Charles Schwab Investment Management Inc. Decreases Position in Deluxe Corporation $DLX

Charles Schwab Investment Management Inc. reduced its stake in Deluxe Corporation (NYSE:DLX) by 3.3% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 603,894 shares of the business services provider’s stock after selling 20,440 shares during the period. Charles Schwab Investment Management Inc. owned about 1.35% of Deluxe worth $9,548,000 at the end of the most recent reporting period.

Other institutional investors have also recently made changes to their positions in the company. GAMMA Investing LLC boosted its holdings in shares of Deluxe by 1,067.0% during the first quarter. GAMMA Investing LLC now owns 2,229 shares of the business services provider’s stock worth $35,000 after purchasing an additional 2,038 shares during the period. Security National Bank lifted its holdings in Deluxe by 97.8% in the 1st quarter. Security National Bank now owns 3,567 shares of the business services provider’s stock worth $56,000 after buying an additional 1,764 shares during the period. Burney Co. purchased a new position in shares of Deluxe during the first quarter valued at approximately $164,000. XTX Topco Ltd bought a new position in shares of Deluxe during the fourth quarter valued at approximately $208,000. Finally, Envestnet Asset Management Inc. purchased a new stake in Deluxe in the fourth quarter worth $240,000. Hedge funds and other institutional investors own 93.90% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms recently issued reports on DLX. Wall Street Zen downgraded shares of Deluxe from a “strong-buy” rating to a “buy” rating in a research note on Saturday, August 9th. Cowen restated a “buy” rating on shares of Deluxe in a research note on Thursday, August 7th. Finally, TD Securities reduced their price target on Deluxe from $33.00 to $23.00 and set a “buy” rating on the stock in a research note on Thursday, May 1st. Two analysts have rated the stock with a Buy rating and one has given a Hold rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $23.00.

Deluxe Trading Down 0.8%

Shares of NYSE DLX opened at $19.8970 on Tuesday. The firm’s 50 day moving average price is $16.98 and its 200-day moving average price is $16.09. Deluxe Corporation has a 52-week low of $13.61 and a 52-week high of $24.45. The company has a debt-to-equity ratio of 2.24, a quick ratio of 0.85 and a current ratio of 0.94. The company has a market cap of $892.98 million, a PE ratio of 15.42, a P/E/G ratio of 0.55 and a beta of 1.49.

Deluxe (NYSE:DLX) last issued its earnings results on Wednesday, August 6th. The business services provider reported $0.88 earnings per share for the quarter, topping analysts’ consensus estimates of $0.71 by $0.17. The business had revenue of $521.30 million during the quarter, compared to analyst estimates of $526.93 million. Deluxe had a return on equity of 21.12% and a net margin of 2.75%.Deluxe’s revenue was down 3.1% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.86 EPS. On average, equities research analysts expect that Deluxe Corporation will post 2.77 EPS for the current fiscal year.

Deluxe Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 2nd. Investors of record on Monday, August 18th will be paid a dividend of $0.30 per share. The ex-dividend date is Monday, August 18th. This represents a $1.20 dividend on an annualized basis and a dividend yield of 6.0%. Deluxe’s payout ratio is 93.02%.

About Deluxe

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.