Solaris Asset Management Lowers stake in Deluxe Corporation (DLX)

Deluxe Corporation (DLX) : Solaris Asset Management reduced its stake in Deluxe Corporation by 1.6% during the most recent quarter end. The investment management company now holds a total of 68,525 shares of Deluxe Corporation which is valued at $4.2 Million after selling 1,112 shares in Deluxe Corporation , the firm said in a disclosure report filed with the SEC on May 11, 2016.Deluxe Corporation makes up approximately 2.97% of Solaris Asset Management’s portfolio.

Other Hedge Funds, Including , Picton Mahoney Asset Management reduced its stake in DLX by selling 100 shares or 7.14% in the most recent quarter. The Hedge Fund company now holds 1,300 shares of DLX which is valued at $80,522. Deluxe Corporation makes up approx 0.01% of Picton Mahoney Asset Management’s portfolio.Monarch Partners Asset Management boosted its stake in DLX in the latest quarter, The investment management firm added 91,265 additional shares and now holds a total of 333,688 shares of Deluxe Corporation which is valued at $21.2 Million. Deluxe Corporation makes up approx 2.17% of Monarch Partners Asset Management’s portfolio. Quantbot Technologies Lp sold out all of its stake in DLX during the most recent quarter. The investment firm sold 1,034 shares of DLX which is valued $64,915.

Deluxe Corporation opened for trading at $61.96 and hit $63.57 on the upside on Monday, eventually ending the session at $63.17, with a gain of 1.99% or 1.23 points. The heightened volatility saw the trading volume jump to 3,27,303 shares. Company has a market cap of $3,090 M.

On the company’s financial health, Deluxe Corporation reported $1.19 EPS for the quarter, beating the analyst consensus estimate by $ 0.04 according to the earnings call on Apr 28, 2016. Analyst had a consensus of $1.15. The company had revenue of $459.30 million for the quarter, compared to analysts expectations of $450.98 million. The company’s revenue was up 5.9% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.04 EPS.

Investors should note that on May 4, 2016, Deluxe Corporation announced a cash dividend of $0.3000. The company’s management has announced May 19, 2016 as the ex-dividend date and fixed the record date on May 23, 2016. The payable date has been fixed on Jun 6, 2016.

Deluxe Corporation provides payment solutions. The Company’s product and service offerings consist of checks forms and accessories and other products. The Company operates in three segments: Small Business Services segment Financial Services segment and Direct Checks segment. The Small Business Services segment offers Web design hosting and other Web services; search engine optimization; digital printing services and logo design among others. The Financial Services segment offers customer acquisition programs financial institution profitability and risk management services marketing communications services and fraud protection and security services among others. It also offers forms such as deposit tickets and check registers. The Direct Checks segment supplies checks and provides fraud protection and security services as well as package insert programs. It offers its products under brand names such as Checks Unlimited Designer Checks Deluxe and NEBS among others.

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