Victory Capital Management Inc. Sells 1,283 Shares of Deluxe Co. (NYSE:DLX)

Victory Capital Management Inc. trimmed its position in Deluxe Co. (NYSE:DLX) by 1.3% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 94,549 shares of the business services provider’s stock after selling 1,283 shares during the quarter. Victory Capital Management Inc.’s holdings in Deluxe were worth $2,124,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds also recently made changes to their positions in the company. Vanguard Group Inc. boosted its position in Deluxe by 3.4% during the 1st quarter. Vanguard Group Inc. now owns 5,167,850 shares of the business services provider’s stock valued at $106,406,000 after buying an additional 171,998 shares during the period. LSV Asset Management boosted its holdings in shares of Deluxe by 2.4% during the first quarter. LSV Asset Management now owns 2,090,671 shares of the business services provider’s stock worth $43,047,000 after purchasing an additional 48,067 shares during the period. Dimensional Fund Advisors LP grew its stake in shares of Deluxe by 8.0% in the fourth quarter. Dimensional Fund Advisors LP now owns 1,750,481 shares of the business services provider’s stock worth $37,548,000 after purchasing an additional 130,357 shares during the last quarter. Bank of New York Mellon Corp increased its holdings in Deluxe by 3.4% during the 2nd quarter. Bank of New York Mellon Corp now owns 813,712 shares of the business services provider’s stock valued at $18,276,000 after purchasing an additional 27,111 shares during the period. Finally, Russell Investments Group Ltd. raised its position in Deluxe by 6.6% during the 1st quarter. Russell Investments Group Ltd. now owns 584,592 shares of the business services provider’s stock valued at $12,037,000 after purchasing an additional 36,133 shares during the last quarter. 93.90% of the stock is owned by hedge funds and other institutional investors.

Deluxe Price Performance

Shares of NYSE DLX opened at $19.73 on Wednesday. The company has a debt-to-equity ratio of 2.44, a current ratio of 0.97 and a quick ratio of 0.87. Deluxe Co. has a 1 year low of $16.00 and a 1 year high of $24.87. The company’s 50-day moving average is $21.03 and its 200 day moving average is $21.04. The stock has a market capitalization of $869.03 million, a P/E ratio of 25.62, a P/E/G ratio of 0.56 and a beta of 1.47.

Deluxe (NYSE:DLX) last announced its earnings results on Wednesday, July 31st. The business services provider reported $0.86 earnings per share (EPS) for the quarter, topping the consensus estimate 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 during the quarter, compared to analyst estimates of $537.90 million. During the same quarter in the prior year, the company earned $0.83 EPS. The business’s revenue was down 5.9% compared to the same quarter last year. On average, sell-side analysts expect that Deluxe Co. will post 2.8 earnings per share for the current year.

Deluxe Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Tuesday, September 3rd. Stockholders of record on Monday, August 19th were issued a dividend of $0.30 per share. This represents a $1.20 dividend on an annualized basis and a dividend yield of 6.08%. The ex-dividend date of this dividend was Monday, August 19th. Deluxe’s dividend payout ratio (DPR) is presently 155.84%.

Analyst Ratings Changes

Separately, StockNews.com cut Deluxe from a “strong-buy” rating to a “buy” rating in a research note on Tuesday, August 6th.

Insider Buying and Selling

In other Deluxe news, CEO Barry C. Mccarthy acquired 2,820 shares of the company’s stock in a transaction that occurred on Tuesday, September 10th. The shares were acquired at an average price of $19.08 per share, with a total value of $53,805.60. Following the completion of the purchase, the chief executive officer now directly owns 178,670 shares of the company’s stock, valued at approximately $3,409,023.60. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. 4.23% of the stock is owned by company insiders.

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.