ScanSource (NASDAQ:SCSC) CFO Sells 10,000 Shares of Stock

ScanSource, Inc. (NASDAQ:SCSC) CFO Stephen Jones sold 10,000 shares of the stock in a transaction on Thursday, September 3rd. The stock was sold at an average price of $56.76, for a total transaction of $567,600.00. Following the transaction, the chief financial officer directly owned 87,421 shares in the company, valued at $4,962,015.96. The trade was a 10.26% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards.

ScanSource Stock Up 2.2%

Shares of SCSC traded up $1.22 during trading hours on Thursday, hitting $57.86. 236,575 shares of the company were exchanged, compared to its average volume of 335,598. The company has a market cap of $1.17 billion, a PE ratio of 15.81, a PEG ratio of 0.83 and a beta of 1.24. The firm’s 50 day moving average is $54.41 and its 200-day moving average is $45.73. ScanSource, Inc. has a 52 week low of $33.76 and a 52 week high of $66.78. The company has a debt-to-equity ratio of 0.11, a quick ratio of 1.15 and a current ratio of 1.76.

ScanSource (NASDAQ:SCSC) last issued its quarterly earnings data on Thursday, August 20th. The industrial products company reported $1.46 earnings per share for the quarter, beating analysts’ consensus estimates of $1.14 by $0.32. The business had revenue of $953.11 million for the quarter, compared to the consensus estimate of $814.35 million. ScanSource had a return on equity of 10.10% and a net margin of 2.44%.The firm’s revenue was up 17.3% compared to the same quarter last year. During the same period last year, the business earned $1.02 EPS. On average, equities research analysts forecast that ScanSource, Inc. will post 4.56 EPS for the current fiscal year.

Analyst Ratings Changes

A number of research analysts recently issued reports on SCSC shares. Northcoast Research lowered shares of ScanSource from a “buy” rating to a “neutral” rating in a research note on Monday, August 17th. Weiss Ratings reaffirmed a “hold (c+)” rating on shares of ScanSource in a research report on Wednesday, August 26th. Wall Street Zen raised ScanSource from a “buy” rating to a “strong-buy” rating in a report on Saturday, August 29th. Finally, Zacks Research upgraded ScanSource from a “hold” rating to a “strong-buy” rating in a research report on Monday, August 24th. One analyst has rated the stock with a Strong Buy rating and three have issued a Hold rating to the stock. According to data from MarketBeat.com, ScanSource currently has an average rating of “Moderate Buy” and a consensus price target of $43.00.

Institutional Investors Weigh In On ScanSource

A number of institutional investors and hedge funds have recently added to or reduced their stakes in SCSC. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its holdings in shares of ScanSource by 2.2% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 13,859 shares of the industrial products company’s stock valued at $471,000 after purchasing an additional 295 shares in the last quarter. Royce & Associates LP lifted its position in ScanSource by 1.7% in the 4th quarter. Royce & Associates LP now owns 26,088 shares of the industrial products company’s stock valued at $1,019,000 after acquiring an additional 433 shares in the last quarter. Summit Global Investments boosted its stake in ScanSource by 3.3% in the 4th quarter. Summit Global Investments now owns 14,177 shares of the industrial products company’s stock worth $554,000 after purchasing an additional 451 shares during the period. WINTON GROUP Ltd increased its holdings in ScanSource by 2.0% during the 4th quarter. WINTON GROUP Ltd now owns 26,020 shares of the industrial products company’s stock worth $1,016,000 after purchasing an additional 510 shares in the last quarter. Finally, Franklin Resources Inc. raised its stake in shares of ScanSource by 1.6% in the 3rd quarter. Franklin Resources Inc. now owns 36,424 shares of the industrial products company’s stock valued at $1,602,000 after purchasing an additional 567 shares during the period. Institutional investors own 97.91% of the company’s stock.

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.