ScanSource (NASDAQ:SCSC) CFO Stephen Jones Sells 5,020 Shares

ScanSource, Inc. (NASDAQ:SCSC) CFO Stephen Jones sold 5,020 shares of ScanSource stock in a transaction on Thursday, December 11th. The shares were sold at an average price of $42.30, for a total transaction of $212,346.00. Following the completion of the sale, the chief financial officer owned 83,326 shares in the company, valued at $3,524,689.80. The trade was a 5.68% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink.

ScanSource Trading Down 1.9%

ScanSource stock opened at $41.92 on Friday. The company has a market cap of $919.72 million, a price-to-earnings ratio of 13.06, a P/E/G ratio of 0.69 and a beta of 1.29. The firm has a 50-day moving average of $41.38 and a 200-day moving average of $41.95. The company has a debt-to-equity ratio of 0.14, a current ratio of 2.16 and a quick ratio of 1.32. ScanSource, Inc. has a one year low of $28.75 and a one year high of $53.90.

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

Wall Street Analyst Weigh In

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

Institutional Trading of ScanSource

Several hedge funds and other institutional investors have recently modified their holdings of the stock. Jacobs Levy Equity Management Inc. grew its stake in ScanSource by 65.6% in the 3rd quarter. Jacobs Levy Equity Management Inc. now owns 389,915 shares of the industrial products company’s stock valued at $17,152,000 after buying an additional 154,518 shares during the last quarter. CANADA LIFE ASSURANCE Co boosted its holdings in shares of ScanSource by 7.2% during the third quarter. CANADA LIFE ASSURANCE Co now owns 19,168 shares of the industrial products company’s stock worth $845,000 after acquiring an additional 1,291 shares during the period. Wasatch Advisors LP grew its position in shares of ScanSource by 34.9% in 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 purchasing an additional 294,624 shares during the last quarter. Verition Fund Management LLC increased its stake in shares of ScanSource by 37.4% during the third quarter. Verition Fund Management LLC now owns 41,725 shares of the industrial products company’s stock worth $1,835,000 after purchasing an additional 11,368 shares during the period. Finally, Polymer Capital Management US LLC acquired a new stake in ScanSource during the 3rd quarter worth approximately $356,000. Institutional investors own 97.91% of the company’s stock.

About ScanSource

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.