Bank of New York Mellon Corp Has $1.02 Million Stake in CSP Inc. (NASDAQ:CSPI)

Bank of New York Mellon Corp reduced its holdings in CSP Inc. (NASDAQ:CSPI) by 2.1% during the 2nd quarter, according to the company in its most recent disclosure with the SEC. The fund owned 68,182 shares of the information technology services provider’s stock after selling 1,470 shares during the quarter. Bank of New York Mellon Corp owned about 0.70% of CSP worth $1,016,000 as of its most recent filing with the SEC.

Other institutional investors have also made changes to their positions in the company. O Shaughnessy Asset Management LLC bought a new stake in CSP during the 1st quarter valued at approximately $276,000. Visionary Wealth Advisors lifted its holdings in shares of CSP by 3.3% during the fourth 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 last quarter. Finally, Vanguard Group Inc. boosted its position in shares of 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 period. 26.74% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Separately, StockNews.com lowered shares of CSP from a “buy” rating to a “hold” rating in a research report on Tuesday, August 20th.

CSP Stock Performance

Shares of CSPI opened at $12.67 on Friday. The company has a 50-day simple moving average of $13.96 and a 200-day simple moving average of $15.22. CSP Inc. has a 52 week low of $7.76 and a 52 week high of $29.92. The firm has a market capitalization of $123.58 million, a P/E ratio of 22.63 and a beta of 1.37.

CSP (NASDAQ:CSPI) last issued its quarterly earnings results on Tuesday, August 13th. The information technology services provider reported ($0.02) earnings per share (EPS) for the quarter. CSP had a net margin of 4.42% and a return on equity of 5.38%. The firm had revenue of $13.11 million for the quarter.

CSP Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Tuesday, September 10th. Investors of record on Friday, August 23rd were paid a $0.03 dividend. The ex-dividend date was Friday, August 23rd. This represents a $0.12 dividend on an annualized basis and a dividend yield of 0.95%. CSP’s payout ratio is 21.43%.

Insider Buying and Selling

In other CSP news, Director C Shelton James sold 2,000 shares of CSP stock in a transaction on Wednesday, August 21st. The shares were sold at an average price of $14.25, for a total transaction of $28,500.00. Following the sale, the director now owns 109,606 shares in the company, valued at $1,561,885.50. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Insiders bought a total of 5,440 shares of company stock valued at $75,015 over the last ninety days. 16.60% of the stock is owned by company insiders.

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.