Deluxe (NYSE:DLX) Rating Lowered to Buy at StockNews.com

Deluxe (NYSE:DLX) was downgraded by equities research analysts at StockNews.com from a “strong-buy” rating to a “buy” rating in a research note issued on Friday.

Separately, TD Cowen upped their price objective on Deluxe from $29.00 to $32.00 and gave the company an “outperform” rating in a report on Friday, August 4th.

Deluxe Trading Up 5.2 %

NYSE DLX opened at $18.53 on Friday. The stock has a 50-day simple moving average of $18.85 and a 200 day simple moving average of $17.77. The company has a market capitalization of $808.28 million, a PE ratio of 15.31, a P/E/G ratio of 0.47 and a beta of 1.57. The company has a current ratio of 0.96, a quick ratio of 0.86 and a debt-to-equity ratio of 2.58. Deluxe has a 12 month low of $13.61 and a 12 month high of $21.59.

Deluxe (NYSE:DLX) last released its quarterly earnings data on Thursday, August 3rd. The business services provider reported $0.83 EPS for the quarter, beating analysts’ consensus estimates of $0.51 by $0.32. The business had revenue of $571.70 million during the quarter, compared to the consensus estimate of $548.75 million. Deluxe had a return on equity of 24.46% and a net margin of 2.37%. Research analysts forecast that Deluxe will post 2.86 EPS for the current year.

Institutional Investors Weigh In On Deluxe

Several large investors have recently modified their holdings of the business. LSV Asset Management increased its holdings in shares of Deluxe by 1.3% in the third quarter. LSV Asset Management now owns 2,027,704 shares of the business services provider’s stock worth $38,303,000 after acquiring an additional 25,700 shares in the last quarter. Nisa Investment Advisors LLC increased its holdings in shares of Deluxe by 53.3% in the third quarter. Nisa Investment Advisors LLC now owns 38,239 shares of the business services provider’s stock worth $722,000 after acquiring an additional 13,300 shares in the last quarter. Allspring Global Investments Holdings LLC increased its holdings in shares of Deluxe by 893.3% in the third quarter. Allspring Global Investments Holdings LLC now owns 2,503 shares of the business services provider’s stock worth $47,000 after acquiring an additional 2,251 shares in the last quarter. New York State Teachers Retirement System increased its holdings in shares of Deluxe by 4.4% in the third quarter. New York State Teachers Retirement System now owns 75,486 shares of the business services provider’s stock worth $1,426,000 after acquiring an additional 3,196 shares in the last quarter. Finally, Bailard Inc. increased its holdings in shares of Deluxe by 157.7% in the third quarter. Bailard Inc. now owns 32,726 shares of the business services provider’s stock worth $618,000 after acquiring an additional 20,026 shares in the last quarter. 84.97% of the stock is currently owned by institutional investors.

Deluxe Company Profile

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, Data 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; data-driven marketing solutions and hosted solutions, such as digital engagement, logo design, financial institution profitability reporting, and business incorporation services, as well as web hosting and design services.