CSP (NASDAQ:CSPI) Raised to Buy at StockNews.com

StockNews.com upgraded shares of CSP (NASDAQ:CSPI) from a hold rating to a buy rating in a research note issued to investors on Monday.

CSP Stock Performance

NASDAQ CSPI opened at $15.44 on Monday. The firm has a 50-day moving average of $14.76 and a 200-day moving average of $15.56. The stock has a market cap of $150.54 million, a PE ratio of 27.57 and a beta of 1.37. CSP has a 52-week low of $5.70 and a 52-week high of $29.92.

CSP (NASDAQ:CSPI) last posted its earnings results on Wednesday, May 8th. The information technology services provider reported $0.16 earnings per share (EPS) for the quarter. The company had revenue of $13.71 million during the quarter. CSP had a net margin of 8.18% and a return on equity of 10.99%.

CSP Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, June 12th. Investors of record on Friday, May 24th were given a dividend of $0.03 per share. This represents a $0.12 dividend on an annualized basis and a yield of 0.78%. This is a positive change from CSP’s previous quarterly dividend of $0.03. The ex-dividend date of this dividend was Thursday, May 23rd. CSP’s dividend payout ratio (DPR) is currently 21.43%.

Insider Buying and Selling at CSP

In other news, major shareholder Joseph R. Nerges bought 2,000 shares of the firm’s stock in a transaction on Wednesday, July 17th. The shares were purchased at an average cost of $14.38 per share, with a total value of $28,760.00. Following the acquisition, the insider now directly owns 1,371,326 shares in the company, valued at $19,719,667.88. The purchase was disclosed in a filing with the SEC, which is available through this hyperlink. In other news, major shareholder Joseph R. Nerges bought 2,000 shares of the firm’s stock in a transaction on Wednesday, July 17th. The shares were purchased at an average cost of $14.38 per share, with a total value of $28,760.00. Following the acquisition, the insider now directly owns 1,371,326 shares in the company, valued at $19,719,667.88. The purchase was disclosed in a filing with the SEC, which is available through this hyperlink. Also, major shareholder Joseph R. Nerges bought 2,810 shares of the firm’s stock in a transaction on Tuesday, May 28th. The stock was purchased at an average cost of $14.20 per share, for a total transaction of $39,902.00. Following the completion of the acquisition, the insider now owns 1,350,402 shares in the company, valued at $19,175,708.40. The disclosure for this purchase can be found here. Insiders have bought a total of 16,952 shares of company stock valued at $239,822 in the last ninety days. 16.60% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On CSP

Several hedge funds and other institutional investors have recently made changes to their positions in the stock. Vanguard Group Inc. grew its holdings in shares of 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 during the last quarter. Visionary Wealth Advisors grew its holdings 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 valued at $5,868,000 after purchasing an additional 9,363 shares during the last quarter. Navellier & Associates Inc. grew its holdings in shares of CSP by 53.4% during the 4th quarter. Navellier & Associates Inc. now owns 32,204 shares of the information technology services provider’s stock valued at $628,000 after purchasing an additional 11,215 shares during the last quarter. Finally, O Shaughnessy Asset Management LLC bought a new stake in shares of CSP during the 1st quarter valued at approximately $276,000. 26.74% of the stock is 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.