Rachel Hayden Sells 6,738 Shares of ScanSource, Inc. (NASDAQ:SCSC) Stock

ScanSource, Inc. (NASDAQ:SCSC) EVP Rachel Hayden sold 6,738 shares of the business’s stock in a transaction dated Friday, June 20th. The shares were sold at an average price of $41.27, for a total transaction of $278,077.26. Following the completion of the transaction, the executive vice president now owns 13,174 shares in the company, valued at $543,690.98. The trade was a 33.84% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website.

ScanSource Trading Up 1.2%

Shares of SCSC traded up $0.49 during trading hours on Monday, reaching $40.97. 15,673 shares of the company traded hands, compared to its average volume of 226,996. ScanSource, Inc. has a 12 month low of $28.75 and a 12 month high of $53.90. The company has a quick ratio of 1.32, a current ratio of 2.07 and a debt-to-equity ratio of 0.14. The company’s fifty day moving average price is $37.83 and its two-hundred day moving average price is $40.34. The company has a market capitalization of $925.81 million, a price-to-earnings ratio of 14.79, a price-to-earnings-growth ratio of 1.17 and a beta of 1.38.

ScanSource (NASDAQ:SCSC) last posted its quarterly earnings data on Thursday, May 8th. The industrial products company reported $0.86 earnings per share for the quarter, beating the consensus estimate of $0.77 by $0.09. ScanSource had a return on equity of 8.96% and a net margin of 2.27%. The business had revenue of $704.23 million for the quarter, compared to analysts’ expectations of $809.17 million. During the same period in the previous year, the firm posted $0.69 EPS. The business’s revenue was down 6.3% on a year-over-year basis. Equities research analysts predict that ScanSource, Inc. will post 3.33 earnings per share for the current fiscal year.

Hedge Funds Weigh In On ScanSource

Institutional investors have recently added to or reduced their stakes in the company. Castlekeep Investment Advisors LLC purchased a new stake in shares of ScanSource in the 4th quarter worth about $78,694,000. Jones Financial Companies Lllp bought a new stake in ScanSource during the first quarter worth about $22,848,000. Pzena Investment Management LLC boosted its stake in ScanSource by 132.8% during the first quarter. Pzena Investment Management LLC now owns 942,068 shares of the industrial products company’s stock worth $32,040,000 after acquiring an additional 537,358 shares in the last quarter. Hotchkis & Wiley Capital Management LLC grew its holdings in ScanSource by 61.2% in the first quarter. Hotchkis & Wiley Capital Management LLC now owns 336,456 shares of the industrial products company’s stock worth $11,443,000 after purchasing an additional 127,780 shares during the period. Finally, Raymond James Financial Inc. bought a new position in shares of ScanSource during the fourth quarter valued at approximately $5,687,000. Institutional investors own 97.91% of the company’s stock.

Analyst Ratings Changes

SCSC has been the topic of several recent analyst reports. Northcoast Research raised ScanSource from a “neutral” rating to a “buy” rating and set a $42.00 target price on the stock in a research note on Tuesday, May 6th. Wall Street Zen cut ScanSource from a “buy” rating to a “hold” rating in a research note on Saturday, June 14th.

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.