Connor Clark & Lunn Investment Management Ltd. Has $4.53 Million Stock Position in Deluxe Corporation $DLX

Connor Clark & Lunn Investment Management Ltd. lifted its stake in shares of Deluxe Corporation (NYSE:DLX) by 27.9% in the 2nd quarter, Holdings Channel reports. The institutional investor owned 284,415 shares of the business services provider’s stock after purchasing an additional 61,984 shares during the quarter. Connor Clark & Lunn Investment Management Ltd.’s holdings in Deluxe were worth $4,525,000 at the end of the most recent reporting period.

A number of other large investors also recently modified their holdings of DLX. Strs Ohio bought a new stake in Deluxe during the 1st quarter worth $30,000. Quarry LP boosted its stake in shares of Deluxe by 105.8% during the first quarter. Quarry LP now owns 3,685 shares of the business services provider’s stock valued at $58,000 after purchasing an additional 1,894 shares in the last quarter. Mitsubishi UFJ Asset Management Co. Ltd. boosted its stake in shares of Deluxe by 11.2% during the first quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 7,874 shares of the business services provider’s stock valued at $124,000 after purchasing an additional 790 shares in the last quarter. Burney Co. bought a new stake in shares of Deluxe during the first quarter worth about $164,000. Finally, PharVision Advisers LLC acquired a new position in shares of Deluxe in the first quarter valued at approximately $173,000. 93.90% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several equities research analysts recently commented on DLX shares. Cowen reiterated a “buy” rating on shares of Deluxe in a research report on Thursday, August 7th. Wall Street Zen raised shares of Deluxe from a “buy” rating to a “strong-buy” rating in a research note on Saturday, November 8th. Finally, Weiss Ratings restated a “hold (c)” rating on shares of Deluxe in a report on Wednesday, October 8th. Two equities research analysts have rated the stock with a Buy rating and two have given a Hold rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $23.00.

Deluxe Price Performance

Shares of NYSE DLX opened at $20.38 on Friday. The company has a market capitalization of $917.26 million, a PE ratio of 15.80, a P/E/G ratio of 0.50 and a beta of 1.47. The company has a quick ratio of 0.85, a current ratio of 0.94 and a debt-to-equity ratio of 2.24. Deluxe Corporation has a twelve month low of $13.61 and a twelve month high of $24.30. The firm has a fifty day simple moving average of $19.19 and a 200 day simple moving average of $17.39.

Deluxe (NYSE:DLX) last issued its quarterly earnings results on Wednesday, March 23rd. 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 firm had revenue of $454.49 million during the quarter. On average, sell-side analysts forecast that Deluxe Corporation will post 2.77 EPS for the current year.

Deluxe Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, December 1st. Shareholders of record on Monday, November 17th will be issued a $0.30 dividend. This represents a $1.20 dividend on an annualized basis and a yield of 5.9%. The ex-dividend date is Monday, November 17th. Deluxe’s payout ratio is presently 65.57%.

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.