Deluxe Corporation $DLX Stake Cut by Westside Investment Management Inc.

Westside Investment Management Inc. reduced its holdings in Deluxe Corporation (NYSE:DLX) by 13.9% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 38,210 shares of the business services provider’s stock after selling 6,160 shares during the period. Westside Investment Management Inc. owned about 0.09% of Deluxe worth $608,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently made changes to their positions in DLX. Strs Ohio purchased a new stake in shares of Deluxe during the 1st quarter worth about $30,000. GAMMA Investing LLC raised its stake in shares of Deluxe by 1,067.0% during the 1st quarter. GAMMA Investing LLC now owns 2,229 shares of the business services provider’s stock worth $35,000 after purchasing an additional 2,038 shares in the last quarter. Quarry LP raised its stake in shares of Deluxe by 105.8% during the 1st quarter. Quarry LP now owns 3,685 shares of the business services provider’s stock worth $58,000 after purchasing an additional 1,894 shares in the last quarter. Mitsubishi UFJ Asset Management Co. Ltd. raised its stake in shares of Deluxe by 11.2% during the 1st quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 7,874 shares of the business services provider’s stock worth $124,000 after purchasing an additional 790 shares in the last quarter. Finally, Burney Co. purchased a new stake in shares of Deluxe during the 1st quarter worth about $164,000. 93.90% of the stock is owned by hedge funds and other institutional investors.

Deluxe Stock Down 0.0%

Shares of DLX stock opened at $18.11 on Tuesday. The stock’s 50 day simple moving average is $19.10 and its 200 day simple moving average is $17.14. The company has a debt-to-equity ratio of 2.24, a quick ratio of 0.85 and a current ratio of 0.94. Deluxe Corporation has a twelve month low of $13.61 and a twelve month high of $24.45. The company has a market capitalization of $812.69 million, a price-to-earnings ratio of 14.04, a PEG ratio of 0.50 and a beta of 1.51.

Deluxe (NYSE:DLX) last issued its quarterly earnings data 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 business had revenue of $454.49 million for the quarter. As a group, research analysts predict that Deluxe Corporation will post 2.77 EPS for the current year.

Analysts Set New Price Targets

A number of equities research analysts have recently weighed in on the company. Wall Street Zen downgraded Deluxe from a “strong-buy” rating to a “buy” rating in a research note on Saturday, August 9th. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Deluxe in a research note on Wednesday, October 8th. Finally, Cowen reaffirmed a “buy” rating on shares of Deluxe in a research note on Thursday, August 7th. Two research analysts have rated the stock with a Buy rating and two have given a Hold rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $23.00.

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.