StockNews.com Downgrades Deluxe (NYSE:DLX) to Buy

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

Deluxe Price Performance

Shares of NYSE:DLX opened at $23.24 on Thursday. Deluxe has a fifty-two week low of $17.60 and a fifty-two week high of $24.87. The company’s 50-day moving average is $20.16 and its 200 day moving average is $21.14. The company has a debt-to-equity ratio of 2.38, a quick ratio of 0.83 and a current ratio of 0.92. The company has a market capitalization of $1.03 billion, a P/E ratio of 18.74, a price-to-earnings-growth ratio of 0.64 and a beta of 1.46.

Insiders Place Their Bets

In related news, CEO Barry C. Mccarthy bought 2,820 shares of the company’s stock in a transaction on Tuesday, September 10th. The shares were purchased at an average price of $19.08 per share, for a total transaction of $53,805.60. Following the completion of the transaction, the chief executive officer now directly owns 178,670 shares in the company, valued at approximately $3,409,023.60. The trade was a 1.60 % increase in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Company insiders own 4.23% of the company’s stock.

Institutional Trading of Deluxe

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Geode Capital Management LLC grew its holdings in Deluxe by 1.7% during the 3rd quarter. Geode Capital Management LLC now owns 1,028,079 shares of the business services provider’s stock valued at $20,041,000 after buying an additional 17,583 shares in the last quarter. Barclays PLC boosted its position in shares of Deluxe by 73.2% in the third quarter. Barclays PLC now owns 148,447 shares of the business services provider’s stock valued at $2,893,000 after acquiring an additional 62,715 shares during the period. Jane Street Group LLC grew its stake in Deluxe by 10.0% during the third quarter. Jane Street Group LLC now owns 115,280 shares of the business services provider’s stock valued at $2,247,000 after acquiring an additional 10,447 shares in the last quarter. State Street Corp increased its holdings in Deluxe by 1.1% during the 3rd quarter. State Street Corp now owns 1,695,132 shares of the business services provider’s stock worth $33,038,000 after acquiring an additional 18,133 shares during the period. Finally, Quarry LP lifted its stake in Deluxe by 2,770.0% in the 3rd quarter. Quarry LP now owns 6,314 shares of the business services provider’s stock worth $123,000 after purchasing an additional 6,094 shares in the last quarter. 93.90% of the stock is currently owned by institutional investors.

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.