Mercer Global Advisors Inc. ADV Raises Stock Position in CSP Inc. (NASDAQ:CSPI)

Mercer Global Advisors Inc. ADV lifted its stake in CSP Inc. (NASDAQ:CSPI) by 122.5% in the second quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 197,556 shares of the information technology services provider’s stock after purchasing an additional 108,778 shares during the quarter. Mercer Global Advisors Inc. ADV owned about 2.03% of CSP worth $2,944,000 at the end of the most recent reporting period.

Other hedge funds have also bought and sold shares of the company. Renaissance Technologies LLC grew its position in CSP by 3.7% in the 2nd quarter. Renaissance Technologies LLC now owns 442,226 shares of the information technology services provider’s stock valued at $6,589,000 after acquiring an additional 15,800 shares during the last quarter. Vanguard Group Inc. grew its holdings 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 worth $7,561,000 after purchasing an additional 207,253 shares during the last quarter. Visionary Wealth Advisors increased its stake in CSP by 3.3% in 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. American Century Companies Inc. bought a new stake in CSP during the 2nd quarter valued at about $503,000. Finally, O Shaughnessy Asset Management LLC purchased a new stake in CSP in the 1st quarter valued at about $276,000. Institutional investors own 26.74% of the company’s stock.

CSP Trading Up 1.5 %

Shares of CSP stock opened at $12.67 on Monday. The stock’s fifty day moving average price is $13.96 and its 200-day moving average price is $15.19. The firm has a market cap of $123.58 million, a P/E ratio of 22.63 and a beta of 1.37. CSP Inc. has a 12 month low of $7.76 and a 12 month high of $29.92.

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

CSP Dividend Announcement

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

Wall Street Analysts Forecast Growth

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

Insiders Place Their Bets

In other news, Director C Shelton James sold 2,000 shares of CSP stock in a transaction on Wednesday, August 21st. The stock was sold at an average price of $14.25, for a total value of $28,500.00. Following the transaction, the director now directly owns 109,606 shares in the company, valued at approximately $1,561,885.50. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Insiders purchased a total of 4,040 shares of company stock worth $55,989 over the last 90 days. Company insiders own 16.60% 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.