ScanSource, Inc. (NASDAQ:SCSC) CAO Sells $91,106.10 in Stock

ScanSource, Inc. (NASDAQ:SCSC) CAO Brandy Ford sold 1,845 shares of ScanSource stock in a transaction that occurred on Thursday, December 19th. The shares were sold at an average price of $49.38, for a total transaction of $91,106.10. Following the completion of the sale, the chief accounting officer now owns 9,506 shares of the company’s stock, valued at $469,406.28. This trade represents a 16.25 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink.

ScanSource Stock Performance

Shares of NASDAQ:SCSC traded down $1.97 during trading on Friday, reaching $47.58. The stock had a trading volume of 1,981,867 shares, compared to its average volume of 216,049. ScanSource, Inc. has a 52 week low of $31.01 and a 52 week high of $53.90. The firm has a market capitalization of $1.13 billion, a price-to-earnings ratio of 15.25, a P/E/G ratio of 1.50 and a beta of 1.44. The company has a quick ratio of 1.27, a current ratio of 2.03 and a debt-to-equity ratio of 0.15. The stock has a fifty day simple moving average of $49.33 and a two-hundred day simple moving average of $47.72.

ScanSource (NASDAQ:SCSC) last released its quarterly earnings results on Thursday, November 7th. The industrial products company reported $0.84 EPS for the quarter, beating analysts’ consensus estimates of $0.77 by $0.07. ScanSource had a net margin of 2.49% and a return on equity of 8.53%. The company had revenue of $775.58 million for the quarter, compared to analyst estimates of $774.90 million. During the same quarter last year, the firm posted $0.74 earnings per share. The company’s quarterly revenue was down 11.5% compared to the same quarter last year. As a group, analysts anticipate that ScanSource, Inc. will post 3.51 earnings per share for the current fiscal year.

Hedge Funds Weigh In On ScanSource

A number of institutional investors have recently modified their holdings of the company. 272 Capital LP bought a new position in shares of ScanSource in the third quarter valued at approximately $432,000. Franklin Resources Inc. increased its position in ScanSource by 9.9% during the third quarter. Franklin Resources Inc. now owns 22,577 shares of the industrial products company’s stock worth $1,093,000 after acquiring an additional 2,026 shares during the period. Sanctuary Advisors LLC bought a new position in ScanSource during the third quarter worth $499,000. Barclays PLC increased its position in ScanSource by 97.9% during the third quarter. Barclays PLC now owns 54,346 shares of the industrial products company’s stock worth $2,610,000 after acquiring an additional 26,881 shares during the period. Finally, Public Employees Retirement System of Ohio increased its position in ScanSource by 42.4% during the third quarter. Public Employees Retirement System of Ohio now owns 16,047 shares of the industrial products company’s stock worth $771,000 after acquiring an additional 4,780 shares during the period. 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.