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

by · The Cerbat Gem

ScanSource, Inc. (NASDAQ:SCSC – Get Free Report) CFO Stephen Jones sold 10,000 shares of ScanSource stock in a transaction dated 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 owned 87,421 shares of the company’s stock, valued at approximately $4,962,015.96. This trade represents a 10.26% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards.

ScanSource Trading Up 2.2%

SCSC stock traded up $1.22 during midday trading on Thursday, hitting $57.86. The stock had a trading volume of 236,575 shares, compared to its average volume of 335,598. ScanSource, Inc. has a 12-month low of $33.76 and a 12-month high of $66.78. The firm has a market cap of $1.17 billion, a PE ratio of 15.81, a price-to-earnings-growth ratio of 0.83 and a beta of 1.24. The company’s 50-day moving average price is $54.41 and its 200 day moving average price is $45.73. 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 (NASDAQ:SCSC – Get Free Report) last released its earnings results 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. ScanSource had a return on equity of 10.10% and a net margin of 2.44%.The firm had revenue of $953.11 million for the quarter, compared to the consensus estimate of $814.35 million. During the same period in the prior year, the business posted $1.02 earnings per share. The firm’s revenue for the quarter was up 17.3% compared to the same quarter last year. On average, equities research analysts predict that ScanSource, Inc. will post 4.56 earnings per share for the current fiscal year.

Analyst Ratings Changes

A number of equities analysts have issued reports on the company. Wall Street Zen raised ScanSource from a “buy” rating to a “strong-buy” rating in a research note on Saturday, August 29th. Northcoast Research downgraded shares of ScanSource from a “buy” rating to a “neutral” rating in a report on Monday, August 17th. Zacks Research raised shares of 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 equities research analyst has rated the stock with a Strong Buy rating and three have assigned a Hold rating to the company. According to MarketBeat, ScanSource presently has a consensus rating of “Moderate Buy” and an average price target of $43.00.

Check Out Our Latest Report on SCSC

Institutional Trading of ScanSource

Several hedge funds and other institutional investors have recently modified their holdings of SCSC. Amundi increased its position in ScanSource by 35.1% in the 1st quarter. Amundi now owns 26,464 shares of the industrial products company’s stock worth $836,000 after purchasing an additional 6,880 shares during the last quarter. AQR Capital Management LLC raised its position in ScanSource by 3.8% during the first quarter. AQR Capital Management LLC now owns 128,574 shares of the industrial products company’s stock valued at $4,373,000 after acquiring an additional 4,693 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its position in ScanSource by 2.2% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 13,859 shares of the industrial products company’s stock valued at $471,000 after acquiring an additional 295 shares in the last quarter. Millennium Management LLC lifted its stake in ScanSource by 8.4% in the first quarter. Millennium Management LLC now owns 259,808 shares of the industrial products company’s stock valued at $8,836,000 after acquiring an additional 20,086 shares during the last quarter. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its position in ScanSource by 35.3% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 61,513 shares of the industrial products company’s stock worth $2,092,000 after acquiring an additional 16,044 shares in the last quarter. 97.91% of the stock is currently owned by hedge funds and other institutional investors.

ScanSource Company Profile

(Get Free Report)

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.

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