Sequoia Financial Advisors LLC Cuts Stock Position in Deluxe Corporation $DLX

Sequoia Financial Advisors LLC cut its holdings in Deluxe Corporation (NYSE:DLX) by 6.4% in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 58,417 shares of the business services provider’s stock after selling 3,971 shares during the quarter. Sequoia Financial Advisors LLC owned 0.13% of Deluxe worth $929,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also made changes to their positions in the company. GAMMA Investing LLC boosted its stake in shares of Deluxe by 1,067.0% in the first quarter. GAMMA Investing LLC now owns 2,229 shares of the business services provider’s stock worth $35,000 after acquiring an additional 2,038 shares during the last quarter. Security National Bank boosted its stake in shares of Deluxe by 97.8% in the first quarter. Security National Bank now owns 3,567 shares of the business services provider’s stock worth $56,000 after acquiring an additional 1,764 shares during the last quarter. Principal Financial Group Inc. boosted its stake in shares of Deluxe by 2.7% in the first quarter. Principal Financial Group Inc. now owns 220,472 shares of the business services provider’s stock worth $3,486,000 after acquiring an additional 5,782 shares during the last quarter. Bailard Inc. boosted its stake in shares of Deluxe by 46.5% in the first quarter. Bailard Inc. now owns 18,020 shares of the business services provider’s stock worth $285,000 after acquiring an additional 5,720 shares during the last quarter. Finally, Universal Beteiligungs und Servicegesellschaft mbH boosted its stake in shares of Deluxe by 6.6% in the first quarter. Universal Beteiligungs und Servicegesellschaft mbH now owns 121,021 shares of the business services provider’s stock worth $1,913,000 after acquiring an additional 7,472 shares during the last quarter. 93.90% of the stock is currently owned by hedge funds and other institutional investors.

Deluxe Price Performance

NYSE:DLX opened at $18.02 on Friday. Deluxe Corporation has a 52 week low of $13.61 and a 52 week high of $24.45. The company has a quick ratio of 0.85, a current ratio of 0.94 and a debt-to-equity ratio of 2.24. The company has a market capitalization of $808.74 million, a P/E ratio of 13.97, a P/E/G ratio of 0.49 and a beta of 1.51. The stock’s fifty day moving average is $19.25 and its two-hundred day moving average is $16.80.

Deluxe (NYSE:DLX) last posted its earnings results on Wednesday, March 23rd. The business services provider reported $1.38 EPS for the quarter. Deluxe had a return on equity of 21.12% and a net margin of 2.75%.The company had revenue of $454.49 million for the quarter. Equities analysts expect that Deluxe Corporation will post 2.77 EPS for the current year.

Deluxe Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Tuesday, September 2nd. Shareholders of record on Monday, August 18th were given a $0.30 dividend. The ex-dividend date was Monday, August 18th. This represents a $1.20 dividend on an annualized basis and a yield of 6.7%. Deluxe’s payout ratio is currently 93.02%.

Analyst Upgrades and Downgrades

DLX has been the topic of a number of research analyst reports. Cowen reaffirmed a “buy” rating on shares of Deluxe in a research note on Thursday, August 7th. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Deluxe in a research note on Wednesday, October 8th. Finally, Wall Street Zen lowered Deluxe from a “strong-buy” rating to a “buy” rating in a research note on Saturday, August 9th. Two research analysts have rated the stock with a Buy rating and two have given a Hold rating to the company’s stock. According to data from MarketBeat, Deluxe currently has a consensus rating of “Moderate Buy” and an average price target of $23.00.

Deluxe Profile

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.