ScanSource (NASDAQ:SCSC) Stock Price Up 3.3%

ScanSource, Inc. (NASDAQ:SCSC) was up 3.3% during mid-day trading on Wednesday . The stock traded as high as $49.63 and last traded at $49.48. Approximately 30,668 shares changed hands during mid-day trading, a decline of 85% from the average daily volume of 206,464 shares. The stock had previously closed at $47.90.

Analyst Ratings Changes

Separately, Raymond James downgraded shares of ScanSource from an “outperform” rating to a “market perform” rating in a research report on Thursday, August 15th.

ScanSource Trading Up 7.5 %

The company has a debt-to-equity ratio of 0.15, a quick ratio of 1.38 and a current ratio of 2.20. The firm has a market cap of $1.27 billion, a PE ratio of 16.00, a price-to-earnings-growth ratio of 1.44 and a beta of 1.44. The stock has a 50-day simple moving average of $46.57 and a two-hundred day simple moving average of $44.92.

ScanSource (NASDAQ:SCSC) last released its quarterly earnings data on Tuesday, August 27th. The industrial products company reported $0.80 earnings per share for the quarter, missing the consensus estimate of $0.93 by ($0.13). The company had revenue of $746.11 million for the quarter, compared to analysts’ expectations of $838.60 million. ScanSource had a net margin of 2.31% and a return on equity of 8.28%. The firm’s revenue for the quarter was down 21.2% on a year-over-year basis. During the same period in the previous year, the firm earned $0.76 earnings per share. As a group, sell-side analysts anticipate that ScanSource, Inc. will post 3.31 EPS for the current year.

Insiders Place Their Bets

In related news, CEO Michael L. Baur sold 34,203 shares of the firm’s stock in a transaction that occurred on Monday, July 8th. The shares were sold at an average price of $42.49, for a total value of $1,453,285.47. Following the transaction, the chief executive officer now owns 118,080 shares of the company’s stock, valued at $5,017,219.20. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. In related news, CEO Michael L. Baur sold 9,053 shares of ScanSource stock in a transaction that occurred on Monday, June 3rd. The stock was sold at an average price of $47.76, for a total transaction of $432,371.28. Following the sale, the chief executive officer now owns 118,080 shares of the company’s stock, valued at approximately $5,639,500.80. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Michael L. Baur sold 34,203 shares of the firm’s stock in a transaction dated Monday, July 8th. The stock was sold at an average price of $42.49, for a total transaction of $1,453,285.47. Following the completion of the sale, the chief executive officer now directly owns 118,080 shares of the company’s stock, valued at approximately $5,017,219.20. The disclosure for this sale can be found here. Over the last three months, insiders have sold 114,531 shares of company stock valued at $5,025,745. Insiders own 4.56% of the company’s stock.

Institutional Investors Weigh In On ScanSource

A number of institutional investors and hedge funds have recently modified their holdings of SCSC. O Shaughnessy Asset Management LLC purchased a new position in shares of ScanSource during the first quarter worth approximately $1,651,000. Empowered Funds LLC raised its position in ScanSource by 86.1% during the 1st quarter. Empowered Funds LLC now owns 114,327 shares of the industrial products company’s stock valued at $5,035,000 after purchasing an additional 52,895 shares in the last quarter. Wasatch Advisors LP lifted its holdings in shares of ScanSource by 67.9% in the 1st quarter. Wasatch Advisors LP now owns 1,055,882 shares of the industrial products company’s stock worth $46,501,000 after buying an additional 426,945 shares during the period. Allianz Asset Management GmbH purchased a new position in shares of ScanSource during the fourth quarter valued at $1,419,000. Finally, Sollinda Capital Management LLC purchased a new position in shares of ScanSource during the fourth quarter valued at $277,000. 97.91% of the stock is owned by institutional investors.

ScanSource Company Profile

ScanSource, Inc distributes technology products and solutions in the United States, Canada, and internationally. 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.