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

CSP Inc. (NASDAQ:CSPI)’s share price passed 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

A number of brokerages recently issued reports on CSPI. TheStreet lowered CSP from a “b-” rating to a “c” rating in a research report on Thursday, February 15th. StockNews.com lowered CSP from a “buy” rating to a “hold” rating in a research report on Wednesday, February 14th.

CSP Stock Down 11.4 %

The stock has a 50 day simple moving average of $18.78 and a two-hundred day simple moving average of $13.35. The stock has a market capitalization of $168.27 million, a P/E ratio of 39.84 and a beta of 1.24.

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

CSP Cuts Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, March 8th. Shareholders 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 22.99%.

Insider Transactions at CSP

In other CSP news, insider Joseph R. Nerges bought 1,940 shares of CSP stock in a transaction dated Monday, March 11th. The stock was bought at an average cost of $17.97 per share, for a total transaction 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 purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. In the last three months, insiders acquired 3,140 shares of company stock worth $57,400. 15.30% of the stock is owned by company insiders.

Institutional Trading of CSP

Several institutional investors have recently added to or reduced their stakes in CSPI. JPMorgan Chase & Co. raised its holdings in CSP by 100.0% in the 1st quarter. JPMorgan Chase & Co. now owns 4,000 shares of the information technology services provider’s stock valued at $31,000 after acquiring an additional 2,000 shares in the last quarter. State Street Corp acquired a new position in shares of CSP during the 1st quarter worth $80,000. Envestnet Asset Management Inc. acquired a new position in shares of CSP during the 3rd quarter worth $283,000. Dimensional Fund Advisors LP raised its holdings in shares of CSP by 1.3% during the 1st quarter. Dimensional Fund Advisors LP now owns 268,958 shares of the information technology services provider’s stock worth $3,650,000 after buying an additional 3,374 shares in the last quarter. Finally, Renaissance Technologies LLC raised its holdings in shares of CSP by 2.5% during the 1st quarter. Renaissance Technologies LLC now owns 162,963 shares of the information technology services provider’s stock worth $2,215,000 after buying an additional 3,900 shares in the last quarter. 26.74% of the stock is currently owned by institutional investors.

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.