Cubist Systematic Strategies LLC Cuts Stock Position in Deluxe Co. (NYSE:DLX)

Posted by Defense World Staff on Mar 8th, 2023

Cubist Systematic Strategies LLC lowered its holdings in Deluxe Co. (NYSE:DLX – Get Rating) by 37.9% during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 60,642 shares of the business services provider’s stock after selling 37,003 shares during the period. Cubist Systematic Strategies LLC owned about 0.14% of Deluxe worth $1,010,000 as of its most recent SEC filing.

Other institutional investors have also recently made changes to their positions in the company. Boundary Creek Advisors LP purchased a new position in shares of Deluxe during the 3rd quarter valued at $13,770,000. Great West Life Assurance Co. Can lifted its position in shares of Deluxe by 24.5% during the 3rd quarter. Great West Life Assurance Co. Can now owns 55,525 shares of the business services provider’s stock valued at $927,000 after buying an additional 10,914 shares during the last quarter. Allianz Asset Management GmbH raised its stake in shares of Deluxe by 50.7% during the 3rd quarter. Allianz Asset Management GmbH now owns 72,202 shares of the business services provider’s stock valued at $1,202,000 after purchasing an additional 24,289 shares during the period. Keeley Teton Advisors LLC bought a new stake in shares of Deluxe during the 2nd quarter valued at $202,000. Finally, Victory Capital Management Inc. raised its stake in shares of Deluxe by 35.6% during the 3rd quarter. Victory Capital Management Inc. now owns 564,363 shares of the business services provider’s stock valued at $9,397,000 after purchasing an additional 148,063 shares during the period. Hedge funds and other institutional investors own 85.65% of the company’s stock.

Wall Street Analysts Forecast Growth

Separately, Cowen decreased their price objective on Deluxe from $32.00 to $29.00 in a research note on Friday, February 3rd.

Deluxe Stock Performance

NYSE:DLX opened at $17.65 on Wednesday. The firm has a market cap of $763.72 million, a price-to-earnings ratio of 11.69, a PEG ratio of 0.60 and a beta of 1.56. The company has a debt-to-equity ratio of 2.60, a quick ratio of 0.87 and a current ratio of 0.94. The business’s fifty day moving average is $19.01 and its 200 day moving average is $18.47. Deluxe Co. has a 52-week low of $15.30 and a 52-week high of $33.57.

Deluxe Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, March 6th. Shareholders of record on Tuesday, February 21st were paid a $0.30 dividend. The ex-dividend date of this dividend was Friday, February 17th. This represents a $1.20 dividend on an annualized basis and a yield of 6.80%. Deluxe’s dividend payout ratio is currently 79.47%.

About Deluxe

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Deluxe Corp. engages in the provision of marketing products and services. It operates through the following segments: Payments, Cloud Solutions, Promotional Solutions, and Checks. The Payments segment includes treasury management solutions, including remittance and lockbox processing, remote deposit capture, receivables management, payment processing and paperless treasury management.