JLB & Associates Inc. Sells 68,846 Shares of Deluxe Co. (DLX)
JLB & Associates Inc. cut its position in shares of Deluxe Co. (NYSE:DLX) by 50.8% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 66,556 shares of the business services provider’s stock after selling 68,846 shares during the quarter. JLB & Associates Inc. owned approximately 0.14% of Deluxe worth $2,558,000 as of its most recent SEC filing.
Several other institutional investors have also recently made changes to their positions in the company. BlackRock Inc. grew its position in Deluxe by 10.1% during the 2nd quarter. BlackRock Inc. now owns 5,881,487 shares of the business services provider’s stock worth $389,412,000 after acquiring an additional 538,145 shares during the last quarter. Morgan Stanley grew its position in Deluxe by 113.6% during the 2nd quarter. Morgan Stanley now owns 750,694 shares of the business services provider’s stock worth $49,703,000 after acquiring an additional 399,319 shares during the last quarter. Canada Pension Plan Investment Board grew its position in Deluxe by 2,091.1% during the 3rd quarter. Canada Pension Plan Investment Board now owns 370,300 shares of the business services provider’s stock worth $21,085,000 after acquiring an additional 353,400 shares during the last quarter. Credit Suisse AG grew its position in Deluxe by 159.9% during the 3rd quarter. Credit Suisse AG now owns 316,196 shares of the business services provider’s stock worth $18,005,000 after acquiring an additional 194,528 shares during the last quarter. Finally, Matarin Capital Management LLC bought a new position in Deluxe during the 3rd quarter worth approximately $9,528,000. Hedge funds and other institutional investors own 90.35% of the company’s stock.
Several equities analysts recently issued reports on DLX shares. Buckingham Research reduced their price target on Deluxe from $56.00 to $50.00 and set a “neutral” rating on the stock in a research report on Friday, October 26th. Zacks Investment Research lowered Deluxe from a “hold” rating to a “sell” rating in a research report on Tuesday. Finally, ValuEngine lowered Deluxe from a “sell” rating to a “strong sell” rating in a research report on Tuesday, December 11th. Two investment analysts have rated the stock with a sell rating, one has assigned a hold rating and one has issued a buy rating to the company. The company has an average rating of “Hold” and an average target price of $50.00.
Deluxe (NYSE:DLX) last released its quarterly earnings data on Thursday, October 25th. The business services provider reported $1.36 earnings per share for the quarter, topping the consensus estimate of $1.28 by $0.08. Deluxe had a return on equity of 26.00% and a net margin of 9.00%. The business had revenue of $493.20 million during the quarter. Sell-side analysts predict that Deluxe Co. will post 5.63 earnings per share for the current year.
In other news, SVP Jeffrey Louis Cotter bought 2,035 shares of the stock in a transaction dated Wednesday, November 7th. The stock was bought at an average price of $49.20 per share, for a total transaction of $100,122.00. The purchase was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, insider Keith A. Bush bought 2,020 shares of the stock in a transaction dated Wednesday, November 7th. The stock was purchased at an average price of $49.60 per share, with a total value of $100,192.00. The disclosure for this purchase can be found here. Company insiders own 2.30% of the company’s stock.
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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.
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