Deluxe (NYSE:DLX) Stock Price Up 21.7% After Earnings Beat

Shares of Deluxe Corporation (NYSE:DLX) rose 21.7% during trading on Thursday following a stronger than expected earnings report. The company traded as high as $22.40 and last traded at $22.13. Approximately 335,329 shares traded hands during mid-day trading, a decline of 6% from the average daily volume of 356,192 shares. The stock had previously closed at $18.19.

The business services provider reported $1.38 earnings per share 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 during the quarter.

Deluxe Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, December 1st. Shareholders of record on Monday, November 17th will be given a dividend of $0.30 per share. This represents a $1.20 dividend on an annualized basis and a yield of 5.4%. The ex-dividend date of this dividend is Monday, November 17th. Deluxe’s dividend payout ratio (DPR) is presently 93.02%.

Analysts Set New Price Targets

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

Hedge Funds Weigh In On Deluxe

Hedge funds and other institutional investors have recently bought and sold shares of the company. Strs Ohio acquired a new position in Deluxe during the first quarter worth $30,000. Raymond James Financial Inc. acquired a new position in Deluxe during the second quarter worth $31,000. GAMMA Investing LLC raised its holdings in Deluxe by 1,067.0% during the first quarter. GAMMA Investing LLC now owns 2,229 shares of the business services provider’s stock worth $35,000 after purchasing an additional 2,038 shares during the last quarter. Quarry LP raised its holdings in Deluxe by 105.8% during the first quarter. Quarry LP now owns 3,685 shares of the business services provider’s stock worth $58,000 after purchasing an additional 1,894 shares during the last quarter. Finally, Federated Hermes Inc. increased its position in Deluxe by 110.6% during the third quarter. Federated Hermes Inc. now owns 3,089 shares of the business services provider’s stock worth $60,000 after buying an additional 1,622 shares in the last quarter. 93.90% of the stock is owned by institutional investors and hedge funds.

Deluxe Stock Up 21.4%

The company has a debt-to-equity ratio of 2.24, a current ratio of 0.94 and a quick ratio of 0.85. The firm has a 50-day simple moving average of $19.04 and a two-hundred day simple moving average of $17.17. The company has a market cap of $991.29 million, a PE ratio of 17.15, a P/E/G ratio of 0.50 and a beta of 1.47.

Deluxe Company 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.