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

ScanSource, Inc. (NASDAQ:SCSC) CFO Stephen Jones sold 10,000 shares of the stock in a transaction that occurred on Thursday, September 3rd. The shares were sold at an average price of $56.76, for a total value of $567,600.00. Following the completion of the sale, the chief financial officer directly owned 87,421 shares of the company’s stock, valued at $4,962,015.96. This represents a 10.26% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. The sale was made to cover tax withholding obligations related to the vesting of equity awards.

ScanSource Trading Up 1.1%

Shares of SCSC stock opened at $58.48 on Friday. The firm has a market capitalization of $1.18 billion, a P/E ratio of 15.98, a price-to-earnings-growth ratio of 0.85 and a beta of 1.24. ScanSource, Inc. has a 1 year low of $33.76 and a 1 year high of $66.78. The firm’s fifty day simple moving average is $54.56 and its 200 day simple moving average is $45.82. The company has a current ratio of 1.76, a quick ratio of 1.15 and a debt-to-equity ratio of 0.11.

ScanSource (NASDAQ:SCSC) last issued its quarterly earnings results on Thursday, August 20th. The industrial products company reported $1.46 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.14 by $0.32. The firm had revenue of $953.11 million for the quarter, compared to analyst estimates of $814.35 million. ScanSource had a return on equity of 10.10% and a net margin of 2.44%.The company’s quarterly revenue was up 17.3% compared to the same quarter last year. During the same period in the previous year, the company posted $1.02 earnings per share. As a group, sell-side analysts predict that ScanSource, Inc. will post 4.56 EPS for the current year.

Institutional Inflows and Outflows

Several hedge funds have recently modified their holdings of SCSC. Amundi lifted its holdings in ScanSource by 35.1% in the first quarter. Amundi now owns 26,464 shares of the industrial products company’s stock valued at $836,000 after buying an additional 6,880 shares during the period. AQR Capital Management LLC lifted its stake in shares of ScanSource by 3.8% in the 1st quarter. AQR Capital Management LLC now owns 128,574 shares of the industrial products company’s stock valued at $4,373,000 after purchasing an additional 4,693 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its position in shares of ScanSource by 2.2% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 13,859 shares of the industrial products company’s stock worth $471,000 after purchasing an additional 295 shares during the last quarter. Millennium Management LLC grew its stake in shares of ScanSource by 8.4% during the first quarter. Millennium Management LLC now owns 259,808 shares of the industrial products company’s stock worth $8,836,000 after purchasing an additional 20,086 shares during the period. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its holdings in ScanSource by 35.3% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 61,513 shares of the industrial products company’s stock valued at $2,092,000 after purchasing an additional 16,044 shares during the last quarter. Institutional investors own 97.91% of the company’s stock.

Analyst Ratings Changes

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

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.