Key Points
- CFO Stephen Jones sold 5,020 shares on Dec. 11 at an average of $42.30 for $212,346, reducing his ownership by 5.68% to 83,326 shares, per an SEC filing.
- Quarterly results showed EPS of $1.06 versus $0.91 expected (a beat) while revenue of $739.65M missed the $787.37M estimate and was down 4.6% year‑over‑year, with a net margin of 2.48%.
- Market/analyst view: shares were down ~1.9% to $41.92 with a market cap near $920M, an average analyst rating of "Hold" and a $42.50 consensus target, and institutional ownership at about 97.9%.
ScanSource, Inc. (NASDAQ:SCSC - Get Free Report) CFO Stephen Jones sold 5,020 shares of ScanSource stock in a transaction on Thursday, December 11th. The shares were sold at an average price of $42.30, for a total value of $212,346.00. Following the completion of the transaction, the chief financial officer directly owned 83,326 shares of the company's stock, valued at $3,524,689.80. This represents a 5.68% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link.
ScanSource Stock Down 1.9%
Shares of NASDAQ SCSC opened at $41.92 on Friday. The stock has a market capitalization of $919.72 million, a P/E ratio of 13.06, a PEG ratio of 0.69 and a beta of 1.29. The stock's fifty day moving average is $41.38 and its 200 day moving average is $41.95. ScanSource, Inc. has a 52 week low of $28.75 and a 52 week high of $53.90. The company has a debt-to-equity ratio of 0.14, a quick ratio of 1.32 and a current ratio of 2.16.
ScanSource (NASDAQ:SCSC - Get Free Report) last announced its quarterly earnings data on Thursday, November 6th. The industrial products company reported $1.06 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.91 by $0.15. The firm had revenue of $739.65 million for the quarter, compared to the consensus estimate of $787.37 million. ScanSource had a net margin of 2.48% and a return on equity of 9.72%. The business's revenue for the quarter was down 4.6% on a year-over-year basis. During the same period in the prior year, the company posted $0.84 earnings per share. Sell-side analysts forecast that ScanSource, Inc. will post 3.33 earnings per share for the current fiscal year.
Analyst Upgrades and Downgrades
Several brokerages have commented on SCSC. Weiss Ratings restated a "hold (c)" rating on shares of ScanSource in a research report on Monday. Barclays assumed coverage on ScanSource in a report on Tuesday, October 7th. They set an "equal weight" rating and a $43.00 price target for the company. Zacks Research cut ScanSource from a "strong-buy" rating to a "hold" rating in a research report on Tuesday, October 21st. Finally, Wall Street Zen raised shares of ScanSource from a "hold" rating to a "buy" rating in a report on Saturday, November 22nd. One equities research analyst has rated the stock with a Buy rating and three have given a Hold rating to the company. According to data from MarketBeat.com, ScanSource has an average rating of "Hold" and a consensus target price of $42.50.
View Our Latest Research Report on ScanSource
Hedge Funds Weigh In On ScanSource
Large investors have recently bought and sold shares of the company. Jones Financial Companies Lllp acquired a new stake in shares of ScanSource during the first quarter valued at about $22,848,000. Wasatch Advisors LP raised its holdings in ScanSource by 34.9% in the 3rd quarter. Wasatch Advisors LP now owns 1,139,573 shares of the industrial products company's stock valued at $50,130,000 after buying an additional 294,624 shares during the last quarter. Jacobs Levy Equity Management Inc. boosted its position in ScanSource by 65.6% during the 3rd quarter. Jacobs Levy Equity Management Inc. now owns 389,915 shares of the industrial products company's stock worth $17,152,000 after buying an additional 154,518 shares during the period. Hotchkis & Wiley Capital Management LLC boosted its position in ScanSource by 61.2% during the 1st quarter. Hotchkis & Wiley Capital Management LLC now owns 336,456 shares of the industrial products company's stock worth $11,443,000 after buying an additional 127,780 shares during the period. Finally, Jane Street Group LLC increased its position in ScanSource by 148.3% in the 1st quarter. Jane Street Group LLC now owns 199,799 shares of the industrial products company's stock valued at $6,795,000 after acquiring an additional 119,317 shares during the period. 97.91% of the stock is currently owned by institutional investors.
About ScanSource
(
Get Free Report)
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.
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