Joseph R. Nerges Buys 1,402 Shares of CSP Inc. (NASDAQ:CSPI) Stock

CSP Inc. (NASDAQ:CSPI) major shareholder Joseph R. Nerges acquired 1,402 shares of the business’s stock in a transaction that occurred on Monday, June 17th. The shares were purchased at an average cost of $13.95 per share, for a total transaction of $19,557.90. Following the completion of the transaction, the insider now directly owns 1,361,804 shares in the company, valued at approximately $18,997,165.80. The purchase was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Large shareholders that own 10% or more of a company’s shares are required to disclose their sales and purchases with the SEC.

CSP Stock Down 2.9 %

NASDAQ:CSPI opened at $13.92 on Thursday. 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 $135.72 million, a price-to-earnings ratio of 24.86 and a beta of 1.38. The company’s 50 day moving average price is $14.38 and its 200-day moving average price is $14.73.

CSP (NASDAQ:CSPI) last announced its quarterly earnings results 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 firm had revenue of $13.71 million for the quarter.

CSP Increases Dividend

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

Institutional Investors Weigh In On CSP

Several institutional investors and hedge funds have recently added to or reduced their stakes in CSPI. Vanguard Group Inc. raised its stake in CSP by 102.4% during the 1st quarter. Vanguard Group Inc. now owns 409,566 shares of the information technology services provider’s stock valued at $7,561,000 after buying an additional 207,253 shares during the last quarter. EAM Investors LLC bought a new stake in shares of CSP in the third quarter worth $1,383,000. O Shaughnessy Asset Management LLC purchased a new stake in CSP during the first quarter valued at $276,000. Navellier & Associates Inc. lifted 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 period. Finally, Visionary Wealth Advisors boosted its position in CSP by 3.3% in the fourth quarter. Visionary Wealth Advisors now owns 293,403 shares of the information technology services provider’s stock worth $5,868,000 after purchasing an additional 9,363 shares during the last quarter. Hedge funds and other institutional investors own 26.74% of the company’s stock.

CSP Company Profile

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.