Insider Selling: ScanSource, Inc. (NASDAQ:SCSC) EVP Sells $278,077.26 in Stock

ScanSource, Inc. (NASDAQ:SCSC) EVP Rachel Hayden sold 6,738 shares of the firm’s stock in a transaction on Friday, June 20th. The stock was sold at an average price of $41.27, for a total transaction of $278,077.26. Following the transaction, the executive vice president now directly owns 13,174 shares of the company’s stock, valued at approximately $543,690.98. This represents a 33.84% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website.

ScanSource Price Performance

Shares of NASDAQ:SCSC opened at $41.76 on Thursday. The firm’s 50 day moving average is $38.46 and its two-hundred day moving average is $40.28. The firm has a market capitalization of $943.61 million, a P/E ratio of 15.08, a PEG ratio of 1.21 and a beta of 1.38. The company has a current ratio of 2.07, a quick ratio of 1.32 and a debt-to-equity ratio of 0.14. ScanSource, Inc. has a 52 week low of $28.75 and a 52 week high of $53.90.

ScanSource (NASDAQ:SCSC) last posted its earnings results on Thursday, May 8th. The industrial products company reported $0.86 EPS for the quarter, beating the consensus estimate of $0.77 by $0.09. ScanSource had a return on equity of 8.96% and a net margin of 2.27%. The firm had revenue of $704.23 million for the quarter, compared to analysts’ expectations of $809.17 million. During the same period last year, the firm earned $0.69 EPS. The firm’s revenue was down 6.3% compared to the same quarter last year. Analysts anticipate that ScanSource, Inc. will post 3.33 earnings per share for the current year.

Institutional Investors Weigh In On ScanSource

A number of hedge funds and other institutional investors have recently modified their holdings of SCSC. Versant Capital Management Inc raised its position in shares of ScanSource by 88.4% during the 1st quarter. Versant Capital Management Inc now owns 863 shares of the industrial products company’s stock worth $29,000 after buying an additional 405 shares in the last quarter. Quarry LP lifted its holdings in shares of ScanSource by 948.7% in the fourth quarter. Quarry LP now owns 797 shares of the industrial products company’s stock valued at $38,000 after buying an additional 721 shares during the period. New Age Alpha Advisors LLC bought a new position in shares of ScanSource during the 4th quarter valued at about $64,000. GAMMA Investing LLC boosted its holdings in ScanSource by 25.5% during the first quarter. GAMMA Investing LLC now owns 1,944 shares of the industrial products company’s stock worth $66,000 after buying an additional 395 shares in the last quarter. Finally, Point72 Asset Management L.P. purchased a new stake in shares of ScanSource during the fourth quarter valued at $81,000. 97.91% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of research analysts recently issued reports on SCSC shares. Wall Street Zen lowered ScanSource from a “buy” rating to a “hold” rating in a research report on Saturday, June 14th. Northcoast Research raised shares of ScanSource from a “neutral” rating to a “buy” rating and set a $42.00 price target for the company in a report on Tuesday, May 6th.

About ScanSource

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.