91.95% of the company’s stock.

Deluxe Company Profile (Get Rating)

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.

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