Westside Investment Management Inc. Invests $760,000 in Deluxe Co. (NYSE:DLX)

Westside Investment Management Inc. purchased a new position in shares of Deluxe Co. (NYSE:DLX) during the 2nd quarter, Holdings Channel.com reports. The institutional investor purchased 18,715 shares of the business services provider’s stock, valued at approximately $760,000.

Other institutional investors and hedge funds have also modified their holdings of the company. Principal Financial Group Inc. increased its stake in shares of Deluxe by 4.6% during the fourth quarter. Principal Financial Group Inc. now owns 250,503 shares of the business services provider’s stock worth $9,630,000 after buying an additional 11,073 shares during the period. Municipal Employees Retirement System of Michigan purchased a new stake in shares of Deluxe during the fourth quarter worth approximately $440,000. Amundi Pioneer Asset Management Inc. increased its stake in shares of Deluxe by 10.4% during the fourth quarter. Amundi Pioneer Asset Management Inc. now owns 35,975 shares of the business services provider’s stock worth $1,383,000 after buying an additional 3,392 shares during the period. Jane Street Group LLC increased its stake in shares of Deluxe by 4.6% during the fourth quarter. Jane Street Group LLC now owns 7,512 shares of the business services provider’s stock worth $289,000 after buying an additional 330 shares during the period. Finally, Thrivent Financial for Lutherans increased its stake in shares of Deluxe by 2.7% during the fourth quarter. Thrivent Financial for Lutherans now owns 11,843 shares of the business services provider’s stock worth $455,000 after buying an additional 314 shares during the period. 89.79% of the stock is currently owned by institutional investors and hedge funds.

Shares of DLX traded down $1.26 during mid-day trading on Monday, reaching $42.23. 9,187 shares of the company’s stock were exchanged, compared to its average volume of 285,082. The company has a quick ratio of 1.08, a current ratio of 1.27 and a debt-to-equity ratio of 1.10. The stock has a market cap of $1.87 billion, a PE ratio of 7.43 and a beta of 1.40. The stock’s fifty day simple moving average is $41.75. Deluxe Co. has a 52-week low of $36.11 and a 52-week high of $60.55.

Deluxe (NYSE:DLX) last announced its earnings results on Thursday, July 25th. The business services provider reported $1.52 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.60 by ($0.08). The business had revenue of $494.00 million for the quarter, compared to analysts’ expectations of $495.90 million. Deluxe had a return on equity of 28.94% and a net margin of 5.28%. The business’s revenue was up 1.2% on a year-over-year basis. During the same quarter last year, the business posted $1.40 earnings per share. As a group, equities analysts forecast that Deluxe Co. will post 6.68 EPS for the current year.

Separately, Zacks Investment Research upgraded shares of Deluxe from a “hold” rating to a “buy” rating and set a $49.00 price target on the stock in a research note on Wednesday, July 31st.

Deluxe Company Profile

Deluxe Corporation provides checks, forms, marketing solutions, accessories, and other products and services for small businesses and financial institutions. It operates through three segments: Small Business Services, Financial Services, and Direct Checks. The company provides checks; printed forms, such as deposit tickets, billing forms, work orders, job proposals, purchase orders, invoices, and personnel forms, as well as computer forms and check registers; and accessories and other products comprising envelopes, office supplies, ink stamps, and labels, as well as checkbook covers.

Further Reading: Moving Average Convergence Divergence (MACD)

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Institutional Ownership by Quarter for Deluxe (NYSE:DLX)

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