Charles Alexander Mathis Acquires 6,000 Shares of ScanSource (NASDAQ:SCSC) Stock

ScanSource, Inc. (NASDAQ:SCSC) Director Charles Alexander Mathis acquired 6,000 shares of ScanSource stock in a transaction on Wednesday, February 11th. The shares were bought at an average cost of $35.20 per share, with a total value of $211,200.00. Following the completion of the purchase, the director owned 24,793 shares in the company, valued at $872,713.60. The trade was a 31.93% increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which can be accessed through this link.

ScanSource Trading Up 3.1%

NASDAQ:SCSC opened at $35.72 on Friday. ScanSource, Inc. has a 12-month low of $28.75 and a 12-month high of $46.25. The company has a current ratio of 1.96, a quick ratio of 1.22 and a debt-to-equity ratio of 0.11. The stock’s 50 day simple moving average is $40.34 and its 200-day simple moving average is $41.59. The firm has a market cap of $767.27 million, a P/E ratio of 10.96, a PEG ratio of 0.60 and a beta of 1.28.

ScanSource (NASDAQ:SCSC) last posted its quarterly earnings data on Thursday, February 5th. The industrial products company reported $0.80 earnings per share for the quarter, missing analysts’ consensus estimates of $1.00 by ($0.20). The firm had revenue of $766.51 million during the quarter, compared to analysts’ expectations of $782.46 million. ScanSource had a net margin of 2.44% and a return on equity of 9.35%. The business’s quarterly revenue was up 2.5% on a year-over-year basis. During the same quarter last year, the business earned $0.85 earnings per share. Equities analysts anticipate that ScanSource, Inc. will post 3.33 EPS for the current year.

Institutional Investors Weigh In On ScanSource

Institutional investors and hedge funds have recently modified their holdings of the company. Canada Pension Plan Investment Board acquired a new position in ScanSource during the second quarter worth $25,000. CWM LLC increased its position in shares of ScanSource by 159.6% in the third quarter. CWM LLC now owns 1,874 shares of the industrial products company’s stock valued at $82,000 after buying an additional 1,152 shares in the last quarter. Osaic Holdings Inc. boosted its position in shares of ScanSource by 400.5% in the 2nd quarter. Osaic Holdings Inc. now owns 2,087 shares of the industrial products company’s stock worth $87,000 after buying an additional 1,670 shares in the last quarter. Mitsubishi UFJ Asset Management Co. Ltd. grew its stake in ScanSource by 22.3% in the 2nd quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 2,879 shares of the industrial products company’s stock valued at $120,000 after acquiring an additional 524 shares during the last quarter. Finally, Tower Research Capital LLC TRC grew its stake in ScanSource by 672.0% in the 2nd quarter. Tower Research Capital LLC TRC now owns 4,632 shares of the industrial products company’s stock valued at $194,000 after acquiring an additional 4,032 shares during the last quarter. Institutional investors and hedge funds own 97.91% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts have issued reports on SCSC shares. Wall Street Zen cut ScanSource from a “buy” rating to a “hold” rating in a research report on Saturday, January 17th. Weiss Ratings reaffirmed a “hold (c)” rating on shares of ScanSource in a report on Monday, December 29th. Finally, Zacks Research downgraded ScanSource from a “hold” rating to a “strong sell” rating in a report on Monday, February 9th. One research analyst has rated the stock with a Buy rating, two have assigned a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $42.50.

ScanSource Company Profile

ScanSource, Inc is a global provider of technology products and solutions designed to help businesses enhance operational efficiency and customer engagement. The company specializes in the distribution of point-of-sale (POS) systems, barcode and data capture devices, networking and communications equipment, and value-added software and cloud services. By combining hardware, software and professional services, ScanSource supports channel partners in delivering end-to-end solutions across multiple industries, including retail, hospitality, healthcare and logistics.

Founded in 1992 and headquartered in Greenville, South Carolina, ScanSource has built a broad international footprint, serving customers throughout North, Central and South America as well as Europe, the Middle East and Africa.