ScanSource (NASDAQ:SCSC) CFO Sells $567,600.00 in Stock

ScanSource, Inc. (NASDAQ:SCSC) CFO Stephen Jones sold 10,000 shares of ScanSource 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 sale, the chief financial officer directly owned 87,421 shares in the company, valued at approximately $4,962,015.96. This trade represents a 10.26% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible 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. ScanSource, Inc. has a 1 year low of $33.76 and a 1 year high of $66.78. The stock has a fifty day moving average of $54.56 and a two-hundred day moving average of $45.82. 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 firm has a market capitalization of $1.18 billion, a PE ratio of 15.98, a price-to-earnings-growth ratio of 0.85 and a beta of 1.24.

ScanSource (NASDAQ:SCSC) last posted its quarterly earnings data on Thursday, August 20th. The industrial products company reported $1.46 earnings per share for the quarter, topping the consensus estimate 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 quarter in the prior year, the company posted $1.02 earnings per share. As a group, research analysts expect that ScanSource, Inc. will post 4.56 EPS for the current year.

Wall Street Analysts Forecast Growth

SCSC has been the topic of several recent analyst reports. Wall Street Zen raised ScanSource from a “buy” rating to a “strong-buy” rating in a report on Saturday, August 29th. Northcoast Research cut ScanSource from a “buy” rating to a “neutral” rating in a research report on Monday, August 17th. Zacks Research raised ScanSource from a “hold” rating to a “strong-buy” rating in a research note on Monday, August 24th. Finally, Weiss Ratings restated a “hold (c+)” rating on shares of ScanSource in a report on Wednesday, August 26th. One investment 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, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $43.00.

Institutional Trading of ScanSource

Several institutional investors and hedge funds have recently added to or reduced their stakes in SCSC. BlackRock Inc. acquired a new position in shares of ScanSource in the 2nd quarter valued at $200,140,000. California State Teachers Retirement System raised its holdings in ScanSource by 4,972.0% during the 2nd quarter. California State Teachers Retirement System now owns 1,338,036 shares of the industrial products company’s stock worth $69,698,000 after buying an additional 1,311,655 shares during the period. Pzena Investment Management LLC purchased a new stake in ScanSource during the second quarter valued at about $57,807,000. Wasatch Advisors LP lifted 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 valued at $50,130,000 after buying an additional 294,624 shares in the last quarter. Finally, LSV Asset Management boosted its holdings in shares of ScanSource by 40.6% in the fourth quarter. LSV Asset Management now owns 847,863 shares of the industrial products company’s stock worth $33,118,000 after buying an additional 244,903 shares during the period. 97.91% of the stock is owned by institutional investors and hedge funds.

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.