ScanSource (NASDAQ:SCSC) Stock Price Crosses Above 200 Day Moving Average – Should You Sell?

ScanSource, Inc. (NASDAQ:SCSC) shares passed above its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of $41.73 and traded as high as $42.63. ScanSource shares last traded at $42.56, with a volume of 155,301 shares traded.

Wall Street Analyst Weigh In

Several equities research analysts have recently commented on SCSC shares. Zacks Research lowered ScanSource from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, October 21st. Weiss Ratings restated a “hold (c)” rating on shares of ScanSource in a research report on Monday, December 29th. Wall Street Zen cut ScanSource from a “buy” rating to a “hold” rating in a research report on Saturday, January 17th. Finally, Barclays started coverage on shares of ScanSource in a report on Tuesday, October 7th. They issued an “equal weight” rating and a $43.00 target price for the company. One investment analyst has rated the stock with a Buy rating and three have given a Hold rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus target price of $42.50.

ScanSource Stock Up 1.0%

The firm has a market capitalization of $943.20 million, a P/E ratio of 13.39, a P/E/G ratio of 0.69 and a beta of 1.29. The company has a current ratio of 2.16, a quick ratio of 1.32 and a debt-to-equity ratio of 0.14. The company has a 50 day simple moving average of $40.86 and a two-hundred day simple moving average of $41.74.

ScanSource (NASDAQ:SCSC) last issued its earnings results on Thursday, November 6th. The industrial products company reported $1.06 earnings per share for the quarter, topping analysts’ consensus estimates of $0.91 by $0.15. The firm had revenue of $739.65 million during the quarter, compared to analyst estimates of $787.37 million. ScanSource had a net margin of 2.48% and a return on equity of 9.72%. ScanSource’s revenue for the quarter was down 4.6% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.84 earnings per share. On average, equities analysts predict that ScanSource, Inc. will post 3.33 EPS for the current fiscal year.

Insider Activity at ScanSource

In other news, CEO Michael L. Baur sold 9,459 shares of the stock in a transaction dated Tuesday, December 16th. The stock was sold at an average price of $41.42, for a total value of $391,791.78. Following the transaction, the chief executive officer directly owned 182,512 shares of the company’s stock, valued at approximately $7,559,647.04. This represents a 4.93% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Stephen Jones sold 5,020 shares of the stock in a transaction on Thursday, December 11th. The stock was sold at an average price of $42.30, for a total transaction of $212,346.00. Following the completion of the sale, the chief financial officer 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 in the last ninety days. Insiders own 3.18% of the company’s stock.

Hedge Funds Weigh In On ScanSource

Several hedge funds have recently made changes to their positions in the company. UBS Group AG boosted its stake in shares of ScanSource by 16.1% during the fourth quarter. UBS Group AG now owns 88,590 shares of the industrial products company’s stock worth $3,460,000 after buying an additional 12,258 shares during the period. Vanguard Group Inc. boosted its holdings in ScanSource by 2.9% in the 4th quarter. Vanguard Group Inc. now owns 2,827,007 shares of the industrial products company’s stock valued at $110,423,000 after purchasing an additional 78,993 shares in the last quarter. B. Metzler seel. Sohn & Co. AG raised its stake in shares of ScanSource by 39.2% during the 4th quarter. B. Metzler seel. Sohn & Co. AG now owns 31,467 shares of the industrial products company’s stock worth $1,229,000 after buying an additional 8,865 shares in the last quarter. Teacher Retirement System of Texas lifted its holdings in shares of ScanSource by 333.8% in the 4th quarter. Teacher Retirement System of Texas now owns 153,041 shares of the industrial products company’s stock valued at $5,978,000 after buying an additional 117,762 shares during the period. Finally, Universal Beteiligungs und Servicegesellschaft mbH boosted its stake in shares of ScanSource by 65.3% in the fourth quarter. Universal Beteiligungs und Servicegesellschaft mbH now owns 133,593 shares of the industrial products company’s stock valued at $5,222,000 after buying an additional 52,763 shares in the last quarter. Hedge funds and other institutional investors own 97.91% of the company’s stock.

About ScanSource

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.