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

ScanSource, Inc. (NASDAQ:SCSC) CAO Brandy Ford sold 5,293 shares of the stock in a transaction that occurred on Friday, September 4th. The shares were sold at an average price of $57.43, for a total transaction of $303,976.99. Following the completion of the sale, the chief accounting officer owned 9,907 shares in the company, valued at $568,959.01. This represents a 34.82% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website.

ScanSource Price Performance

Shares of SCSC stock opened at $58.48 on Friday. The company has a quick ratio of 1.15, a current ratio of 1.76 and a debt-to-equity ratio of 0.11. ScanSource, Inc. has a 12-month low of $33.76 and a 12-month high of $66.78. The firm has a fifty day moving average of $54.56 and a 200-day moving average of $45.82. The firm has a market capitalization of $1.18 billion, a price-to-earnings ratio of 15.98, a price-to-earnings-growth ratio of 0.85 and a beta of 1.24.

ScanSource (NASDAQ:SCSC) last issued its quarterly earnings data on Thursday, August 20th. The industrial products company reported $1.46 EPS 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 business had revenue of $953.11 million for the quarter, compared to the consensus estimate of $814.35 million. During the same quarter last year, the business posted $1.02 EPS. The firm’s revenue was up 17.3% compared to the same quarter last year. On average, equities research analysts forecast that ScanSource, Inc. will post 4.56 earnings per share for the current year.

Wall Street Analysts Forecast Growth

A number of research analysts have weighed in on SCSC shares. Weiss Ratings reaffirmed a “hold (c+)” rating on shares of ScanSource in a research note on Wednesday, August 26th. Northcoast Research downgraded shares of ScanSource from a “buy” rating to a “neutral” rating in a research report on Monday, August 17th. Wall Street Zen upgraded shares of ScanSource from a “buy” rating to a “strong-buy” rating in a report on Saturday, August 29th. Finally, Zacks Research raised shares of ScanSource from a “hold” rating to a “strong-buy” rating in a research report on Monday, August 24th. One equities research analyst has rated the stock with a Strong Buy rating and three have issued a Hold rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $43.00.

Institutional Investors Weigh In On ScanSource

Institutional investors have recently bought and sold shares of the company. Canada Pension Plan Investment Board bought a new position in shares of ScanSource during the 2nd quarter worth approximately $25,000. Royal Bank of Canada lifted its position in shares of ScanSource by 165.0% in the fourth quarter. Royal Bank of Canada now owns 1,876 shares of the industrial products company’s stock worth $73,000 after purchasing an additional 1,168 shares in the last quarter. Osaic Holdings Inc. lifted 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 purchasing an additional 1,670 shares in the last quarter. Freestone Grove Partners LP acquired a new position in ScanSource during the second quarter worth $119,000. Finally, Mitsubishi UFJ Asset Management Co. Ltd. acquired a new position in ScanSource during the second quarter worth $134,000. Institutional investors own 97.91% of the company’s stock.

ScanSource Company Profile

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.