ScanSource (NASDAQ:SCSC) CAO Brandy Ford Sells 5,293 Shares of Stock

Key Points

• Insider sale: ScanSource CAO Brandy Ford sold 5,293 shares at an average price of $57.43, totaling approximately $303,977. Following the transaction, Ford retained 9,907 shares, a 34.82% reduction in direct ownership.
• Strong quarterly results: ScanSource reported earnings of $1.46 per share, beating estimates of $1.14, while revenue reached $953.11 million and rose 17.3% year over year.
• Mixed analyst sentiment: The stock carries a consensus “Moderate Buy” rating, with a $43 average price target, while recent analyst actions included both upgrades to “Strong Buy” and a downgrade to “Neutral.”

ScanSource, Inc. (NASDAQ:SCSC - Get Free Report) CAO Brandy Ford sold 5,293 shares of the company's stock in a transaction that occurred on Friday, September 4th. The shares were sold at an average price of $57.43, for a total value of $303,976.99. Following the sale, the chief accounting officer directly owned 9,907 shares of the company's stock, valued at approximately $568,959.01. This represents a 34.82% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink.

ScanSource Stock Performance

Shares of SCSC stock traded up $0.62 during midday trading on Friday, hitting $58.48. The company had a trading volume of 281,325 shares, compared to its average volume of 236,077. The stock has a market cap of $1.18 billion, a price-to-earnings ratio of 15.98, a PEG ratio of 0.83 and a beta of 1.24. The company has a debt-to-equity ratio of 0.11, a current ratio of 1.76 and a quick ratio of 1.15. The company's 50 day simple moving average is $54.41 and its 200 day simple moving average is $45.73. ScanSource, Inc. has a 52-week low of $33.76 and a 52-week high of $66.78.

ScanSource (NASDAQ:SCSC - Get Free Report) last issued its quarterly earnings results on Thursday, August 20th. The industrial products company reported $1.46 earnings per share for the quarter, topping the consensus estimate of $1.14 by $0.32. The firm had revenue of $953.11 million during the quarter, compared to the consensus estimate of $814.35 million. ScanSource had a return on equity of 10.10% and a net margin of 2.44%.The company's revenue for the quarter was up 17.3% on a year-over-year basis. During the same period last year, the company earned $1.02 earnings per share. Research analysts anticipate that ScanSource, Inc. will post 4.56 earnings per share for the current fiscal year.

Analyst Ratings Changes

SCSC has been the subject of a number of analyst reports. Weiss Ratings reissued a "hold (c+)" rating on shares of ScanSource in a research note on Wednesday, August 26th. Wall Street Zen upgraded ScanSource from a "buy" rating to a "strong-buy" rating in a research report on Saturday, August 29th. Northcoast Research downgraded ScanSource from a "buy" rating to a "neutral" rating in a report on Monday, August 17th. Finally, Zacks Research upgraded shares of ScanSource from a "hold" rating to a "strong-buy" rating in a research report on Monday, August 24th. One analyst has rated the stock with a Strong Buy rating and three have assigned a Hold rating to the company. According to data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average price target of $43.00.

Institutional Investors Weigh In On ScanSource

A number of large investors have recently added to or reduced their stakes in the business. Canada Pension Plan Investment Board purchased a new stake in shares of ScanSource in the second quarter valued at about $25,000. Royal Bank of Canada raised its position in shares of ScanSource by 165.0% during the 4th quarter. Royal Bank of Canada now owns 1,876 shares of the industrial products company's stock worth $73,000 after purchasing an additional 1,168 shares during the last quarter. Osaic Holdings Inc. raised its position in shares of ScanSource by 400.5% during the 2nd quarter. Osaic Holdings Inc. now owns 2,087 shares of the industrial products company's stock worth $87,000 after purchasing an additional 1,670 shares during the last quarter. Freestone Grove Partners LP purchased a new stake in ScanSource in the 2nd quarter valued at approximately $119,000. Finally, Mitsubishi UFJ Asset Management Co. Ltd. purchased a new stake in ScanSource in the 2nd quarter valued at approximately $134,000. 97.91% of the stock is owned by institutional investors and hedge funds.

ScanSource Company Profile

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.

Continue following MarketBeat

Add MarketBeat as your preferred source on Google to see our latest stories in your feed.

Add As Preferred Source