Deluxe (NYSE:DLX) Downgraded to Buy Rating by StockNews.com

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

Deluxe Trading Up 1.3 %

Shares of DLX opened at $23.24 on Thursday. Deluxe has a 1-year low of $17.60 and a 1-year high of $24.87. The company has a market capitalization of $1.03 billion, a P/E ratio of 18.74, a P/E/G ratio of 0.64 and a beta of 1.46. The company has a debt-to-equity ratio of 2.38, a current ratio of 0.92 and a quick ratio of 0.83. The firm’s 50 day simple moving average is $20.16 and its 200 day simple moving average is $21.14.

Insider Buying and Selling

In other news, CEO Barry C. Mccarthy purchased 2,820 shares of the company’s stock in a transaction on Tuesday, September 10th. The stock was purchased at an average price of $19.08 per share, with a total value of $53,805.60. Following the completion of the purchase, the chief executive officer now directly owns 178,670 shares in the company, valued at approximately $3,409,023.60. This trade represents a 1.60 % increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. 4.23% of the stock is owned by company insiders.

Hedge Funds Weigh In On Deluxe

A number of large investors have recently modified their holdings of the company. SG Americas Securities LLC purchased a new position in shares of Deluxe during the first quarter worth approximately $111,000. State Board of Administration of Florida Retirement System grew its holdings in shares of Deluxe by 14.0% during the 1st quarter. State Board of Administration of Florida Retirement System now owns 14,169 shares of the business services provider’s stock valued at $292,000 after purchasing an additional 1,740 shares during the last quarter. Mitsubishi UFJ Trust & Banking Corp raised its position in Deluxe by 19.0% in the 1st quarter. Mitsubishi UFJ Trust & Banking Corp now owns 33,624 shares of the business services provider’s stock worth $679,000 after purchasing an additional 5,365 shares during the period. Vanguard Group Inc. lifted its stake in Deluxe by 3.4% in the first quarter. Vanguard Group Inc. now owns 5,167,850 shares of the business services provider’s stock worth $106,406,000 after purchasing an additional 171,998 shares during the last quarter. Finally, Lazard Asset Management LLC boosted its position in Deluxe by 10.7% during the first quarter. Lazard Asset Management LLC now owns 12,532 shares of the business services provider’s stock valued at $257,000 after buying an additional 1,211 shares during the period. 93.90% of the stock is owned by hedge funds and other 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.