ScanSource (NASDAQ:SCSC) CFO Stephen Jones Sells 10,000 Shares

ScanSource, Inc. (NASDAQ:SCSC) CFO Stephen Jones sold 10,000 shares of the stock in a transaction on Thursday, September 3rd. The stock was sold at an average price of $56.76, for a total transaction of $567,600.00. Following the sale, the chief financial officer directly owned 87,421 shares of the company’s stock, valued at $4,962,015.96. This represents a 10.26% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards.

ScanSource Trading Up 2.2%

SCSC opened at $57.86 on Friday. The stock has a market capitalization of $1.17 billion, a P/E ratio of 15.81, a P/E/G ratio of 0.83 and a beta of 1.24. ScanSource, Inc. has a 12 month low of $33.76 and a 12 month high of $66.78. The firm’s fifty day simple moving average is $54.41 and its 200 day simple moving average is $45.73. The company has a current ratio of 1.76, a quick ratio of 1.15 and a debt-to-equity ratio of 0.11.

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

Institutional Trading of ScanSource

Several hedge funds have recently added to or reduced their stakes in the company. Canada Pension Plan Investment Board acquired a new stake in shares of ScanSource during the second quarter worth $25,000. Royal Bank of Canada boosted its position in shares of ScanSource by 165.0% in the fourth quarter. Royal Bank of Canada now owns 1,876 shares of the industrial products company’s stock valued at $73,000 after acquiring an additional 1,168 shares during the period. Osaic Holdings Inc. grew its stake in shares of ScanSource by 400.5% in the second quarter. Osaic Holdings Inc. now owns 2,087 shares of the industrial products company’s stock valued at $87,000 after acquiring an additional 1,670 shares in the last quarter. Freestone Grove Partners LP acquired a new position in shares of ScanSource in the second quarter valued at about $119,000. Finally, Mitsubishi UFJ Asset Management Co. Ltd. bought a new position in ScanSource during the second quarter worth about $134,000. 97.91% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

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

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.