ScanSource (NASDAQ:SCSC) Shares Up 3.3%

ScanSource, Inc. (NASDAQ:SCSC) shares shot up 3.3% during trading on Wednesday . The stock traded as high as $49.63 and last traded at $49.48. Approximately 30,668 shares were traded during trading, a decline of 85% from the average daily volume of 206,464 shares. The stock had previously closed at $47.90.

Analyst Upgrades and Downgrades

Separately, Raymond James downgraded ScanSource from an “outperform” rating to a “market perform” rating in a research note on Thursday, August 15th.

ScanSource Stock Up 0.8 %

The company has a debt-to-equity ratio of 0.15, a quick ratio of 1.38 and a current ratio of 2.20. The company has a market capitalization of $1.29 billion, a price-to-earnings ratio of 16.60, a PEG ratio of 1.44 and a beta of 1.44. The business’s 50 day moving average is $46.89 and its 200 day moving average is $45.02.

ScanSource (NASDAQ:SCSC) last posted its quarterly earnings data on Tuesday, August 27th. The industrial products company reported $0.80 EPS for the quarter, missing the consensus estimate of $0.93 by ($0.13). ScanSource had a return on equity of 8.28% and a net margin of 2.31%. The company had revenue of $746.11 million for the quarter, compared to analyst estimates of $838.60 million. During the same quarter in the previous year, the firm posted $0.76 earnings per share. The company’s quarterly revenue was down 21.2% on a year-over-year basis. Sell-side analysts anticipate that ScanSource, Inc. will post 3.31 earnings per share for the current year.

Insider Transactions at ScanSource

In related news, CEO Michael L. Baur sold 34,203 shares of the business’s stock in a transaction on Monday, July 8th. The shares were sold at an average price of $42.49, for a total transaction of $1,453,285.47. Following the completion of the transaction, the chief executive officer now directly owns 118,080 shares in the company, valued at $5,017,219.20. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In related news, CEO Michael L. Baur sold 24,093 shares of the stock in a transaction on Monday, July 1st. The shares were sold at an average price of $43.40, for a total transaction of $1,045,636.20. Following the sale, the chief executive officer now directly owns 118,080 shares of the company’s stock, valued at $5,124,672. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Michael L. Baur sold 34,203 shares of the firm’s stock in a transaction on Monday, July 8th. The shares were sold at an average price of $42.49, for a total transaction of $1,453,285.47. Following the sale, the chief executive officer now owns 118,080 shares in the company, valued at approximately $5,017,219.20. The disclosure for this sale can be found here. Insiders have sold 114,531 shares of company stock worth $5,025,745 over the last 90 days. 4.56% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On ScanSource

A number of institutional investors have recently modified their holdings of the business. O Shaughnessy Asset Management LLC acquired a new position in shares of ScanSource during the 1st quarter worth about $1,651,000. Empowered Funds LLC lifted its position in shares of ScanSource by 86.1% in the first quarter. Empowered Funds LLC now owns 114,327 shares of the industrial products company’s stock valued at $5,035,000 after acquiring an additional 52,895 shares in the last quarter. Wasatch Advisors LP boosted its stake in shares of ScanSource by 67.9% in the first quarter. Wasatch Advisors LP now owns 1,055,882 shares of the industrial products company’s stock worth $46,501,000 after acquiring an additional 426,945 shares during the last quarter. Allianz Asset Management GmbH purchased a new stake in shares of ScanSource during the fourth quarter worth approximately $1,419,000. Finally, Sollinda Capital Management LLC purchased a new stake in shares of ScanSource during the fourth quarter worth approximately $277,000. 97.91% of the stock is currently 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.