Deluxe Co. (NYSE: DLX – Get Rating) saw a notable increase in short interest in October. Short interest totaled 1,910,000 shares as of October 15, an increase of 9.1% from 1,750,000 shares on September 30. Based on the average daily trading volume of 263,900 shares, the average daily coverage ratio was 7.2 days.
Institutional Trading at Deluxe
Some large investors have recently adjusted their positions in DLX. Bailard Inc. added 18.3% to its Deluxe stake in the first quarter. Bailard Inc. now owns 9,700 shares of the business services provider’s stock, valued at $293,000, after buying an additional 1,500 shares last quarter. Disciplined Growth Investors Inc. MN added 1.6% to Deluxe in the first quarter. Disciplined Growth Investors Inc. MN now owns 840,435 shares of the business services provider stock, valued at $25,415,000, after purchasing an additional 12,944 shares in the previous quarter. Russell Investments Group Ltd increased its stake in Deluxe by 44.4% in the first quarter. Russell Investments Group Ltd. now owns 656,594 shares of the business services provider worth $19,853,000 after purchasing an additional 202,008 shares in the previous quarter. The Swiss National Bank increased its holdings of Deluxe by 8.0% in the first quarter. The Swiss National Bank now owns 100,700 shares of the business services provider’s stock, worth $3,045,000, after buying an additional 7,500 shares in the previous quarter. Finally, Cypress Capital LLC increased its position in Deluxe stock by 13.9% in the first quarter. Cypress Capital LLC now owns 15,841 shares of the business service provider’s stock, valued at $479,000, after buying an additional 1,939 shares in the previous quarter. 89.54% of the stock is currently held by hedge funds and other institutional investors.
Wall Street analysts predict growth
Several analysts have weighed in on the stock recently. Cowen lowered his price target on Deluxe stock to $36.00 from $42.00 in a report on Friday, Aug. 5. StockNews.com hypothesized Deluxe’s coverage in its Wednesday, October 12 research report. They have a “buy” rating on the company. Finally, Cowen lowered its price target on Deluxe to $32.00 in a research note on Thursday, October 13.
Luxury shares rose 4.0%
DLX stock was up 70 cents at $18.18 in Friday trade. The company’s stock was traded at 210,067 shares, compared to its average volume of 264,939 shares. Deluxe has a 1-year low of $15.30 and a 1-year high of $38.44. The stock’s 50-day moving average is $17.90 and its 200-day moving average is $21.93. The company has a market cap of $783.19 million, a price-to-earnings ratio of 13.67, and a beta of 1.47. The company’s gearing ratio is 2.71, its current ratio is 0.95, and its quick ratio is 0.88.
Deluxe (NYSE: DLX – Get Rating) last reported quarterly earnings results on Thursday, Aug. 4. The business services provider reported earnings per share of $0.90 for the quarter. The business reported revenue of $563 million for the quarter, compared with the consensus estimate of $528.25 million. Deluxe’s net profit margin was 2.61% and return on equity was 30.24%. The company’s quarterly revenue rose 17.7% from a year earlier. In the same quarter last year, the company reported earnings of $1.25 per share.
Luxurious Dividend Announcement
The company also recently disclosed a quarterly dividend, which was paid on Tuesday, September 6. Shareholders of record on Monday, August 22 received a dividend of $0.30 per share. This translates to an annualized dividend of $1.20 and a dividend yield of 6.60%. The ex-dividend date is Friday, August 19. Deluxe currently has a payout ratio of 90.23%.
Luxury Company Profile
(get a rating)
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, Cloud Solutions, Promotional Solutions, and Checks. Company provides treasury management solutions, including remittance and lockbox processing, remote deposit capture, accounts receivable management, payment processing and paperless treasury management solutions, as well as payment exchange, fraud and security services; web hosting and design services, data Driven marketing solutions and hosted solutions such as digital engagement, logo design, financial institution earnings reporting and business registration services.
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