ScanSource (NASDAQ:SCSC) Director Charles Alexander Mathis Acquires 6,000 Shares of Stock

ScanSource, Inc. (NASDAQ:SCSC) Director Charles Alexander Mathis purchased 6,000 shares of the stock in a transaction that occurred on Wednesday, February 11th. The shares were purchased at an average price of $35.20 per share, with a total value of $211,200.00. Following the completion of the acquisition, the director directly owned 24,793 shares in the company, valued at $872,713.60. The trade was a 31.93% increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link.

ScanSource Price Performance

SCSC opened at $35.72 on Friday. ScanSource, Inc. has a 52-week low of $28.75 and a 52-week high of $46.25. The company has a debt-to-equity ratio of 0.11, a quick ratio of 1.22 and a current ratio of 1.96. The stock has a market capitalization of $767.27 million, a PE ratio of 10.96, a price-to-earnings-growth ratio of 0.59 and a beta of 1.28. The stock’s 50 day moving average price is $40.34 and its 200-day moving average price is $41.58.

ScanSource (NASDAQ:SCSC) last announced its quarterly earnings results on Thursday, February 5th. The industrial products company reported $0.80 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.00 by ($0.20). ScanSource had a return on equity of 9.35% and a net margin of 2.44%.The firm had revenue of $766.51 million during the quarter, compared to the consensus estimate of $782.46 million. During the same quarter in the previous year, the firm earned $0.85 EPS. The business’s revenue for the quarter was up 2.5% on a year-over-year basis. On average, equities research analysts predict that ScanSource, Inc. will post 3.33 EPS for the current year.

Hedge Funds Weigh In On ScanSource

Large investors have recently added to or reduced their stakes in the stock. Vanguard Group Inc. raised its holdings in ScanSource by 2.9% in the 4th 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. Wasatch Advisors LP increased its position in shares of 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 acquiring an additional 294,624 shares during the last quarter. American Century Companies Inc. raised its stake in shares of ScanSource by 4.4% in the 2nd quarter. American Century Companies Inc. now owns 854,624 shares of the industrial products company’s stock valued at $35,732,000 after acquiring an additional 36,161 shares during the period. LSV Asset Management lifted its holdings in shares of ScanSource by 40.6% in the 4th quarter. LSV Asset Management now owns 847,863 shares of the industrial products company’s stock worth $33,118,000 after acquiring an additional 244,903 shares during the last quarter. Finally, Geode Capital Management LLC boosted its position in shares of ScanSource by 2.4% during the 4th quarter. Geode Capital Management LLC now owns 562,109 shares of the industrial products company’s stock worth $21,960,000 after purchasing an additional 13,318 shares during the period. 97.91% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

SCSC has been the subject of several research reports. Zacks Research cut ScanSource from a “hold” rating to a “strong sell” rating in a report on Monday, February 9th. Weiss Ratings reaffirmed a “hold (c)” rating on shares of ScanSource in a research report on Monday, December 29th. Finally, Wall Street Zen downgraded ScanSource from a “buy” rating to a “hold” rating in a report on Saturday, January 17th. One investment analyst has rated the stock with a Buy rating, two have given a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of $42.50.

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.