CSP Inc. (NASDAQ:CSPI) Major Shareholder Acquires $39,902.00 in Stock

CSP Inc. (NASDAQ:CSPIGet Free Report) major shareholder Joseph R. Nerges acquired 2,810 shares of the stock in a transaction dated Tuesday, May 28th. The shares were bought at an average price of $14.20 per share, with a total value of $39,902.00. Following the completion of the purchase, the insider now directly owns 1,350,402 shares of the company’s stock, valued at approximately $19,175,708.40. The purchase was disclosed in a filing with the SEC, which is accessible through the SEC website. Major shareholders that own more than 10% of a company’s stock are required to disclose their sales and purchases with the SEC.

CSP Stock Down 1.0 %

Shares of CSPI stock opened at $14.81 on Friday. CSP Inc. has a 52-week low of $4.91 and a 52-week high of $29.92. The stock has a market cap of $144.40 million, a PE ratio of 26.45 and a beta of 1.30. The business has a 50-day simple moving average of $15.67 and a 200-day simple moving average of $14.52.

CSP (NASDAQ:CSPIGet Free Report) last released its quarterly earnings data on Wednesday, May 8th. The information technology services provider reported $0.16 earnings per share for the quarter. The company had revenue of $13.71 million during the quarter. CSP had a net margin of 8.18% and a return on equity of 10.99%.

CSP Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, June 12th. Stockholders of record on Friday, May 24th will be given a $0.03 dividend. This represents a $0.12 annualized dividend and a dividend yield of 0.81%. The ex-dividend date of this dividend is Thursday, May 23rd. This is an increase from CSP’s previous quarterly dividend of $0.03. CSP’s dividend payout ratio (DPR) is 21.43%.

Analyst Upgrades and Downgrades

CSPI has been the subject of a number of research reports. StockNews.com cut CSP from a “buy” rating to a “hold” rating in a research report on Wednesday, February 14th. TheStreet downgraded CSP from a “b-” rating to a “c” rating in a report on Thursday, February 15th.

Check Out Our Latest Report on CSPI

Institutional Investors Weigh In On CSP

A number of hedge funds have recently modified their holdings of CSPI. Vanguard Group Inc. boosted its position in CSP by 102.4% during the first quarter. Vanguard Group Inc. now owns 409,566 shares of the information technology services provider’s stock worth $7,561,000 after acquiring an additional 207,253 shares during the last quarter. EAM Investors LLC purchased a new stake in shares of CSP in the third quarter valued at approximately $1,383,000. Navellier & Associates Inc. acquired a new stake in shares of CSP in the third quarter valued at approximately $367,000. O Shaughnessy Asset Management LLC acquired a new stake in shares of CSP in the first quarter valued at approximately $276,000. Finally, Visionary Wealth Advisors lifted its position in CSP by 3.3% during the fourth quarter. Visionary Wealth Advisors now owns 293,403 shares of the information technology services provider’s stock worth $5,868,000 after buying an additional 9,363 shares in the last quarter. 26.74% of the stock is currently owned by institutional investors and hedge funds.

About CSP

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CSP Inc develops and markets IT integration solutions, security products, managed IT services, cloud services, purpose-built network adapters, and cluster computer systems for commercial and defense customers worldwide. It operates in two segments, Technology Solutions and High Performance Products. The Technology Solutions segment provides third-party computer hardware and software as a value-added reseller to various customers in web and infrastructure hosting, education, telecommunications, healthcare services, distribution, financial and professional services, and manufacturing industries.

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