ScanSource (NASDAQ:SCSC) Director Sells $174,000.00 in Stock

ScanSource, Inc. (NASDAQ:SCSC) Director Charles Mathis sold 3,000 shares of ScanSource stock in a transaction on Friday, September 11th. The shares were sold at an average price of $58.00, for a total transaction of $174,000.00. Following the transaction, the director owned 25,027 shares in the company, valued at approximately $1,451,566. This trade represents a 10.70% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through the SEC website.

ScanSource Price Performance

Shares of ScanSource stock traded up $0.40 during trading hours on Monday, hitting $58.59. The company’s stock had a trading volume of 208,546 shares, compared to its average volume of 237,687. The business has a 50 day moving average price of $55.15 and a two-hundred day moving average price of $46.61. ScanSource, Inc. has a 12-month low of $33.76 and a 12-month high of $66.78. The company has a market cap of $1.18 billion, a PE ratio of 16.01, a PEG ratio of 0.85 and a beta of 1.24. 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 earnings results on Thursday, August 20th. The industrial products company reported $1.46 earnings per share for the quarter, topping analysts’ consensus estimates of $1.14 by $0.32. ScanSource had a net margin of 2.44% and a return on equity of 10.10%. The firm had revenue of $953.11 million during the quarter, compared to analyst estimates of $814.35 million. During the same quarter in the prior year, the business earned $1.02 earnings per share. ScanSource’s revenue for the quarter was up 17.3% on a year-over-year basis. Analysts expect that ScanSource, Inc. will post 4.56 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

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

Institutional Trading of ScanSource

Several large investors have recently made changes to their positions in the company. Engineers Gate Manager LP purchased a new stake in shares of ScanSource during the second quarter worth $999,000. HighTower Advisors LLC purchased a new stake in shares of ScanSource during the 2nd quarter valued at approximately $246,000. VIRGINIA RETIREMENT SYSTEMS ET Al purchased a new stake in ScanSource in the second quarter valued at $474,000. California State Teachers Retirement System lifted its position in ScanSource by 4,972.0% in the second quarter. California State Teachers Retirement System now owns 1,338,036 shares of the industrial products company’s stock valued at $69,698,000 after buying an additional 1,311,655 shares during the last quarter. Finally, Susquehanna International Group LLP lifted its holdings in shares of ScanSource by 118.6% in the 2nd quarter. Susquehanna International Group LLP now owns 17,539 shares of the industrial products company’s stock worth $914,000 after acquiring an additional 9,515 shares during the last quarter. 97.91% of the stock is currently owned by hedge funds and other institutional investors.

ScanSource Company Profile

ScanSource, Inc is a technology distributor that connects manufacturers of hardware, software and cloud services with value-added resellers, systems integrators and other technology providers. The company supports partners with product distribution, technical expertise, training, financing and other services designed to help them deliver technology solutions to business and government customers.

ScanSource’s offerings include point-of-sale systems, barcode scanners, mobile computing devices, data-capture products, networking equipment and physical security technology.