Bank of Montreal Can Increases Stake in Deluxe Co. (NYSE:DLX)

Bank of Montreal Can grew its holdings in Deluxe Co. (NYSE:DLX) by 8.7% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 16,231 shares of the business services provider’s stock after acquiring an additional 1,299 shares during the period. Bank of Montreal Can’s holdings in Deluxe were worth $365,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds have also modified their holdings of the company. Innealta Capital LLC purchased a new stake in Deluxe in the second quarter valued at $30,000. CWM LLC raised its position in Deluxe by 555.6% in the second quarter. CWM LLC now owns 1,757 shares of the business services provider’s stock worth $39,000 after acquiring an additional 1,489 shares in the last quarter. Security National Bank acquired a new stake in Deluxe in the second quarter valued at $40,000. Allspring Global Investments Holdings LLC acquired a new position in Deluxe during the first quarter worth about $46,000. Finally, Federated Hermes Inc. raised its holdings in Deluxe by 55.9% during the second quarter. Federated Hermes Inc. now owns 2,262 shares of the business services provider’s stock worth $51,000 after purchasing an additional 811 shares during the last quarter. 93.90% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at Deluxe

In other news, CEO Barry C. Mccarthy acquired 2,820 shares of the company’s stock in a transaction on Tuesday, September 10th. The stock was purchased at an average cost of $19.08 per share, with a total value of $53,805.60. Following the acquisition, the chief executive officer now owns 178,670 shares of the company’s stock, valued at $3,409,023.60. This trade represents a 0.00 % increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 4.23% of the stock is owned by insiders.

Deluxe Price Performance

Shares of Deluxe stock opened at $18.76 on Friday. The stock has a market capitalization of $826.30 million, a P/E ratio of 24.36, a PEG ratio of 0.58 and a beta of 1.47. The company has a current ratio of 0.97, a quick ratio of 0.87 and a debt-to-equity ratio of 2.44. Deluxe Co. has a twelve month low of $16.00 and a twelve month high of $24.87. The business’s fifty day moving average price is $19.55 and its 200 day moving average price is $20.99.

Deluxe (NYSE:DLX) last announced its quarterly earnings data on Wednesday, July 31st. The business services provider reported $0.86 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.57 by $0.29. The firm 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%. Deluxe’s revenue for the quarter was down 5.9% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.83 earnings per share. As a group, research analysts anticipate that Deluxe Co. will post 2.8 earnings per share for the current year.

Deluxe Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Tuesday, September 3rd. Shareholders of record on Monday, August 19th were paid a dividend of $0.30 per share. This represents a $1.20 dividend on an annualized basis and a yield of 6.40%. The ex-dividend date was Monday, August 19th. Deluxe’s dividend payout ratio is 155.84%.

Analyst Upgrades and Downgrades

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

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.