ScanSource, Inc. (NASDAQ:SCSC) CFO Sells $72,280.00 in Stock

ScanSource, Inc. (NASDAQ:SCSC) CFO Stephen Jones sold 2,000 shares of the business’s stock in a transaction on Friday, March 21st. The stock was sold at an average price of $36.14, for a total transaction of $72,280.00. Following the completion of the sale, the chief financial officer now directly owns 69,816 shares of the company’s stock, valued at $2,523,150.24. This represents a 2.78 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website.

ScanSource Trading Down 1.4 %

NASDAQ SCSC opened at $35.76 on Thursday. The stock has a 50-day moving average of $39.97 and a 200-day moving average of $45.50. The company has a current ratio of 2.11, a quick ratio of 1.30 and a debt-to-equity ratio of 0.15. ScanSource, Inc. has a 1-year low of $34.49 and a 1-year high of $53.90. The firm has a market cap of $839.07 million, a PE ratio of 14.13, a price-to-earnings-growth ratio of 1.14 and a beta of 1.41.

ScanSource (NASDAQ:SCSC) last released its quarterly earnings data on Thursday, January 30th. The industrial products company reported $0.85 earnings per share for the quarter, missing analysts’ consensus estimates of $0.89 by ($0.04). ScanSource had a net margin of 2.08% and a return on equity of 8.55%. During the same period in the previous year, the business posted $0.85 EPS. As a group, sell-side analysts forecast that ScanSource, Inc. will post 3.33 EPS for the current year.

Hedge Funds Weigh In On ScanSource

A number of hedge funds have recently modified their holdings of SCSC. Castlekeep Investment Advisors LLC purchased a new stake in shares of ScanSource during the fourth quarter worth about $78,694,000. Wasatch Advisors LP increased its stake in shares of ScanSource by 13.2% during the third quarter. Wasatch Advisors LP now owns 1,097,992 shares of the industrial products company’s stock valued at $52,737,000 after buying an additional 127,883 shares during the period. Raymond James Financial Inc. bought a new position in shares of ScanSource during the fourth quarter valued at approximately $5,687,000. JPMorgan Chase & Co. lifted its stake in ScanSource by 31.8% in the third quarter. JPMorgan Chase & Co. now owns 377,080 shares of the industrial products company’s stock worth $18,111,000 after acquiring an additional 91,069 shares during the period. Finally, American Century Companies Inc. boosted its holdings in ScanSource by 13.1% in the fourth quarter. American Century Companies Inc. now owns 759,318 shares of the industrial products company’s stock valued at $36,030,000 after acquiring an additional 87,721 shares in the last quarter. Hedge funds and other institutional investors own 97.91% of the company’s stock.

ScanSource Company Profile

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.