ScanSource (NASDAQ:SCSC) Director Charles Alexander Mathis Sells 3,000 Shares

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

ScanSource Price Performance

Shares of SCSC stock opened at $58.59 on Tuesday. 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 has a market capitalization of $1.18 billion, a PE ratio of 16.01, a price-to-earnings-growth ratio of 0.85 and a beta of 1.24. The firm’s 50-day moving average is $55.29 and its two-hundred day moving average is $46.77. ScanSource, Inc. has a 12 month low of $33.76 and a 12 month high of $66.78.

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

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently modified their holdings of SCSC. BlackRock Inc. purchased a new position in ScanSource during the 2nd quarter valued at about $200,140,000. California State Teachers Retirement System grew its position in ScanSource by 4,972.0% in the 2nd 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 acquiring an additional 1,311,655 shares in the last quarter. Pzena Investment Management LLC purchased a new stake in ScanSource during the second quarter worth about $57,807,000. LSV Asset Management lifted its position in shares of ScanSource by 40.6% during the fourth quarter. LSV Asset Management now owns 847,863 shares of the industrial products company’s stock worth $33,118,000 after purchasing an additional 244,903 shares in the last quarter. Finally, SG Americas Securities LLC lifted its position in shares of ScanSource by 74.4% during the first quarter. SG Americas Securities LLC now owns 494,988 shares of the industrial products company’s stock worth $17,968,000 after purchasing an additional 211,232 shares in the last quarter. 97.91% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

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

About ScanSource

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.