ScanSource (NASDAQ:SCSC) Raised to Buy at Northcoast Research

Northcoast Research upgraded shares of ScanSource (NASDAQ:SCSC) from a neutral rating to a buy rating in a research report sent to investors on Tuesday, Marketbeat reports. The brokerage currently has $42.00 price objective on the industrial products company’s stock.

ScanSource Trading Up 4.6 %

Shares of SCSC stock opened at $35.92 on Tuesday. The business has a 50-day moving average price of $33.85 and a two-hundred day moving average price of $42.28. ScanSource has a 12-month low of $28.75 and a 12-month high of $53.90. The company has a quick ratio of 1.30, a current ratio of 2.11 and a debt-to-equity ratio of 0.15. The firm has a market cap of $842.83 million, a P/E ratio of 14.20, a price-to-earnings-growth ratio of 1.14 and a beta of 1.30.

Insiders Place Their Bets

In other news, CEO Michael L. Baur sold 15,000 shares of the business’s stock in a transaction that occurred on Thursday, February 6th. The shares were sold at an average price of $38.91, for a total value of $583,650.00. Following the completion of the sale, the chief executive officer now directly owns 162,760 shares in the company, valued at approximately $6,332,991.60. The trade was a 8.44 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CFO Stephen Jones sold 2,000 shares of the stock in a transaction on Friday, March 21st. The shares were sold at an average price of $36.14, for a total transaction of $72,280.00. Following the transaction, the chief financial officer now directly owns 69,816 shares in the company, valued at approximately $2,523,150.24. This represents a 2.78 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 18,994 shares of company stock valued at $731,702 over the last quarter. 4.20% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Several large investors have recently modified their holdings of the stock. Versant Capital Management Inc increased its stake in ScanSource by 88.4% in the 1st quarter. Versant Capital Management Inc now owns 863 shares of the industrial products company’s stock worth $29,000 after purchasing an additional 405 shares during the period. Quarry LP grew its holdings in shares of ScanSource by 948.7% in the fourth quarter. Quarry LP now owns 797 shares of the industrial products company’s stock worth $38,000 after purchasing an additional 721 shares during the last quarter. New Age Alpha Advisors LLC purchased a new position in shares of ScanSource in the fourth quarter worth $64,000. GAMMA Investing LLC raised its holdings in ScanSource by 25.5% during the 1st quarter. GAMMA Investing LLC now owns 1,944 shares of the industrial products company’s stock valued at $66,000 after buying an additional 395 shares during the last quarter. Finally, Point72 Asset Management L.P. purchased a new stake in ScanSource during the 4th quarter valued at $81,000. Hedge funds and other 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.