Burns J W Co Incny Lowers stake in Deluxe Corporation (DLX)

Deluxe Corporation (DLX) : Burns J W Co Incny reduced its stake in Deluxe Corporation by 0.33% during the most recent quarter end. The investment management company now holds a total of 82,724 shares of Deluxe Corporation which is valued at $5,474,674 after selling 275 shares in Deluxe Corporation , the firm said in a disclosure report filed with the SEC on Oct 5, 2016.Deluxe Corporation makes up approximately 1.70% of Burns J W Co Incny’s portfolio.

Other Hedge Funds, Including , Bnp Paribas Arbitrage Sa reduced its stake in DLX by selling 14,256 shares or 57.95% in the most recent quarter. The Hedge Fund company now holds 10,343 shares of DLX which is valued at $684,500.

Deluxe Corporation opened for trading at $66.69 and hit $67.5 on the upside on Tuesday, eventually ending the session at $66.78, with a gain of 0.12% or 0.08 points. The heightened volatility saw the trading volume jump to 1,55,202 shares. Company has a market cap of $3,257 M.

On the company’s financial health, Deluxe Corporation reported $1.20 EPS for the quarter, beating the analyst consensus estimate by $ 0.02 according to the earnings call on Jul 28, 2016. Analyst had a consensus of $1.18. The company had revenue of $450.60 million for the quarter, compared to analysts expectations of $450.64 million. The company’s revenue was up 3.4% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.13 EPS.

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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