ScanSource (NASDAQ:SCSC) Shares Cross Above Two Hundred Day Moving Average of $42.07

ScanSource, Inc. (NASDAQ:SCSC) crossed above its 200-day moving average during trading on Tuesday . The stock has a 200-day moving average of $42.07 and traded as high as $44.69. ScanSource shares last traded at $44.07, with a volume of 247,764 shares changing hands.

ScanSource Price Performance

The company’s 50 day simple moving average is $45.24 and its 200 day simple moving average is $42.07. The company has a debt-to-equity ratio of 0.15, a current ratio of 2.20 and a quick ratio of 1.38. The stock has a market cap of $1.09 billion, a P/E ratio of 13.99, a P/E/G ratio of 1.33 and a beta of 1.47.

ScanSource (NASDAQ:SCSC) last announced its quarterly earnings results on Tuesday, May 7th. The industrial products company reported $0.69 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.84 by ($0.15). The firm had revenue of $752.60 million during the quarter, compared to analyst estimates of $822.10 million. ScanSource had a net margin of 2.31% and a return on equity of 8.28%. ScanSource’s quarterly revenue was down 15.0% on a year-over-year basis. During the same period last year, the firm earned $0.96 EPS. As a group, equities analysts forecast that ScanSource, Inc. will post 3.31 earnings per share for the current year.

Insiders Place Their Bets

In other ScanSource news, CAO Brandy Ford sold 1,253 shares of the firm’s stock in a transaction that occurred on Friday, May 10th. The shares were sold at an average price of $47.26, for a total transaction of $59,216.78. Following the sale, the chief accounting officer now directly owns 9,219 shares in the company, valued at approximately $435,689.94. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. In other news, CAO Brandy Ford sold 1,253 shares of the stock in a transaction on Friday, May 10th. The shares were sold at an average price of $47.26, for a total transaction of $59,216.78. Following the completion of the sale, the chief accounting officer now owns 9,219 shares of the company’s stock, valued at $435,689.94. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Charles Alexander Mathis sold 1,000 shares of the firm’s stock in a transaction on Monday, May 13th. The stock was sold at an average price of $47.15, for a total transaction of $47,150.00. Following the sale, the director now owns 11,959 shares in the company, valued at $563,866.85. The disclosure for this sale can be found here. Insiders sold 33,123 shares of company stock worth $1,565,186 over the last ninety days. 4.56% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently modified their holdings of the company. Vanguard Group Inc. boosted its holdings in ScanSource by 1.2% during the first quarter. Vanguard Group Inc. now owns 3,479,683 shares of the industrial products company’s stock worth $153,245,000 after purchasing an additional 40,264 shares during the last quarter. Dimensional Fund Advisors LP boosted its stake in shares of ScanSource by 1.5% during the 4th quarter. Dimensional Fund Advisors LP now owns 1,934,258 shares of the industrial products company’s stock worth $76,616,000 after buying an additional 27,751 shares during the last quarter. Pzena Investment Management LLC grew its holdings in shares of ScanSource by 4.9% in the 4th quarter. Pzena Investment Management LLC now owns 1,893,151 shares of the industrial products company’s stock valued at $74,988,000 after acquiring an additional 89,103 shares in the last quarter. Wasatch Advisors LP grew 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 valued at $46,501,000 after acquiring an additional 426,945 shares in the last quarter. Finally, Invesco Ltd. increased its position in shares of ScanSource by 3.8% in the third quarter. Invesco Ltd. now owns 646,495 shares of the industrial products company’s stock valued at $19,595,000 after acquiring an additional 23,807 shares during the last quarter. 97.91% of the stock is owned by institutional investors and hedge funds.

About ScanSource

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.