Key Points
- Insider sale: ScanSource Chief Accounting Officer Brandy Ford sold 5,293 shares for approximately $303,977 at an average price of $57.43, reducing her direct ownership by 34.82% to 9,907 shares.
- Strong quarterly results: ScanSource reported earnings of $1.46 per share, beating estimates by $0.32, while revenue rose 17.3% year over year to $953.11 million.
- Mixed but generally positive sentiment: Analysts’ consensus rating is “Moderate Buy,” although the average price target of $43 is below the stock’s reported $58.48 opening price. Institutional investors own 97.91% of the company.
ScanSource, Inc. (NASDAQ:SCSC - Get Free Report) CAO Brandy Ford sold 5,293 shares of the company's stock in a transaction that occurred on Friday, September 4th. The stock was sold at an average price of $57.43, for a total value of $303,976.99. Following the transaction, the chief accounting officer directly owned 9,907 shares of the company's stock, valued at approximately $568,959.01. The trade was a 34.82% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link.
ScanSource Price Performance
ScanSource stock opened at $58.48 on Friday. The company's fifty day moving average price is $54.56 and its 200 day moving average price is $45.82. ScanSource, Inc. has a 1 year low of $33.76 and a 1 year high of $66.78. The stock has a market capitalization of $1.18 billion, a P/E ratio of 15.98, a P/E/G ratio of 0.85 and a beta of 1.24. The company has a debt-to-equity ratio of 0.11, a quick ratio of 1.15 and a current ratio of 1.76.
ScanSource (NASDAQ:SCSC - Get Free Report) last issued its quarterly earnings results on Thursday, August 20th. The industrial products company reported $1.46 EPS for the quarter, topping the consensus estimate of $1.14 by $0.32. The company had revenue of $953.11 million during the quarter, compared to analyst estimates of $814.35 million. ScanSource had a net margin of 2.44% and a return on equity of 10.10%. The firm's revenue was up 17.3% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $1.02 EPS. As a group, equities research analysts anticipate that ScanSource, Inc. will post 4.56 earnings per share for the current fiscal year.
Institutional Trading of ScanSource
Hedge funds have recently bought and sold shares of the business. Canada Pension Plan Investment Board purchased a new position in ScanSource in the 2nd quarter worth approximately $25,000. Royal Bank of Canada grew its position in shares of ScanSource by 165.0% in the fourth quarter. Royal Bank of Canada now owns 1,876 shares of the industrial products company's stock valued at $73,000 after purchasing an additional 1,168 shares in the last quarter. Osaic Holdings Inc. grew its position in shares of ScanSource by 400.5% in the second quarter. Osaic Holdings Inc. now owns 2,087 shares of the industrial products company's stock valued at $87,000 after purchasing an additional 1,670 shares in the last quarter. Freestone Grove Partners LP acquired a new stake in shares of ScanSource in the second quarter valued at approximately $119,000. Finally, Mitsubishi UFJ Asset Management Co. Ltd. acquired a new stake in shares of ScanSource in the second quarter valued at approximately $134,000. Institutional investors and hedge funds own 97.91% of the company's stock.
Wall Street Analyst Weigh In
A number of brokerages recently weighed in on SCSC. Northcoast Research lowered shares of ScanSource from a "buy" rating to a "neutral" rating in a research note on Monday, August 17th. Zacks Research upgraded ScanSource from a "hold" rating to a "strong-buy" rating in a research note on Monday, August 24th. Wall Street Zen raised ScanSource from a "buy" rating to a "strong-buy" rating in a report on Saturday, August 29th. Finally, Weiss Ratings restated a "hold (c+)" rating on shares of ScanSource in a research report on Wednesday, August 26th. One analyst has rated the stock with a Strong Buy rating and three have assigned a Hold rating to the company's stock. According to data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average price target of $43.00.
Read Our Latest Analysis on ScanSource
About ScanSource
(
Get Free Report)
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.
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