Deluxe (NYSE:DLX) Stock Crosses Above 200-Day Moving Average – Here’s Why

Shares of Deluxe Corporation (NYSE:DLX) crossed above its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of $22.83 and traded as high as $28.15. Deluxe shares last traded at $27.6890, with a volume of 237,264 shares traded.

Analyst Upgrades and Downgrades

Several research analysts recently weighed in on the stock. Weiss Ratings upgraded shares of Deluxe from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Tuesday, February 10th. Zacks Research upgraded Deluxe from a “hold” rating to a “strong-buy” rating in a research note on Monday, February 2nd. Finally, CJS Securities raised Deluxe to a “hold” rating in a report on Thursday, December 11th. One investment 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. Based on data from MarketBeat, the stock presently has an average rating of “Buy” and an average price target of $23.00.

Deluxe Price Performance

The stock’s 50-day moving average price is $27.06 and its 200 day moving average price is $22.89. The company has a quick ratio of 0.98, a current ratio of 1.04 and a debt-to-equity ratio of 2.08. The firm has a market capitalization of $1.25 billion, a price-to-earnings ratio of 14.73, a PEG ratio of 0.65 and a beta of 1.33.

Deluxe Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, February 23rd. Stockholders of record on Monday, February 9th were issued a dividend of $0.30 per share. This represents a $1.20 annualized dividend and a dividend yield of 4.3%. The ex-dividend date was Monday, February 9th. Deluxe’s payout ratio is currently 63.83%.

Institutional Investors Weigh In On Deluxe

Several hedge funds and other institutional investors have recently made changes to their positions in the stock. Denali Advisors LLC purchased a new position in shares of Deluxe during the 3rd quarter worth $769,000. SG Americas Securities LLC purchased a new stake in shares of Deluxe in the third quarter valued at about $512,000. Allianz Asset Management GmbH increased its position in Deluxe by 140.2% during the third quarter. Allianz Asset Management GmbH now owns 88,266 shares of the business services provider’s stock worth $1,709,000 after purchasing an additional 51,524 shares during the last quarter. Picton Mahoney Asset Management acquired a new stake in Deluxe during the third quarter worth about $845,000. Finally, Segall Bryant & Hamill LLC purchased a new position in Deluxe during the third quarter worth about $891,000. Institutional investors and hedge funds own 93.90% of the company’s stock.

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.