ScanSource, Inc. (NASDAQ:SCSC) Short Interest Up 21.8% in January

ScanSource, Inc. (NASDAQ:SCSC) was the target of a large growth in short interest in the month of January. As of January 15th, there was short interest totaling 584,423 shares, a growth of 21.8% from the December 31st total of 479,943 shares. Currently, 2.8% of the shares of the company are short sold. Based on an average trading volume of 170,045 shares, the days-to-cover ratio is currently 3.4 days. Based on an average trading volume of 170,045 shares, the days-to-cover ratio is currently 3.4 days. Currently, 2.8% of the shares of the company are short sold.

Wall Street Analyst Weigh In

A number of research analysts have issued reports on the stock. Barclays assumed coverage on shares of ScanSource in a report on Tuesday, October 7th. They issued an “equal weight” rating and a $43.00 target price for the company. Zacks Research lowered shares of ScanSource from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, October 21st. Weiss Ratings reissued a “hold (c)” rating on shares of ScanSource in a research note on Monday, December 29th. Finally, Wall Street Zen downgraded shares of ScanSource from a “buy” rating to a “hold” rating in a report on Saturday, January 17th. One research analyst has rated the stock with a Buy rating and three have assigned a Hold rating to the company’s stock. According to MarketBeat, ScanSource currently has a consensus rating of “Hold” and a consensus price target of $42.50.

ScanSource Trading Down 0.6%

NASDAQ SCSC traded down $0.26 during mid-day trading on Tuesday, reaching $43.93. 236,938 shares of the stock were exchanged, compared to its average volume of 179,338. ScanSource has a 1-year low of $28.75 and a 1-year high of $46.25. The business’s fifty day simple moving average is $40.94 and its 200 day simple moving average is $41.78. The company has a debt-to-equity ratio of 0.14, a quick ratio of 1.32 and a current ratio of 2.16. The stock has a market capitalization of $963.82 million, a PE ratio of 13.69, a PEG ratio of 0.69 and a beta of 1.28.

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

Insider Buying and Selling at ScanSource

In other ScanSource news, CEO Michael L. Baur sold 9,559 shares of ScanSource stock in a transaction on Monday, December 15th. The shares were sold at an average price of $40.82, for a total value of $390,198.38. Following the transaction, the chief executive officer directly owned 191,971 shares in the company, valued at approximately $7,836,256.22. The trade was a 4.74% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CFO Stephen Jones sold 5,020 shares of the stock in a transaction that occurred on Thursday, December 11th. The stock was sold at an average price of $42.30, for a total value of $212,346.00. Following the sale, the chief financial officer directly owned 83,326 shares of the company’s stock, valued at $3,524,689.80. The trade was a 5.68% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold a total of 25,020 shares of company stock worth $1,035,669 over the last three months. 3.18% of the stock is currently owned by insiders.

Hedge Funds Weigh In On ScanSource

Several hedge funds and other institutional investors have recently made changes to their positions in SCSC. Denali Advisors LLC lifted its stake in shares of ScanSource by 5.6% in the fourth quarter. Denali Advisors LLC now owns 110,337 shares of the industrial products company’s stock worth $4,310,000 after acquiring an additional 5,896 shares in the last quarter. Strs Ohio raised its holdings in ScanSource by 4.5% in the fourth quarter. Strs Ohio now owns 16,300 shares of the industrial products company’s stock valued at $637,000 after acquiring an additional 700 shares in the last quarter. Horizon Investments LLC increased its position in shares of ScanSource by 16.2% in the 4th quarter. Horizon Investments LLC now owns 15,039 shares of the industrial products company’s stock worth $587,000 after purchasing an additional 2,098 shares during the last quarter. UBS Group AG lifted its position in shares of ScanSource by 16.1% during the fourth quarter. UBS Group AG now owns 88,590 shares of the industrial products company’s stock worth $3,460,000 after purchasing an additional 12,258 shares during the last quarter. Finally, Vanguard Group Inc. raised its stake in ScanSource by 2.9% during the fourth quarter. Vanguard Group Inc. now owns 2,827,007 shares of the industrial products company’s stock valued at $110,423,000 after buying an additional 78,993 shares in the last quarter. Institutional investors and hedge funds 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.