CSP Inc. (NASDAQ:CSPI) Raises Dividend to $0.03 Per Share

CSP Inc. (NASDAQ:CSPI) announced a quarterly dividend on Wednesday, May 8th, Zacks reports. Investors of record on Friday, May 24th will be paid a dividend of 0.03 per share by the information technology services provider on Wednesday, June 12th. This represents a $0.12 annualized dividend and a dividend yield of 0.90%. The ex-dividend date of this dividend is Thursday, May 23rd. This is an increase from CSP’s previous quarterly dividend of $0.03.

CSP Stock Up 1.6 %

NASDAQ:CSPI traded up $0.21 during mid-day trading on Friday, hitting $13.29. 37,489 shares of the company traded hands, compared to its average volume of 152,829. The stock’s fifty day moving average price is $17.67 and its 200-day moving average price is $14.06. CSP has a one year low of $4.91 and a one year high of $29.92. The firm has a market cap of $129.10 million, a price-to-earnings ratio of 31.23 and a beta of 1.30.

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

Analyst Ratings Changes

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

Insider Buying and Selling at CSP

In other CSP news, insider Joseph R. Nerges bought 1,940 shares of the business’s stock in a transaction dated 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 completion of the purchase, the insider now owns 1,335,366 shares in the company, valued at approximately $23,989,850.19. The purchase was disclosed in a filing with the SEC, which is accessible through this hyperlink. Insiders have purchased a total of 3,140 shares of company stock worth $57,400 over the last ninety days. Company insiders own 15.30% of the company’s stock.

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.