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

CSP Inc. (NASDAQ:CSPI) announced a quarterly dividend on Thursday, February 12th. Shareholders of record on Thursday, February 26th will be given a dividend of 0.03 per share by the information technology services provider on Thursday, March 12th. This represents a c) dividend on an annualized basis and a yield of 1.3%. The ex-dividend date of this dividend is Thursday, February 26th.

CSP has decreased its dividend by an average of 0.0%per year over the last three years and has raised its dividend annually for the last 2 consecutive years.

CSP Stock Down 8.5%

CSPI stock opened at $9.19 on Friday. The company has a market capitalization of $90.98 million, a price-to-earnings ratio of -919.00 and a beta of 0.73. The firm has a 50 day moving average of $12.11 and a two-hundred day moving average of $11.85. CSP has a 12 month low of $8.89 and a 12 month high of $20.39.

CSP (NASDAQ:CSPI) last posted its earnings results on Thursday, February 12th. The information technology services provider reported $0.01 earnings per share for the quarter. The company had revenue of $12.04 million for the quarter. CSP had a negative return on equity of 0.27% and a negative net margin of 0.21%.

Institutional Trading of CSP

Hedge funds have recently modified their holdings of the company. Goldman Sachs Group Inc. increased its holdings in CSP by 66.0% in the 1st quarter. Goldman Sachs Group Inc. now owns 29,800 shares of the information technology services provider’s stock valued at $457,000 after buying an additional 11,850 shares during the period. Jane Street Group LLC increased its stake in CSP by 73.4% in the first quarter. Jane Street Group LLC now owns 27,640 shares of the information technology services provider’s stock valued at $424,000 after acquiring an additional 11,703 shares during the period. Geode Capital Management LLC lifted its stake in CSP by 113.0% during the second quarter. Geode Capital Management LLC now owns 158,355 shares of the information technology services provider’s stock worth $2,049,000 after purchasing an additional 83,999 shares during the period. Police & Firemen s Retirement System of New Jersey acquired a new stake in CSP during the second quarter valued at approximately $33,000. Finally, JPMorgan Chase & Co. grew its stake in shares of CSP by 14.4% in the 2nd quarter. JPMorgan Chase & Co. now owns 26,079 shares of the information technology services provider’s stock valued at $337,000 after purchasing an additional 3,279 shares during the period. Institutional investors own 26.74% of the company’s stock.

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.