Advisors Asset Management Inc. Purchases 2,444 Shares of Deluxe Co. (NYSE:DLX)

Advisors Asset Management Inc. boosted its position in Deluxe Co. (NYSE:DLXGet Rating) by 14.6% during the second quarter, HoldingsChannel.com reports. The fund owned 19,178 shares of the business services provider’s stock after buying an additional 2,444 shares during the quarter. Advisors Asset Management Inc.’s holdings in Deluxe were worth $416,000 at the end of the most recent reporting period.

Other hedge funds have also added to or reduced their stakes in the company. Russell Investments Group Ltd. boosted its position in Deluxe by 44.4% in the first quarter. Russell Investments Group Ltd. now owns 656,594 shares of the business services provider’s stock valued at $19,853,000 after buying an additional 202,008 shares in the last quarter. Victory Capital Management Inc. boosted its position in Deluxe by 122.8% in the first quarter. Victory Capital Management Inc. now owns 332,927 shares of the business services provider’s stock valued at $9,016,000 after buying an additional 183,517 shares in the last quarter. Vanguard Group Inc. boosted its position in Deluxe by 1.6% in the first quarter. Vanguard Group Inc. now owns 4,638,914 shares of the business services provider’s stock valued at $140,281,000 after buying an additional 73,156 shares in the last quarter. State Street Corp boosted its position in Deluxe by 3.7% in the first quarter. State Street Corp now owns 1,619,059 shares of the business services provider’s stock valued at $48,960,000 after buying an additional 57,197 shares in the last quarter. Finally, Invesco Ltd. boosted its position in Deluxe by 33.7% in the first quarter. Invesco Ltd. now owns 223,272 shares of the business services provider’s stock valued at $6,752,000 after buying an additional 56,266 shares in the last quarter. 89.54% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of analysts have weighed in on the stock. Cowen cut their target price on shares of Deluxe to $32.00 in a research report on Thursday, October 13th. Cowen cut their price target on shares of Deluxe from $42.00 to $36.00 in a report on Friday, August 5th. Finally, StockNews.com began coverage on shares of Deluxe in a report on Wednesday, October 12th. They set a “buy” rating on the stock.

Deluxe Price Performance

Shares of NYSE:DLX opened at $18.79 on Friday. The firm has a market cap of $810.60 million, a PE ratio of 13.52 and a beta of 1.48. The firm’s fifty day moving average is $17.74 and its 200-day moving average is $20.95. The company has a debt-to-equity ratio of 2.67, a quick ratio of 0.86 and a current ratio of 0.94. Deluxe Co. has a 52 week low of $15.30 and a 52 week high of $37.53.

Deluxe Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, December 5th. Stockholders of record on Monday, November 21st will be issued a dividend of $0.30 per share. The ex-dividend date of this dividend is Friday, November 18th. This represents a $1.20 dividend on an annualized basis and a dividend yield of 6.39%. Deluxe’s dividend payout ratio (DPR) is presently 86.33%.

About Deluxe

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Deluxe Corporation provides technology-enabled solutions to enterprises, small businesses, and financial institutions in the United States, Canada, Australia, South America, and Europe. It operates through four segments: Payments, Cloud Solutions, Promotional Solutions, and Checks. The company provides treasury management solutions, including remittance and lockbox processing, remote deposit capture, receivables management, payment processing, and paperless treasury management solutions, as well as payment exchange, and fraud and security services; web hosting and design services, data-driven marketing solutions and hosted solutions, such as digital engagement, logo design, financial institution profitability reporting, and business incorporation services.

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Institutional Ownership by Quarter for Deluxe (NYSE:DLX)

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