ScanSource (NASDAQ:SCSC) Director Charles Alexander Mathis Purchases 6,000 Shares

ScanSource, Inc. (NASDAQ:SCSC) Director Charles Alexander Mathis acquired 6,000 shares of the stock in a transaction that occurred on Wednesday, February 11th. The stock was purchased at an average price of $35.20 per share, for a total transaction of $211,200.00. Following the completion of the transaction, the director owned 24,793 shares in the company, valued at $872,713.60. The trade was a 31.93% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which can be accessed through this link.

ScanSource Stock Performance

ScanSource stock traded up $1.06 during trading hours on Friday, reaching $35.72. 253,998 shares of the stock were exchanged, compared to its average volume of 228,449. ScanSource, Inc. has a 52-week low of $28.75 and a 52-week high of $46.25. The stock has a market cap of $767.27 million, a P/E ratio of 10.96, a P/E/G ratio of 0.59 and a beta of 1.28. The company has a debt-to-equity ratio of 0.11, a quick ratio of 1.22 and a current ratio of 1.96. The firm’s 50 day moving average is $40.45 and its 200 day moving average is $41.62.

ScanSource (NASDAQ:SCSC) last issued its earnings results on Thursday, February 5th. The industrial products company reported $0.80 earnings per share for the quarter, missing the consensus estimate of $1.00 by ($0.20). The firm had revenue of $766.51 million during the quarter, compared to analysts’ expectations of $782.46 million. ScanSource had a net margin of 2.44% and a return on equity of 9.35%. The firm’s revenue was up 2.5% on a year-over-year basis. During the same period in the previous year, the firm earned $0.85 EPS. Analysts predict that ScanSource, Inc. will post 3.33 EPS for the current fiscal year.

Analysts Set New Price Targets

Several analysts have recently commented on the company. Zacks Research cut ScanSource from a “hold” rating to a “strong sell” rating in a report on Monday. Weiss Ratings reiterated a “hold (c)” rating on shares of ScanSource in a research report on Monday, December 29th. Finally, Wall Street Zen lowered shares of ScanSource from a “buy” rating to a “hold” rating in a research report on Saturday, January 17th. One investment analyst has rated the stock with a Buy rating, two have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target of $42.50.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in SCSC. Y Intercept Hong Kong Ltd purchased a new stake in ScanSource during the 3rd quarter worth about $611,000. New York State Common Retirement Fund lifted its holdings in ScanSource by 326.9% in the 3rd quarter. New York State Common Retirement Fund now owns 36,696 shares of the industrial products company’s stock valued at $1,614,000 after purchasing an additional 28,100 shares in the last quarter. Envestnet Asset Management Inc. boosted its stake in shares of ScanSource by 90.4% during the 2nd quarter. Envestnet Asset Management Inc. now owns 14,151 shares of the industrial products company’s stock worth $592,000 after purchasing an additional 6,720 shares during the last quarter. American Century Companies Inc. boosted its stake in shares of ScanSource by 4.4% during the 2nd quarter. American Century Companies Inc. now owns 854,624 shares of the industrial products company’s stock worth $35,732,000 after purchasing an additional 36,161 shares during the last quarter. Finally, WINTON GROUP Ltd purchased a new stake in shares of ScanSource during the second quarter worth about $2,384,000. Hedge funds and other institutional investors own 97.91% of the company’s stock.

About ScanSource

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.