ScanSource, Inc. (NASDAQ:SCSC) Short Interest Down 15.9% in February

ScanSource, Inc. (NASDAQ:SCSC) was the target of a significant decline in short interest during the month of February. As of February 13th, there was short interest totaling 586,940 shares, a decline of 15.9% from the January 29th total of 697,963 shares. Approximately 2.8% of the company’s stock are short sold. Based on an average daily trading volume, of 332,141 shares, the short-interest ratio is presently 1.8 days. Based on an average daily trading volume, of 332,141 shares, the short-interest ratio is presently 1.8 days. Approximately 2.8% of the company’s stock are short sold.

Insider Activity at ScanSource

In other news, CEO Michael L. Baur sold 9,459 shares of the business’s stock in a transaction dated Tuesday, December 16th. The shares were sold at an average price of $41.42, for a total value of $391,791.78. Following the completion of the sale, the chief executive officer owned 182,512 shares of the company’s stock, valued at approximately $7,559,647.04. The trade was a 4.93% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Stephen Jones sold 5,020 shares of the stock in a transaction dated Thursday, December 11th. The stock was sold at an average price of $42.30, for a total transaction of $212,346.00. Following the transaction, the chief financial officer directly owned 83,326 shares in the company, valued at $3,524,689.80. The trade was a 5.68% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 25,020 shares of company stock valued at $1,035,669 over the last ninety days. Corporate insiders own 3.18% of the company’s stock.

Hedge Funds Weigh In On ScanSource

A number of institutional investors and hedge funds have recently added to or reduced their stakes in SCSC. Y Intercept Hong Kong Ltd bought a new position in shares of ScanSource during the 3rd quarter valued at about $611,000. LSV Asset Management lifted its stake in ScanSource by 11.9% during the third quarter. LSV Asset Management now owns 602,960 shares of the industrial products company’s stock valued at $26,524,000 after purchasing an additional 64,300 shares during the last quarter. JPMorgan Chase & Co. boosted its holdings in ScanSource by 15.9% during the third quarter. JPMorgan Chase & Co. now owns 430,267 shares of the industrial products company’s stock worth $18,927,000 after buying an additional 58,947 shares in the last quarter. New York State Common Retirement Fund grew its position in ScanSource by 326.9% in the third quarter. New York State Common Retirement Fund now owns 36,696 shares of the industrial products company’s stock worth $1,614,000 after buying an additional 28,100 shares during the last quarter. Finally, Envestnet Asset Management Inc. grew its position in ScanSource by 90.4% in the second quarter. Envestnet Asset Management Inc. now owns 14,151 shares of the industrial products company’s stock worth $592,000 after buying an additional 6,720 shares during the last quarter. 97.91% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

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

ScanSource Stock Performance

SCSC traded up $0.62 during trading on Wednesday, reaching $37.69. 14,352 shares of the company were exchanged, compared to its average volume of 215,687. ScanSource has a 52 week low of $28.75 and a 52 week 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 firm has a 50 day moving average of $39.26 and a 200 day moving average of $41.24. The stock has a market cap of $809.58 million, a P/E ratio of 11.56, a PEG ratio of 0.62 and a beta of 1.29.

ScanSource (NASDAQ:SCSC) last announced its quarterly earnings results on Thursday, February 5th. The industrial products company reported $0.80 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.00 by ($0.20). ScanSource had a net margin of 2.44% and a return on equity of 9.35%. The firm had revenue of $766.51 million for the quarter, compared to analyst estimates of $782.46 million. During the same period last year, the firm posted $0.85 EPS. The business’s revenue was up 2.5% compared to the same quarter last year. On average, sell-side analysts forecast that ScanSource will post 3.33 EPS for the current fiscal year.

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.