CSP Inc. (NASDAQ:CSPI) Director C Shelton James Sells 2,000 Shares

CSP Inc. (NASDAQ:CSPI) Director C Shelton James sold 2,000 shares of the business’s stock in a transaction that occurred on Wednesday, August 21st. The stock was sold at an average price of $14.25, for a total transaction of $28,500.00. Following the transaction, the director now owns 109,606 shares of the company’s stock, valued at approximately $1,561,885.50. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link.

CSP Stock Down 2.7 %

NASDAQ CSPI opened at $13.91 on Friday. The firm has a market cap of $135.68 million, a PE ratio of 24.84 and a beta of 1.38. The company has a 50 day moving average price of $14.75 and a 200 day moving average price of $16.05. CSP Inc. has a 52 week low of $6.80 and a 52 week high of $29.92.

CSP Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 10th. Investors of record on Friday, August 23rd will be paid a dividend of $0.03 per share. The ex-dividend date is Friday, August 23rd. This represents a $0.12 annualized dividend and a dividend yield of 0.86%. CSP’s dividend payout ratio (DPR) is presently 21.43%.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the company. Vanguard Group Inc. increased its stake in CSP by 102.4% during the 1st quarter. Vanguard Group Inc. now owns 409,566 shares of the information technology services provider’s stock valued at $7,561,000 after purchasing an additional 207,253 shares in the last quarter. O Shaughnessy Asset Management LLC acquired a new position in CSP during the 1st quarter valued at approximately $276,000. American Century Companies Inc. acquired a new position in CSP during the 2nd quarter valued at approximately $503,000. Renaissance Technologies LLC increased its stake in CSP by 3.7% during the 2nd quarter. Renaissance Technologies LLC now owns 442,226 shares of the information technology services provider’s stock valued at $6,589,000 after purchasing an additional 15,800 shares in the last quarter. Finally, Mercer Global Advisors Inc. ADV increased its stake in CSP by 122.5% during the 2nd quarter. Mercer Global Advisors Inc. ADV now owns 197,556 shares of the information technology services provider’s stock valued at $2,944,000 after purchasing an additional 108,778 shares in the last quarter. Institutional investors own 26.74% of the company’s stock.

Analysts Set New Price Targets

Separately, StockNews.com lowered shares of CSP from a “buy” rating to a “hold” rating in a research note on Tuesday.

CSP Company Profile

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.