Deluxe (NYSE:DLX) Coverage Initiated at Northcoast Research

Stock analysts at Northcoast Research initiated coverage on shares of Deluxe (NYSE:DLX) in a report issued on Friday, Briefing.com reports. The firm set a “buy” rating and a $27.00 price target on the business services provider’s stock. Northcoast Research’s target price would suggest a potential upside of 42.48% from the stock’s previous close.

Deluxe Price Performance

Deluxe stock opened at $18.95 on Friday. Deluxe has a 52 week low of $13.61 and a 52 week high of $21.97. The company’s 50 day moving average price is $19.68 and its two-hundred day moving average price is $19.31. The company has a quick ratio of 0.88, a current ratio of 0.93 and a debt-to-equity ratio of 2.49. The stock has a market cap of $830.96 million, a P/E ratio of 32.12, a P/E/G ratio of 0.56 and a beta of 1.49.

Deluxe (NYSE:DLX) last posted its earnings results on Thursday, February 1st. The business services provider reported $0.80 EPS for the quarter, topping the consensus estimate of $0.75 by $0.05. The firm had revenue of $537.40 million for the quarter, compared to analysts’ expectations of $537.80 million. Deluxe had a net margin of 1.20% and a return on equity of 21.53%. The company’s quarterly revenue was down 4.7% compared to the same quarter last year. During the same quarter last year, the firm earned $0.98 EPS. On average, equities analysts predict that Deluxe will post 2.78 earnings per share for the current year.

Insider Buying and Selling

In related news, CEO Barry C. Mccarthy purchased 2,666 shares of the stock in a transaction that occurred on Wednesday, March 13th. The shares were bought at an average price of $19.25 per share, with a total value of $51,320.50. Following the acquisition, the chief executive officer now owns 173,410 shares of the company’s stock, valued at approximately $3,338,142.50. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. 4.23% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Deluxe

A number of hedge funds have recently modified their holdings of DLX. Envestnet Asset Management Inc. purchased a new position in Deluxe in the 1st quarter valued at approximately $209,000. PNC Financial Services Group Inc. grew its stake in Deluxe by 19.1% in the 1st quarter. PNC Financial Services Group Inc. now owns 3,061 shares of the business services provider’s stock valued at $93,000 after buying an additional 491 shares in the last quarter. MetLife Investment Management LLC grew its stake in Deluxe by 58.1% in the 1st quarter. MetLife Investment Management LLC now owns 22,763 shares of the business services provider’s stock valued at $688,000 after buying an additional 8,367 shares in the last quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS grew its stake in Deluxe by 14.1% in the 1st quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 36,730 shares of the business services provider’s stock valued at $1,111,000 after buying an additional 4,528 shares in the last quarter. Finally, Great West Life Assurance Co. Can grew its stake in Deluxe by 2.3% in the 1st quarter. Great West Life Assurance Co. Can now owns 38,689 shares of the business services provider’s stock valued at $1,202,000 after buying an additional 863 shares in the last quarter. Institutional investors own 93.90% of the company’s stock.

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.