Insider Selling: ScanSource (NASDAQ:SCSC) CFO Sells 5,020 Shares of Stock

by · The Cerbat Gem

ScanSource, Inc. (NASDAQ:SCSC – Get Free Report) CFO Stephen Jones sold 5,020 shares of the stock in a transaction that occurred on Thursday, December 11th. The stock was sold at an average price of $42.30, for a total transaction of $212,346.00. Following the transaction, the chief financial officer owned 83,326 shares in the company, valued at approximately $3,524,689.80. The trade was a 5.68% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink.

ScanSource Price Performance

Shares of SCSC stock traded down $0.83 during trading on Friday, hitting $41.92. The company had a trading volume of 194,547 shares, compared to its average volume of 228,853. The firm has a market capitalization of $919.72 million, a P/E ratio of 13.06, a price-to-earnings-growth ratio of 0.68 and a beta of 1.29. ScanSource, Inc. has a one year low of $28.75 and a one year high of $53.90. The company has a debt-to-equity ratio of 0.14, a quick ratio of 1.32 and a current ratio of 2.16. The stock’s 50-day moving average price is $41.43 and its 200 day moving average price is $41.93.

ScanSource (NASDAQ:SCSC – Get Free Report) last released its earnings results on Thursday, November 6th. The industrial products company reported $1.06 earnings per share for the quarter, beating analysts’ consensus estimates of $0.91 by $0.15. ScanSource had a return on equity of 9.72% and a net margin of 2.48%.The firm had revenue of $739.65 million during the quarter, compared to the consensus estimate of $787.37 million. During the same period in the prior year, the company posted $0.84 EPS. The company’s revenue was down 4.6% compared to the same quarter last year. Equities analysts expect that ScanSource, Inc. will post 3.33 EPS for the current fiscal year.

Analyst Ratings Changes

Several research analysts have commented on the stock. Zacks Research downgraded shares of ScanSource from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, October 21st. Weiss Ratings reaffirmed a “hold (c)” rating on shares of ScanSource in a research note on Monday. Wall Street Zen upgraded ScanSource from a “hold” rating to a “buy” rating in a research report on Saturday, November 22nd. Finally, Barclays began coverage on shares of ScanSource in a report on Tuesday, October 7th. They issued an “equal weight” rating and a $43.00 target price for the company. One equities research analyst has rated the stock with a Buy rating and three have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus target price of $42.50.

View Our Latest Stock Report on ScanSource

Hedge Funds Weigh In On ScanSource

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Canada Pension Plan Investment Board bought a new position in shares of ScanSource during the second quarter valued at $25,000. CWM LLC increased its holdings in ScanSource by 159.6% in the third quarter. CWM LLC now owns 1,874 shares of the industrial products company’s stock valued at $82,000 after purchasing an additional 1,152 shares during the period. Osaic Holdings Inc. raised its position in ScanSource by 400.5% during the 2nd quarter. Osaic Holdings Inc. now owns 2,087 shares of the industrial products company’s stock worth $87,000 after purchasing an additional 1,670 shares during the last quarter. Quarry LP lifted its holdings in ScanSource by 344.3% during the 1st quarter. Quarry LP now owns 3,541 shares of the industrial products company’s stock worth $120,000 after buying an additional 2,744 shares during the period. Finally, Mitsubishi UFJ Asset Management Co. Ltd. grew its position in shares of ScanSource by 22.3% in the 2nd quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 2,879 shares of the industrial products company’s stock valued at $120,000 after buying an additional 524 shares during the last quarter. 97.91% of the stock is currently owned by institutional investors and hedge funds.

About ScanSource

(Get Free Report)

ScanSource, Inc engages in the distribution of technology products and solutions in the United States, Canada, and Brazil. It operates through two segments, Specialty Technology Solutions and Modern Communications & Cloud. The Specialty Technology Solutions segment provides a portfolio of solutions primarily for enterprise mobile computing, data capture, barcode printing, point of sale (POS), payments, networking, electronic physical security, cyber security, and other technologies.

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