CSP (NASDAQ:CSPI) Shares Cross Below Two Hundred Day Moving Average of $14.93

CSP Inc. (NASDAQ:CSPI)’s stock price passed below its 200-day moving average during trading on Monday . The stock has a 200-day moving average of $14.93 and traded as low as $14.51. CSP shares last traded at $15.21, with a volume of 35,965 shares.

CSP Price Performance

The firm has a market cap of $148.30 million, a price-to-earnings ratio of 27.16 and a beta of 1.38. The stock has a 50-day moving average of $14.07 and a 200-day moving average of $14.93.

CSP (NASDAQ:CSPI) last issued its quarterly earnings results on Wednesday, May 8th. The information technology services provider reported $0.16 earnings per share (EPS) for the quarter. The business 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 paid a dividend of $0.03 per share. The ex-dividend date of this dividend was Thursday, May 23rd. This is a boost from CSP’s previous quarterly dividend of $0.03. This represents a $0.12 annualized dividend and a yield of 0.79%. CSP’s dividend payout ratio is presently 21.43%.

Insiders Place Their Bets

In other CSP news, major shareholder Joseph R. Nerges bought 2,000 shares of the business’s stock in a transaction on Friday, June 14th. The stock was purchased at an average cost of $14.02 per share, for a total transaction of $28,040.00. Following the completion of the purchase, the insider now directly owns 1,360,402 shares of the company’s stock, valued at $19,072,836.04. The acquisition was disclosed in a filing with the SEC, which is available at this link. In other CSP news, major shareholder Joseph R. Nerges bought 2,000 shares of the business’s stock in a transaction on Friday, June 14th. The stock was purchased at an average cost of $14.02 per share, for a total transaction of $28,040.00. Following the completion of the purchase, the insider now directly owns 1,360,402 shares of the company’s stock, valued at $19,072,836.04. The acquisition was disclosed in a filing with the SEC, which is available at this link. Also, major shareholder Joseph R. Nerges bought 2,200 shares of the business’s stock in a transaction on Friday, May 31st. The shares were acquired at an average price of $14.21 per share, with a total value of $31,262.00. Following the completion of the purchase, the insider now directly owns 1,352,602 shares of the company’s stock, valued at $19,220,474.42. The disclosure for this purchase can be found here. Insiders acquired 14,652 shares of company stock worth $206,757 over the last three months. Insiders own 16.60% of the company’s stock.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of the company. O Shaughnessy Asset Management LLC bought a new position in shares of CSP in the 1st quarter valued at $276,000. Vanguard Group Inc. lifted its stake in shares of 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 acquiring an additional 207,253 shares during the last quarter. Visionary Wealth Advisors lifted its stake in shares of CSP by 3.3% in 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 during the last quarter. Finally, Navellier & Associates Inc. lifted its stake in shares of CSP by 53.4% in 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 during the last quarter. 26.74% of the stock is currently owned by institutional investors.

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.