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Rachel Hayden Sells 6,738 Shares of ScanSource, Inc. (NASDAQ:SCSC) Stock

ScanSource logo with Industrials background

ScanSource, Inc. (NASDAQ:SCSC - Get Free Report) EVP Rachel Hayden sold 6,738 shares of the company'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 in the company, valued at approximately $543,690.98. This trade represents a 33.84% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website.

ScanSource Price Performance

Shares of NASDAQ:SCSC traded up $0.13 during midday trading on Thursday, hitting $41.89. 121,131 shares of the stock were exchanged, compared to its average volume of 226,547. ScanSource, Inc. has a twelve month low of $28.75 and a twelve month high of $53.90. The company has a current ratio of 2.07, a quick ratio of 1.32 and a debt-to-equity ratio of 0.14. The company has a 50 day moving average price of $38.66 and a 200-day moving average price of $40.21. The stock has a market cap of $946.71 million, a P/E ratio of 15.12, a PEG ratio of 1.21 and a beta of 1.38.

ScanSource (NASDAQ:SCSC - Get Free Report) last announced its earnings results on Thursday, May 8th. The industrial products company reported $0.86 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.77 by $0.09. ScanSource had a net margin of 2.27% and a return on equity of 8.96%. The company had revenue of $704.23 million during the quarter, compared to analysts' expectations of $809.17 million. During the same quarter in the previous year, the business posted $0.69 earnings per share. The firm's quarterly revenue was down 6.3% compared to the same quarter last year. On average, research analysts forecast that ScanSource, Inc. will post 3.33 earnings per share for the current year.

Institutional Investors Weigh In On ScanSource

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

Wall Street Analysts Forecast Growth

SCSC has been the subject of a number of research analyst reports. Wall Street Zen cut shares of ScanSource from a "buy" rating to a "hold" rating in a report on Saturday, June 14th. Northcoast Research upgraded ScanSource from a "neutral" rating to a "buy" rating and set a $42.00 price target on the stock in a report on Tuesday, May 6th.

Get Our Latest Research Report on SCSC

ScanSource Company Profile

(Get Free Report)

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.

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