Point72 Asia Singapore Pte. Ltd. Invests $26,000 in Deluxe Co. (NYSE:DLX)

Point72 Asia Singapore Pte. Ltd. bought a new stake in Deluxe Co. (NYSE:DLX) during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund bought 1,173 shares of the business services provider’s stock, valued at approximately $26,000.

Several other hedge funds have also recently added to or reduced their stakes in the business. Innealta Capital LLC bought a new stake in shares of Deluxe in the 2nd quarter valued at approximately $30,000. CWM LLC boosted its stake in Deluxe by 555.6% in the 2nd quarter. CWM LLC now owns 1,757 shares of the business services provider’s stock valued at $39,000 after buying an additional 1,489 shares in the last quarter. Security National Bank acquired a new position in Deluxe during the second quarter worth $40,000. Allspring Global Investments Holdings LLC acquired a new position in Deluxe during the first quarter worth $46,000. Finally, Federated Hermes Inc. boosted its stake in shares of Deluxe by 55.9% in the 2nd quarter. Federated Hermes Inc. now owns 2,262 shares of the business services provider’s stock valued at $51,000 after purchasing an additional 811 shares in the last quarter. Institutional investors and hedge funds own 93.90% of the company’s stock.

Deluxe Stock Down 1.7 %

NYSE DLX opened at $19.15 on Wednesday. The stock’s 50 day simple moving average is $20.34 and its 200 day simple moving average is $21.06. Deluxe Co. has a one year low of $16.00 and a one year high of $24.87. The firm has a market cap of $843.48 million, a PE ratio of 24.87, a price-to-earnings-growth ratio of 0.58 and a beta of 1.47. The company has a debt-to-equity ratio of 2.44, a current ratio of 0.97 and a quick ratio of 0.87.

Deluxe (NYSE:DLX) last announced its earnings results on Wednesday, July 31st. The business services provider reported $0.86 EPS for the quarter, topping the consensus estimate of $0.57 by $0.29. The company had revenue of $537.80 million for the quarter, compared to analysts’ expectations of $537.90 million. Deluxe had a return on equity of 20.90% and a net margin of 1.78%. The business’s revenue for the quarter was down 5.9% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.83 earnings per share. As a group, sell-side analysts forecast that Deluxe Co. will post 2.8 earnings per share for the current fiscal year.

Deluxe Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, September 3rd. Shareholders of record on Monday, August 19th were paid a $0.30 dividend. This represents a $1.20 dividend on an annualized basis and a dividend yield of 6.27%. The ex-dividend date of this dividend was Monday, August 19th. Deluxe’s dividend payout ratio is presently 155.84%.

Analyst Upgrades and Downgrades

Separately, StockNews.com cut shares of Deluxe from a “strong-buy” rating to a “buy” rating in a research report on Tuesday, August 6th.

Insider Transactions at Deluxe

In related news, CEO Barry C. Mccarthy purchased 2,820 shares of the stock in a transaction that occurred on Tuesday, September 10th. The stock was acquired at an average price of $19.08 per share, with a total value of $53,805.60. Following the completion of the acquisition, the chief executive officer now directly owns 178,670 shares in the company, valued at approximately $3,409,023.60. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 4.23% of the stock is owned by company insiders.

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.