CSP (NASDAQ:CSPI) Shares Cross Above Two Hundred Day Moving Average of $13.35

CSP Inc. (NASDAQ:CSPI) shares crossed above its two hundred day moving average during trading on Friday . The stock has a two hundred day moving average of $13.35 and traded as high as $19.51. CSP shares last traded at $17.33, with a volume of 74,767 shares trading hands.

Analysts Set New Price Targets

CSPI has been the topic of a number of research analyst reports. StockNews.com lowered CSP from a “buy” rating to a “hold” rating in a report on Wednesday, February 14th. TheStreet lowered CSP from a “b-” rating to a “c” rating in a report on Thursday, February 15th.

CSP Price Performance

The business has a fifty day moving average of $18.78 and a 200-day moving average of $13.35. The stock has a market capitalization of $168.27 million, a price-to-earnings ratio of 39.84 and a beta of 1.24.

CSP (NASDAQ:CSPI) last released its earnings results on Wednesday, February 14th. The information technology services provider reported ($0.01) earnings per share (EPS) for the quarter. The firm had revenue of $15.38 million for the quarter. CSP had a return on equity of 8.76% and a net margin of 6.33%.

CSP Cuts Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, March 8th. Investors of record on Monday, February 26th were paid a $0.025 dividend. The ex-dividend date was Friday, February 23rd. This represents a $0.10 dividend on an annualized basis and a yield of 0.58%. CSP’s dividend payout ratio is currently 22.99%.

Insider Buying and Selling

In related news, insider Joseph R. Nerges purchased 1,940 shares of the company’s stock in a transaction that occurred on Monday, March 11th. The shares were purchased at an average price of $17.97 per share, with a total value of $34,852.10. Following the purchase, the insider now owns 1,335,366 shares of the company’s stock, valued at approximately $23,989,850.19. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In the last quarter, insiders have purchased 3,140 shares of company stock valued at $57,400. 15.30% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On CSP

Institutional investors have recently bought and sold shares of the business. UBS Group AG acquired a new stake in CSP during the 3rd quarter worth about $38,000. JPMorgan Chase & Co. boosted its position in CSP by 100.0% during the 1st quarter. JPMorgan Chase & Co. now owns 4,000 shares of the information technology services provider’s stock worth $31,000 after acquiring an additional 2,000 shares during the period. State Street Corp acquired a new stake in shares of CSP during the 1st quarter valued at about $80,000. Northern Trust Corp acquired a new stake in shares of CSP during the 4th quarter valued at about $305,000. Finally, BlackRock Inc. lifted its holdings in shares of CSP by 112.9% during the 2nd quarter. BlackRock Inc. now owns 18,756 shares of the information technology services provider’s stock valued at $223,000 after buying an additional 9,948 shares during the last quarter. 26.74% of the stock is currently owned by institutional investors and hedge funds.

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.