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

CSP Inc. (NASDAQ:CSPI)’s share price passed below its two hundred day moving average during trading on Monday . The stock has a two hundred 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 trading hands.

CSP Stock Down 2.8 %

The firm has a market cap of $147.91 million, a price-to-earnings ratio of 27.09 and a beta of 1.38. The firm has a 50 day moving average of $14.12 and a 200 day moving average of $14.98.

CSP (NASDAQ:CSPI) last posted its quarterly earnings results on Wednesday, May 8th. The information technology services provider reported $0.16 earnings per share (EPS) 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 business also recently declared a quarterly dividend, which was paid on Wednesday, June 12th. Shareholders of record on Friday, May 24th were paid a $0.03 dividend. This is an increase from CSP’s previous quarterly dividend of $0.03. This represents a $0.12 annualized dividend and a yield of 0.79%. The ex-dividend date of this dividend was Thursday, May 23rd. CSP’s payout ratio is 21.43%.

Insider Activity

In other news, major shareholder Joseph R. Nerges bought 2,200 shares of CSP stock in a transaction dated Friday, May 31st. The stock was bought at an average cost of $14.21 per share, for a total transaction of $31,262.00. Following the purchase, the insider now directly owns 1,352,602 shares in the company, valued at approximately $19,220,474.42. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In other CSP news, major shareholder Joseph R. Nerges acquired 2,000 shares of the stock in a transaction on Friday, June 14th. The shares were purchased at an average price of $14.02 per share, for a total transaction of $28,040.00. Following the completion of the acquisition, the insider now owns 1,360,402 shares in the company, valued at approximately $19,072,836.04. The acquisition was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, major shareholder Joseph R. Nerges acquired 2,200 shares of CSP stock in a transaction dated 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 acquisition, 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. Over the last 90 days, insiders have purchased 14,652 shares of company stock worth $206,757. Company insiders own 16.60% of the company’s stock.

Institutional Investors Weigh In On CSP

A number of institutional investors and hedge funds have recently made changes to their positions in the business. Navellier & Associates Inc. increased its holdings in 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 purchasing an additional 11,215 shares in the last quarter. Visionary Wealth Advisors boosted its position 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 valued at $5,868,000 after buying an additional 9,363 shares during the last quarter. Vanguard Group Inc. grew its holdings in CSP by 102.4% during the first quarter. Vanguard Group Inc. now owns 409,566 shares of the information technology services provider’s stock worth $7,561,000 after buying an additional 207,253 shares in the last quarter. Finally, O Shaughnessy Asset Management LLC purchased a new stake in CSP in the 1st quarter valued at $276,000. Institutional investors and hedge funds own 26.74% of the company’s stock.

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.