ScanSource (NASDAQ:SCSC) CAO Sells $303,976.99 in Stock

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

ScanSource Price Performance

SCSC stock traded up $0.62 during trading on Friday, hitting $58.48. The stock 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 price-to-earnings-growth ratio of 0.83 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. The company’s 50 day moving average price is $54.41 and its two-hundred day moving average price is $45.73. ScanSource, Inc. has a 1-year low of $33.76 and a 1-year high of $66.78.

ScanSource (NASDAQ:SCSC) last issued its quarterly earnings results on Thursday, August 20th. The industrial products company reported $1.46 EPS for the quarter, topping analysts’ consensus estimates of $1.14 by $0.32. The business had revenue of $953.11 million during the quarter, compared to the consensus estimate of $814.35 million. ScanSource had a net margin of 2.44% and a return on equity of 10.10%. 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 firm posted $1.02 earnings per share. On average, sell-side analysts forecast that ScanSource, Inc. will post 4.56 EPS for the current fiscal year.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. BlackRock Inc. acquired a new stake in ScanSource during the second quarter worth about $200,140,000. Vanguard Group Inc. raised its holdings in ScanSource by 2.9% in the fourth quarter. Vanguard Group Inc. now owns 2,827,007 shares of the industrial products company’s stock valued at $110,423,000 after buying an additional 78,993 shares during the period. California State Teachers Retirement System lifted its position in ScanSource by 4,972.0% during 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 in the last quarter. Wasatch Advisors LP grew its stake in ScanSource by 34.9% during the third quarter. Wasatch Advisors LP now owns 1,139,573 shares of the industrial products company’s stock worth $50,130,000 after buying an additional 294,624 shares during the period. Finally, Pzena Investment Management LLC acquired a new stake in shares of ScanSource in the second quarter worth $57,807,000. Institutional investors and hedge funds own 97.91% of the company’s stock.

Analyst Ratings Changes

A number of research analysts have weighed in on the company. Wall Street Zen raised ScanSource from a “buy” rating to a “strong-buy” rating in a research note on Saturday, August 29th. Weiss Ratings reiterated a “hold (c+)” rating on shares of ScanSource in a research report on Wednesday, August 26th. Northcoast Research cut ScanSource from a “buy” rating to a “neutral” rating in a report on Monday, August 17th. Finally, Zacks Research raised shares of ScanSource from a “hold” rating to a “strong-buy” rating in a research note on Monday, August 24th. One equities research analyst has rated the stock with a Strong Buy rating and three have assigned a Hold rating to the company. Based on data from MarketBeat, ScanSource currently has an average rating of “Moderate Buy” and an average 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.