Joseph R. Nerges Purchases 1,400 Shares of CSP Inc. (NASDAQ:CSPI) Stock

CSP Inc. (NASDAQ:CSPI) major shareholder Joseph R. Nerges purchased 1,400 shares of CSP stock in a transaction that occurred on Monday, June 24th. The shares were bought at an average cost of $13.59 per share, for a total transaction of $19,026.00. Following the transaction, the insider now directly owns 1,367,616 shares of the company’s stock, valued at $18,585,901.44. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Large shareholders that own 10% or more of a company’s stock are required to disclose their sales and purchases with the SEC.

CSP Stock Performance

Shares of CSPI stock opened at $13.26 on Tuesday. The stock’s fifty day moving average price is $14.14 and its two-hundred day moving average price is $14.78. The company has a market cap of $129.29 million, a PE ratio of 23.68 and a beta of 1.38. CSP Inc. has a fifty-two week low of $4.91 and a fifty-two week high of $29.92.

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

CSP Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, June 12th. Shareholders of record on Friday, May 24th were issued a $0.03 dividend. This represents a $0.12 dividend on an annualized basis and a dividend yield of 0.90%. The ex-dividend date was Thursday, May 23rd. This is an increase from CSP’s previous quarterly dividend of $0.03. CSP’s dividend payout ratio (DPR) is currently 21.43%.

Institutional Investors Weigh In On CSP

Large investors have recently modified their holdings of the business. O Shaughnessy Asset Management LLC acquired a new stake in shares of CSP in the 1st quarter valued at $276,000. Navellier & Associates Inc. boosted its holdings in shares of CSP by 53.4% during the 4th 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 in the last quarter. Visionary Wealth Advisors boosted its holdings in shares of CSP by 3.3% during the 4th quarter. Visionary Wealth Advisors now owns 293,403 shares of the information technology services provider’s stock valued at $5,868,000 after acquiring an additional 9,363 shares in the last quarter. Finally, Vanguard Group Inc. boosted its holdings in shares of 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 acquiring an additional 207,253 shares in the last quarter. Institutional investors and hedge funds 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.