Deluxe Corporation (NYSE:DLX) Position Reduced by Bank of America Corp DE

Bank of America Corp DE lowered its position in shares of Deluxe Corporation (NYSE:DLX) by 37.6% during the first quarter, Holdings Channel reports. The fund owned 41,190 shares of the business services provider’s stock after selling 24,855 shares during the period. Bank of America Corp DE’s holdings in Deluxe Corporation were worth $2,972,000 as of its most recent filing with the SEC.

Other large investors have also recently added to or reduced their stakes in the company. Flinton Capital Management LLC raised its stake in Deluxe Corporation by 9.2% in the first quarter. Flinton Capital Management LLC now owns 1,520 shares of the business services provider’s stock worth $110,000 after buying an additional 128 shares during the last quarter. TrimTabs Asset Management LLC raised its stake in Deluxe Corporation by 89.0% in the first quarter. TrimTabs Asset Management LLC now owns 1,580 shares of the business services provider’s stock worth $114,000 after buying an additional 744 shares during the last quarter. Meadow Creek Investment Management LLC raised its stake in Deluxe Corporation by 9.2% in the first quarter. Meadow Creek Investment Management LLC now owns 2,090 shares of the business services provider’s stock worth $151,000 after buying an additional 176 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank raised its stake in Deluxe Corporation by 64.3% in the first quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 2,136 shares of the business services provider’s stock worth $154,000 after buying an additional 836 shares during the last quarter. Finally, Glen Harbor Capital Management LLC raised its stake in Deluxe Corporation by 9.2% in the first quarter. Glen Harbor Capital Management LLC now owns 2,660 shares of the business services provider’s stock worth $192,000 after buying an additional 224 shares during the last quarter. 93.25% of the stock is owned by institutional investors and hedge funds.

Deluxe Corporation (DLX) traded up 0.19% on Tuesday, reaching $69.78. 20,027 shares of the company’s stock were exchanged. Deluxe Corporation has a 12 month low of $59.47 and a 12 month high of $75.94. The stock has a market capitalization of $3.37 billion, a PE ratio of 14.93 and a beta of 1.35. The firm has a 50 day moving average of $70.33 and a 200 day moving average of $71.29.

Deluxe Corporation (NYSE:DLX) last announced its earnings results on Thursday, July 27th. The business services provider reported $1.29 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $1.24 by $0.05. Deluxe Corporation had a net margin of 11.98% and a return on equity of 27.83%. The business had revenue of $485.20 million for the quarter, compared to analyst estimates of $479.42 million. During the same quarter in the previous year, the firm posted $1.20 earnings per share. Deluxe Corporation’s revenue was up 7.7% compared to the same quarter last year. Equities analysts predict that Deluxe Corporation will post $5.25 earnings per share for the current fiscal year.

The business also recently announced a quarterly dividend, which will be paid on Tuesday, September 5th. Investors of record on Monday, August 21st will be given a dividend of $0.30 per share. This represents a $1.20 dividend on an annualized basis and a yield of 1.72%. The ex-dividend date of this dividend is Thursday, August 17th. Deluxe Corporation’s dividend payout ratio (DPR) is currently 25.64%.

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A number of research analysts have commented on DLX shares. BidaskClub upgraded shares of Deluxe Corporation from a “sell” rating to a “hold” rating in a research note on Tuesday, July 11th. Zacks Investment Research upgraded shares of Deluxe Corporation from a “hold” rating to a “buy” rating and set a $81.00 price objective on the stock in a research note on Tuesday, May 2nd.

In related news, Director Ronald C. Baldwin sold 2,000 shares of the business’s stock in a transaction on Monday, July 31st. The shares were sold at an average price of $72.41, for a total transaction of $144,820.00. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, VP John D. Filby sold 18,936 shares of the business’s stock in a transaction on Monday, July 31st. The stock was sold at an average price of $72.21, for a total transaction of $1,367,368.56. Following the transaction, the vice president now directly owns 46,154 shares in the company, valued at approximately $3,332,780.34. The disclosure for this sale can be found here. Insiders own 2.40% of the company’s stock.

Deluxe Corporation Company Profile

Deluxe Corporation is a provider of payment solutions. The Company provides a suite of customer life cycle management solutions to its customers across multiple channels. The Company operates in three segments: Small Business Services segment, Financial Services segment and Direct Checks segment. The Company’s product and service offerings consist of checks, forms and accessories, and other products.

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Institutional Ownership by Quarter for Deluxe Corporation (NYSE:DLX)

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