CSP Inc. (NASDAQ:CSPI – Get Free Report) major shareholder Joseph R. Nerges bought 2,000 shares of the company’s stock in a transaction on Wednesday, July 17th. The shares were acquired at an average price of $14.38 per share, with a total value of $28,760.00. Following the transaction, the insider now directly owns 1,371,326 shares of the company’s stock, valued at $19,719,667.88. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Large shareholders that own 10% or more of a company’s shares are required to disclose their sales and purchases with the SEC.
CSP Stock Performance
Shares of CSPI stock opened at $14.67 on Monday. The stock has a 50 day moving average price of $14.61 and a 200 day moving average price of $15.46. CSP Inc. has a 52-week low of $5.60 and a 52-week high of $29.92. The firm has a market capitalization of $143.03 million, a P/E ratio of 26.20 and a beta of 1.37.
CSP (NASDAQ:CSPI – Get Free Report) last released its earnings results on Wednesday, May 8th. The information technology services provider reported $0.16 earnings per share for the quarter. The business had revenue of $13.71 million during the quarter. CSP had a return on equity of 10.99% and a net margin of 8.18%.
CSP Increases Dividend
Institutional Trading of CSP
Several institutional investors and hedge funds have recently modified their holdings of the stock. O Shaughnessy Asset Management LLC bought a new position in CSP in the first quarter worth approximately $276,000. Navellier & Associates Inc. lifted its holdings 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 worth $628,000 after buying an additional 11,215 shares during the period. Visionary Wealth Advisors grew its position 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 in the last quarter. Finally, Vanguard Group Inc. increased its stake in shares of CSP by 102.4% during 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 buying an additional 207,253 shares during the period. Institutional investors 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.
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