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 firm’s stock in a transaction on Friday, June 20th. The shares were sold at an average price of $41.27, for a total value of $278,077.26. Following the transaction, the executive vice president now owns 13,174 shares of the company’s stock, valued at $543,690.98. The trade was a 33.84% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink.

ScanSource Stock Performance

NASDAQ SCSC traded up $0.49 during trading hours on Monday, hitting $40.97. The company’s stock had a trading volume of 15,673 shares, 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’s 50 day simple moving average is $37.83 and its two-hundred day simple moving average is $40.34. The company has a debt-to-equity ratio of 0.14, a current ratio of 2.07 and a quick ratio of 1.32. The company has a market cap of $925.81 million, a P/E ratio of 14.79, a price-to-earnings-growth ratio of 1.17 and a beta of 1.38.

ScanSource (NASDAQ:SCSC) last released 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 net margin of 2.27% and a return on equity of 8.96%. The firm had revenue of $704.23 million during the quarter, compared to analysts’ expectations of $809.17 million. During the same period in the previous year, the company earned $0.69 earnings per share. The firm’s quarterly revenue was down 6.3% on a year-over-year basis. As a group, sell-side analysts expect that ScanSource, Inc. will post 3.33 EPS for the current fiscal year.

Institutional Investors Weigh In On ScanSource

Hedge funds have recently modified their holdings of the business. Versant Capital Management Inc grew its stake in shares of 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 buying an additional 405 shares in the last quarter. Quarry LP lifted its holdings in shares of ScanSource by 948.7% in the 4th quarter. Quarry LP now owns 797 shares of the industrial products company’s stock worth $38,000 after buying an additional 721 shares during the period. New Age Alpha Advisors LLC bought a new position in ScanSource during the 4th quarter worth about $64,000. GAMMA Investing LLC increased its holdings in shares of ScanSource by 25.5% in the 1st quarter. GAMMA Investing LLC now owns 1,944 shares of the industrial products company’s stock valued at $66,000 after acquiring an additional 395 shares during the period. Finally, Point72 Asset Management L.P. purchased a new stake in ScanSource during the fourth quarter valued at approximately $81,000. Institutional investors own 97.91% of the company’s stock.

Wall Street Analyst Weigh In

SCSC has been the subject of a number of analyst reports. Wall Street Zen lowered shares of ScanSource from a “buy” rating to a “hold” rating in a research note on Saturday, June 14th. Northcoast Research raised ScanSource from a “neutral” rating to a “buy” rating and set a $42.00 price objective on the stock in a research report on Tuesday, May 6th.

ScanSource Company Profile

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.