Bank of New York Mellon Corp Acquires 27,111 Shares of Deluxe Co. (NYSE:DLX)

Bank of New York Mellon Corp boosted its holdings in shares of Deluxe Co. (NYSE:DLX) by 3.4% in the 2nd quarter, Holdings Channel.com reports. The institutional investor owned 813,712 shares of the business services provider’s stock after buying an additional 27,111 shares during the period. Bank of New York Mellon Corp’s holdings in Deluxe were worth $18,276,000 at the end of the most recent reporting period.

Several other large investors also recently added to or reduced their stakes in DLX. CWM LLC lifted its stake in Deluxe by 555.6% during the second quarter. CWM LLC now owns 1,757 shares of the business services provider’s stock worth $39,000 after purchasing an additional 1,489 shares during the last quarter. Security National Bank purchased a new position in shares of Deluxe in the second quarter worth about $40,000. Allspring Global Investments Holdings LLC purchased a new position in shares of Deluxe in the first quarter worth about $46,000. SG Americas Securities LLC purchased a new position in shares of Deluxe in the first quarter worth about $111,000. Finally, EMC Capital Management increased its holdings in shares of Deluxe by 10.7% in the first quarter. EMC Capital Management now owns 5,417 shares of the business services provider’s stock worth $112,000 after buying an additional 522 shares during the period. Institutional investors own 93.90% of the company’s stock.

Deluxe Stock Down 3.4 %

Shares of NYSE:DLX opened at $19.11 on Friday. Deluxe Co. has a 1 year low of $16.00 and a 1 year high of $24.87. The stock’s 50-day moving average is $21.35 and its 200 day moving average is $21.02. The company has a debt-to-equity ratio of 2.44, a current ratio of 0.97 and a quick ratio of 0.87. The company has a market cap of $841.50 million, a PE ratio of 24.81, a P/E/G ratio of 0.61 and a beta of 1.47.

Deluxe (NYSE:DLX) last posted its earnings results on Wednesday, July 31st. The business services provider reported $0.86 earnings per share for the quarter, topping analysts’ consensus estimates of $0.57 by $0.29. Deluxe had a return on equity of 20.90% and a net margin of 1.78%. The firm had revenue of $537.80 million for the quarter, compared to the consensus estimate of $537.90 million. During the same quarter in the prior year, the business earned $0.83 EPS. The business’s revenue for the quarter was down 5.9% on a year-over-year basis. Sell-side analysts anticipate that Deluxe Co. will post 2.8 EPS for the current year.

Deluxe Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, September 3rd. Shareholders of record on Monday, August 19th were issued a dividend of $0.30 per share. The ex-dividend date of this dividend was Monday, August 19th. This represents a $1.20 dividend on an annualized basis and a dividend yield of 6.28%. Deluxe’s dividend payout ratio (DPR) is 155.84%.

Insiders Place Their Bets

In other news, CEO Barry C. Mccarthy bought 2,440 shares of Deluxe stock in a transaction on Monday, June 10th. The shares were purchased at an average price of $21.63 per share, for a total transaction of $52,777.20. Following the acquisition, the chief executive officer now owns 175,850 shares of the company’s stock, valued at $3,803,635.50. The acquisition was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Company insiders own 4.23% of the company’s stock.

Analysts Set New Price Targets

Several research firms have recently commented on DLX. StockNews.com downgraded Deluxe from a “strong-buy” rating to a “buy” rating in a report on Tuesday, August 6th. TD Cowen boosted their price target on Deluxe from $33.00 to $35.00 and gave the company a “buy” rating in a report on Tuesday, May 14th.

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.