CSP Inc. (NASDAQ:CSPI) Major Shareholder Acquires $19,026.00 in Stock

CSP Inc. (NASDAQ:CSPI) major shareholder Joseph R. Nerges purchased 1,400 shares of the stock in a transaction that occurred on Monday, June 24th. The shares were purchased at an average cost of $13.59 per share, with a total value of $19,026.00. Following the completion of the acquisition, the insider now owns 1,367,616 shares in the company, valued at approximately $18,585,901.44. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Large shareholders that own more than 10% of a company’s shares are required to disclose their sales and purchases with the SEC.

CSP Price Performance

Shares of CSPI stock opened at $13.87 on Thursday. CSP Inc. has a 1-year low of $4.91 and a 1-year high of $29.92. The firm has a fifty day moving average of $14.02 and a two-hundred day moving average of $14.78. The firm has a market cap of $135.23 million, a P/E ratio of 24.77 and a beta of 1.38.

CSP (NASDAQ:CSPI) last issued its quarterly earnings data 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 net margin of 8.18% and a return on equity of 10.99%.

CSP Increases Dividend

The firm 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 was Thursday, May 23rd. This represents a $0.12 annualized dividend and a dividend yield of 0.87%. This is a boost from CSP’s previous quarterly dividend of $0.03. CSP’s payout ratio is currently 21.43%.

Hedge Funds Weigh In On CSP

Several hedge funds have recently made changes to their positions in the business. Vanguard Group Inc. increased its stake in CSP by 102.4% in 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 period. O Shaughnessy Asset Management LLC bought a new stake in shares of CSP during the 1st quarter worth $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 worth $628,000 after buying an additional 11,215 shares during the period. Finally, 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 worth $5,868,000 after buying an additional 9,363 shares during the period. 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.