CSP Inc. Declares Quarterly Dividend of $0.03 (NASDAQ:CSPI)

CSP Inc. (NASDAQ:CSPI) declared a quarterly dividend on Tuesday, August 13th, Zacks reports. Investors of record on Friday, August 23rd will be given a dividend of 0.03 per share by the information technology services provider on Tuesday, September 10th. This represents a $0.12 annualized dividend and a yield of 0.91%. The ex-dividend date of this dividend is Friday, August 23rd.

CSP Stock Performance

NASDAQ CSPI traded down $0.09 on Thursday, hitting $13.18. The stock had a trading volume of 29,520 shares, compared to its average volume of 106,628. The firm has a 50-day moving average of $14.78 and a 200-day moving average of $15.96. CSP has a 52-week low of $6.68 and a 52-week high of $29.92. The company has a market capitalization of $128.56 million, a price-to-earnings ratio of 23.64 and a beta of 1.38.

Insider Buying and Selling at CSP

In related news, major shareholder Joseph R. Nerges bought 2,200 shares of the company’s stock in a transaction on Friday, May 31st. The stock was acquired at an average cost of $14.21 per share, for a total transaction of $31,262.00. Following the completion of the transaction, the insider now directly owns 1,352,602 shares in the company, valued at approximately $19,220,474.42. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. In other news, major shareholder Joseph R. Nerges purchased 2,000 shares of the company’s stock in a transaction on Friday, June 14th. The stock was purchased at an average price of $14.02 per share, with a total value of $28,040.00. Following the completion of the purchase, the insider now directly owns 1,360,402 shares in the company, valued at approximately $19,072,836.04. The transaction was disclosed in a legal filing with the SEC, which is available through 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 purchased at an average price of $14.21 per share, for a total transaction of $31,262.00. Following the completion of the transaction, the insider now directly owns 1,352,602 shares in the company, valued at approximately $19,220,474.42. The disclosure for this purchase can be found here. Insiders have acquired a total of 16,952 shares of company stock valued at $239,822 in the last 90 days. Corporate insiders own 16.60% of the company’s stock.

Analysts Set New Price Targets

Separately, StockNews.com downgraded CSP from a “buy” rating to a “hold” rating in a research report on Thursday, August 8th.

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.