Deluxe (NYSE:DLX) Share Price Passes Above Two Hundred Day Moving Average – Here’s Why

Deluxe Corporation (NYSE:DLX)’s share price passed above its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of $20.71 and traded as high as $27.64. Deluxe shares last traded at $26.27, with a volume of 398,640 shares trading hands.

Analyst Upgrades and Downgrades

A number of equities analysts have recently commented on DLX shares. Weiss Ratings upgraded shares of Deluxe from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Tuesday. Wall Street Zen raised Deluxe from a “buy” rating to a “strong-buy” rating in a research report on Saturday, November 8th. CJS Securities raised Deluxe to a “hold” rating in a research report on Thursday, December 11th. Finally, Zacks Research upgraded Deluxe from a “hold” rating to a “strong-buy” rating in a research note on Monday, February 2nd. One research analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating and one has given a Hold rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Buy” and a consensus price target of $23.00.

Deluxe Trading Down 3.5%

The company has a debt-to-equity ratio of 2.04, a current ratio of 1.00 and a quick ratio of 0.91. The business has a 50-day simple moving average of $23.76 and a two-hundred day simple moving average of $20.71. The stock has a market cap of $1.18 billion, a price-to-earnings ratio of 13.97, a P/E/G ratio of 0.67 and a beta of 1.41.

Deluxe Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, February 23rd. Investors of record on Monday, February 9th will be paid a $0.30 dividend. This represents a $1.20 dividend on an annualized basis and a yield of 4.6%. The ex-dividend date is Monday, February 9th. Deluxe’s dividend payout ratio is 63.83%.

Hedge Funds Weigh In On Deluxe

Several institutional investors and hedge funds have recently modified their holdings of DLX. Prudential Financial Inc. grew its holdings in Deluxe by 18.3% in the 2nd quarter. Prudential Financial Inc. now owns 736,679 shares of the business services provider’s stock valued at $11,721,000 after buying an additional 113,886 shares in the last quarter. SG Americas Securities LLC bought a new stake in shares of Deluxe in the third quarter valued at about $512,000. Teacher Retirement System of Texas acquired a new position in shares of Deluxe in the second quarter valued at about $1,577,000. CWM LLC increased its position in Deluxe by 2,242.2% during the second quarter. CWM LLC now owns 20,049 shares of the business services provider’s stock worth $319,000 after acquiring an additional 19,193 shares during the period. Finally, Geode Capital Management LLC raised its stake in Deluxe by 1.4% in the 2nd quarter. Geode Capital Management LLC now owns 1,061,173 shares of the business services provider’s stock worth $16,885,000 after purchasing an additional 14,160 shares in the last quarter. 93.90% of the stock is currently owned by institutional investors and hedge funds.

Deluxe Company Profile

Deluxe Corporation, founded in 1915 and headquartered in Shoreview, Minnesota, is a provider of integrated business and financial technology solutions. Originally established as a check printing company, Deluxe has evolved its offerings to support small businesses, financial institutions and entrepreneurs with a comprehensive suite of services spanning print, digital and software platforms.

The company’s core business activities include printing checks, forms and promotional materials, as well as delivering digital marketing and customer engagement solutions.