ScanSource (NASDAQ:SCSC) CAO Brandy Ford Sells 5,293 Shares of Stock

ScanSource, Inc. (NASDAQ:SCSC) CAO Brandy Ford sold 5,293 shares of the company’s stock in a transaction that occurred on Friday, September 4th. The shares were sold at an average price of $57.43, for a total value of $303,976.99. Following the sale, the chief accounting officer directly owned 9,907 shares of the company’s stock, valued at approximately $568,959.01. This represents a 34.82% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink.

ScanSource Stock Performance

Shares of SCSC stock traded up $0.62 during midday trading on Friday, hitting $58.48. The company had a trading volume of 281,325 shares, compared to its average volume of 236,077. The stock has a market cap of $1.18 billion, a price-to-earnings ratio of 15.98, a PEG ratio of 0.83 and a beta of 1.24. The company has a debt-to-equity ratio of 0.11, a current ratio of 1.76 and a quick ratio of 1.15. The company’s 50 day simple moving average is $54.41 and its 200 day simple moving average is $45.73. ScanSource, Inc. has a 52-week low of $33.76 and a 52-week high of $66.78.

ScanSource (NASDAQ:SCSC) last issued its quarterly earnings results on Thursday, August 20th. The industrial products company reported $1.46 earnings per share for the quarter, topping the consensus estimate of $1.14 by $0.32. The firm had revenue of $953.11 million during 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 company’s revenue for the quarter was up 17.3% on a year-over-year basis. During the same period last year, the company earned $1.02 earnings per share. Research analysts anticipate that ScanSource, Inc. will post 4.56 earnings per share for the current fiscal year.

Analyst Ratings Changes

SCSC has been the subject of a number of analyst reports. Weiss Ratings reissued a “hold (c+)” rating on shares of ScanSource in a research note on Wednesday, August 26th. Wall Street Zen upgraded ScanSource from a “buy” rating to a “strong-buy” rating in a research report on Saturday, August 29th. Northcoast Research downgraded ScanSource from a “buy” rating to a “neutral” rating in a report on Monday, August 17th. Finally, Zacks Research upgraded shares of 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 assigned a Hold rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $43.00.

Institutional Investors Weigh In On ScanSource

A number of large investors have recently added to or reduced their stakes in the business. Canada Pension Plan Investment Board purchased a new stake in shares of ScanSource in the second quarter valued at about $25,000. Royal Bank of Canada raised its position in shares of ScanSource by 165.0% during the 4th quarter. Royal Bank of Canada now owns 1,876 shares of the industrial products company’s stock worth $73,000 after purchasing an additional 1,168 shares during the last quarter. Osaic Holdings Inc. raised its position in shares of ScanSource by 400.5% during the 2nd quarter. Osaic Holdings Inc. now owns 2,087 shares of the industrial products company’s stock worth $87,000 after purchasing an additional 1,670 shares during the last quarter. Freestone Grove Partners LP purchased a new stake in ScanSource in the 2nd quarter valued at approximately $119,000. Finally, Mitsubishi UFJ Asset Management Co. Ltd. purchased a new stake in ScanSource in the 2nd quarter valued at approximately $134,000. 97.91% of the stock is owned by institutional investors and hedge funds.

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.