ScanSource, Inc. (NASDAQ:SCSC) CFO Stephen Jones Sells 2,000 Shares

ScanSource, Inc. (NASDAQ:SCSC) CFO Stephen Jones sold 2,000 shares of the stock in a transaction dated Friday, March 21st. The stock was sold at an average price of $36.14, for a total transaction of $72,280.00. Following the transaction, 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 filing with the Securities & Exchange Commission, which can be accessed through the SEC website.

ScanSource Stock Down 1.7 %

ScanSource stock opened at $36.28 on Wednesday. ScanSource, Inc. has a 1-year low of $34.49 and a 1-year high of $53.90. The company has a debt-to-equity ratio of 0.15, a current ratio of 2.11 and a quick ratio of 1.30. The stock’s 50 day moving average price is $40.25 and its 200 day moving average price is $45.57. The company has a market cap of $851.27 million, a PE ratio of 14.34, a price-to-earnings-growth ratio of 1.14 and a beta of 1.41.

ScanSource (NASDAQ:SCSC) last announced its quarterly earnings results on Thursday, January 30th. The industrial products company reported $0.85 earnings per share (EPS) 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 quarter in the previous year, the company posted $0.85 earnings per share. On average, sell-side analysts predict that ScanSource, Inc. will post 3.33 EPS for the current fiscal year.

Institutional Investors Weigh In On ScanSource

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. JPMorgan Chase & Co. grew its holdings in shares of ScanSource by 31.8% in the 3rd 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. Franklin Resources Inc. boosted its position in ScanSource by 9.9% during the third quarter. Franklin Resources Inc. now owns 22,577 shares of the industrial products company’s stock worth $1,093,000 after purchasing an additional 2,026 shares in the last quarter. Barclays PLC grew its holdings in ScanSource by 97.9% in the third quarter. Barclays PLC now owns 54,346 shares of the industrial products company’s stock valued at $2,610,000 after purchasing an additional 26,881 shares during the last quarter. Allspring Global Investments Holdings LLC purchased a new position in shares of ScanSource in the fourth quarter valued at $807,000. Finally, Dynamic Technology Lab Private Ltd raised its stake in shares of ScanSource by 97.4% during the 3rd quarter. Dynamic Technology Lab Private Ltd now owns 33,939 shares of the industrial products company’s stock worth $1,630,000 after buying an additional 16,746 shares during the last quarter. 97.91% of the stock is currently owned by institutional investors and hedge funds.

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.