ScanSource (NASDAQ:SCSC) CAO Brandy Ford Sells 5,293 Shares of Stock

ScanSource, Inc. (NASDAQ:SCSC) CAO Brandy Ford sold 5,293 shares of the business’s stock in a transaction that occurred on Friday, September 4th. The stock was sold at an average price of $57.43, for a total transaction of $303,976.99. Following the sale, the chief accounting officer directly owned 9,907 shares in the company, valued at approximately $568,959.01. This represents a 34.82% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink.

ScanSource Price Performance

Shares of SCSC opened at $58.48 on Friday. 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. 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 1-year low of $33.76 and a 1-year high of $66.78. The company’s fifty day moving average price is $54.56 and its 200-day moving average price is $45.82.

ScanSource (NASDAQ:SCSC) last issued 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 company had revenue of $953.11 million during the quarter, compared to analyst estimates of $814.35 million. During the same quarter last year, the business posted $1.02 EPS. The firm’s quarterly revenue was up 17.3% on a year-over-year basis. On average, equities research analysts predict that ScanSource, Inc. will post 4.56 EPS for the current year.

Hedge Funds Weigh In On ScanSource

Institutional investors have recently made changes to their positions in the company. Canada Pension Plan Investment Board purchased a new stake in ScanSource during the second quarter worth $25,000. Royal Bank of Canada increased its holdings in 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 buying an additional 1,168 shares in the last quarter. Osaic Holdings Inc. raised its position 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 worth $87,000 after acquiring an additional 1,670 shares during the period. Freestone Grove Partners LP purchased a new stake in shares of ScanSource during the 2nd quarter worth about $119,000. Finally, Mitsubishi UFJ Asset Management Co. Ltd. acquired a new stake in shares of ScanSource during the 2nd quarter valued at about $134,000. 97.91% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of equities research analysts recently commented on the company. Weiss Ratings reiterated a “hold (c+)” rating on shares of ScanSource in a research report on Wednesday, August 26th. Wall Street Zen raised shares of ScanSource from a “buy” rating to a “strong-buy” rating in a research report on Saturday, August 29th. 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 cut shares of ScanSource from a “buy” rating to a “neutral” rating in a report on Monday, August 17th. One equities research analyst has rated the stock with a Strong Buy rating and three have issued a Hold rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average 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.