Key Points
- ScanSource director Charles Mathis sold 3,000 shares at an average price of $58, generating $174,000. His remaining stake declined 10.7% to 25,027 shares.
- ScanSource reported strong quarterly results, with EPS of $1.46 versus the $1.14 analyst consensus and revenue of $953.11 million, up 17.3% year over year.
- Analyst sentiment is mixed but leans positive, with the stock carrying a “Moderate Buy” consensus rating, while institutional investors own approximately 97.91% of outstanding shares.
ScanSource, Inc. (NASDAQ:SCSC - Get Free Report) Director Charles Mathis sold 3,000 shares of the business's stock in a transaction on Friday, September 11th. The stock was sold at an average price of $58.00, for a total transaction of $174,000.00. Following the completion of the transaction, the director owned 25,027 shares of the company's stock, valued at approximately $1,451,566. This trade represents a 10.70% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link.
ScanSource Stock Up 0.7%
ScanSource stock opened at $58.59 on Tuesday. The firm has a market capitalization of $1.18 billion, a P/E ratio of 16.01, a P/E/G ratio of 0.85 and a beta of 1.24. The company has a current ratio of 1.76, a quick ratio of 1.15 and a debt-to-equity ratio of 0.11. ScanSource, Inc. has a twelve month low of $33.76 and a twelve month high of $66.78. The stock's fifty day simple moving average is $55.29 and its 200-day simple moving average is $46.77.
ScanSource (NASDAQ:SCSC - Get Free Report) last released its earnings results on Thursday, August 20th. The industrial products company reported $1.46 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.14 by $0.32. ScanSource had a return on equity of 10.10% and a net margin of 2.44%.The firm had revenue of $953.11 million during the quarter, compared to analyst estimates of $814.35 million. During the same period last year, the business posted $1.02 earnings per share. ScanSource's revenue was up 17.3% compared to the same quarter last year. As a group, equities analysts expect that ScanSource, Inc. will post 4.56 earnings per share for the current fiscal year.
Wall Street Analysts Forecast Growth
A number of brokerages have recently commented on SCSC. Wall Street Zen raised ScanSource from a "buy" rating to a "strong-buy" rating in a research report on Saturday, August 29th. Weiss Ratings reaffirmed a "hold (c+)" rating on shares of ScanSource in a report on Wednesday, August 26th. Zacks Research upgraded shares of ScanSource from a "hold" rating to a "strong-buy" rating in a research note on Monday, August 24th. Finally, Northcoast Research cut shares of ScanSource from a "buy" rating to a "neutral" rating in a report on Monday, August 17th. One research analyst has rated the stock with a Strong Buy rating and three have issued a Hold rating to the company's stock. Based on data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $43.00.
View Our Latest Research Report on ScanSource
Institutional Investors Weigh In On ScanSource
A number of institutional investors and hedge funds have recently bought and sold shares of the stock. Renaissance Technologies LLC acquired a new position in ScanSource in the first quarter valued at $766,000. Pzena Investment Management LLC acquired a new stake in shares of ScanSource during the second quarter worth about $57,807,000. Hsbc Holdings PLC increased its position in shares of ScanSource by 160.3% during the second quarter. Hsbc Holdings PLC now owns 36,881 shares of the industrial products company's stock worth $1,933,000 after purchasing an additional 22,715 shares in the last quarter. Meeder Asset Management Inc. purchased a new stake in shares of ScanSource in the 2nd quarter valued at about $4,859,000. Finally, Lazard Asset Management LLC purchased a new stake in shares of ScanSource in the 1st quarter valued at about $1,851,000. 97.91% of the stock is owned by hedge funds and other institutional investors.
ScanSource Company Profile
(
Get Free Report)
ScanSource, Inc is a technology distributor that connects manufacturers of hardware, software and cloud services with value-added resellers, systems integrators and other technology providers. The company supports partners with product distribution, technical expertise, training, financing and other services designed to help them deliver technology solutions to business and government customers.
ScanSource's offerings include point-of-sale systems, barcode scanners, mobile computing devices, data-capture products, networking equipment and physical security technology.
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