Insider Selling: ScanSource (NASDAQ:SCSC) Director Sells $174,000.00 in Stock

ScanSource, Inc. (NASDAQ:SCSC) Director Charles Mathis sold 3,000 shares of the business’s stock in a transaction dated Friday, September 11th. The shares were sold at an average price of $58.00, for a total value of $174,000.00. Following the completion of the transaction, the director owned 25,027 shares in the company, valued at $1,451,566. This trade represents a 10.70% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link.

ScanSource Stock Down 1.6%

SCSC opened at $56.72 on Thursday. The company has a market capitalization of $1.14 billion, a PE ratio of 15.50, a price-to-earnings-growth ratio of 0.84 and a beta of 1.24. The company has a debt-to-equity ratio of 0.11, a current ratio of 1.76 and a quick ratio of 1.15. ScanSource, Inc. has a fifty-two week low of $33.76 and a fifty-two week high of $66.78. The business has a 50-day moving average of $55.52 and a 200-day moving average of $47.06.

ScanSource (NASDAQ:SCSC) last announced its quarterly earnings results on Thursday, August 20th. The industrial products company reported $1.46 EPS 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 return on equity of 10.10% and a net margin of 2.44%.The firm’s quarterly revenue was up 17.3% compared to the same quarter last year. During the same quarter in the previous year, the business posted $1.02 EPS. Equities research analysts forecast that ScanSource, Inc. will post 4.56 EPS for the current fiscal year.

Analysts Set New Price Targets

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

Institutional Trading of ScanSource

A number of institutional investors and hedge funds have recently modified their holdings of SCSC. BlackRock Inc. acquired a new position in ScanSource in the 2nd quarter valued at $200,140,000. Pzena Investment Management LLC bought a new stake in ScanSource during the second quarter valued at about $57,807,000. LSV Asset Management grew its position 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 valued at $33,118,000 after purchasing an additional 244,903 shares during the last quarter. SG Americas Securities LLC grew its position in shares of ScanSource by 74.4% in the first quarter. SG Americas Securities LLC now owns 494,988 shares of the industrial products company’s stock valued at $17,968,000 after purchasing an additional 211,232 shares during the last quarter. Finally, Dana Investment Advisors Inc. increased its stake in shares of ScanSource by 7.3% in the fourth quarter. Dana Investment Advisors Inc. now owns 224,048 shares of the industrial products company’s stock worth $8,751,000 after purchasing an additional 15,196 shares during the period. 97.91% of the stock is currently owned by institutional investors and hedge funds.

ScanSource Company Profile

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.