CSP Inc. (NASDAQ:CSPI) Major Shareholder Joseph R. Nerges Acquires 2,000 Shares

CSP Inc. (NASDAQ:CSPI) major shareholder Joseph R. Nerges bought 2,000 shares of the stock in a transaction on Friday, June 14th. The shares were acquired at an average cost of $14.02 per share, with a total value of $28,040.00. Following the purchase, the insider now owns 1,360,402 shares of the company’s stock, valued at approximately $19,072,836.04. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Major shareholders that own at least 10% of a company’s shares are required to disclose their transactions with the SEC.

CSP Price Performance

CSP stock opened at $13.92 on Wednesday. The business has a 50 day moving average of $14.47 and a 200-day moving average of $14.73. CSP Inc. has a 1 year low of $4.91 and a 1 year high of $29.92. The company has a market capitalization of $135.72 million, a P/E ratio of 24.86 and a beta of 1.38.

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

CSP Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, June 12th. Stockholders of record on Friday, May 24th were paid a $0.03 dividend. The ex-dividend date of this dividend was Thursday, May 23rd. This represents a $0.12 annualized dividend and a dividend yield of 0.86%. This is an increase from CSP’s previous quarterly dividend of $0.03. CSP’s dividend payout ratio is currently 21.43%.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in CSPI. Visionary Wealth Advisors boosted its holdings in CSP by 0.6% in the third quarter. Visionary Wealth Advisors now owns 284,040 shares of the information technology services provider’s stock valued at $4,971,000 after acquiring an additional 1,722 shares during the last quarter. Navellier & Associates Inc. boosted its holdings in CSP by 53.4% in the fourth quarter. Navellier & Associates Inc. now owns 32,204 shares of the information technology services provider’s stock valued at $628,000 after acquiring an additional 11,215 shares during the last quarter. O Shaughnessy Asset Management LLC bought a new stake in CSP in the first quarter valued at approximately $276,000. EAM Investors LLC bought a new stake in CSP in the third quarter valued at approximately $1,383,000. Finally, Vanguard Group Inc. boosted its holdings in CSP by 102.4% in the first quarter. Vanguard Group Inc. now owns 409,566 shares of the information technology services provider’s stock valued at $7,561,000 after acquiring an additional 207,253 shares during the last quarter. Institutional investors and hedge funds own 26.74% of the company’s stock.

About CSP

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.