ScanSource, Inc. (NASDAQ:SCSC) Short Interest Down 17.2% in May

ScanSource, Inc. (NASDAQ:SCSC - Get Free Report) was the recipient of a significant decline in short interest in May. As of May 15th, there was short interest totalling 1,540,000 shares, a decline of 17.2% from the April 30th total of 1,860,000 shares. Currently, 7.4% of the company's shares are short sold. Based on an average trading volume of 278,700 shares, the short-interest ratio is currently 5.5 days.

Insiders Place Their Bets

In other ScanSource news, CFO Stephen Jones sold 2,000 shares of the company's stock in a transaction that occurred on Friday, March 21st. The stock was sold at an average price of $36.14, for a total transaction of $72,280.00. Following the completion of the transaction, the chief financial officer now owns 69,816 shares of the company's stock, valued at $2,523,150.24. This represents a 2.78% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Corporate insiders own 4.20% of the company's stock.

Institutional Trading of ScanSource

Several institutional investors and hedge funds have recently modified their holdings of SCSC. Castlekeep Investment Advisors LLC bought a new position in ScanSource during the fourth quarter valued at approximately $78,694,000. Pzena Investment Management LLC lifted its stake in ScanSource by 132.8% in the first quarter. Pzena Investment Management LLC now owns 942,068 shares of the industrial products company's stock worth $32,040,000 after acquiring an additional 537,358 shares during the period. American Century Companies Inc. boosted its position in shares of ScanSource by 7.8% during the first quarter. American Century Companies Inc. now owns 818,463 shares of the industrial products company's stock valued at $27,836,000 after purchasing an additional 59,145 shares in the last quarter. Jones Financial Companies Lllp purchased a new stake in shares of ScanSource in the 1st quarter worth approximately $22,848,000. Finally, Invesco Ltd. raised its stake in shares of ScanSource by 2.4% in the fourth quarter. Invesco Ltd. now owns 618,099 shares of the industrial products company's stock worth $29,329,000 after purchasing an additional 14,669 shares during the last quarter. Hedge funds and other institutional investors own 97.91% of the company's stock.

ScanSource Stock Down 0.7%

SCSC traded down $0.28 during trading on Wednesday, hitting $41.09. 186,260 shares of the company's stock were exchanged, compared to its average volume of 232,848. ScanSource has a fifty-two week low of $28.75 and a fifty-two week high of $53.90. The company has a quick ratio of 1.30, a current ratio of 2.11 and a debt-to-equity ratio of 0.15. The business's 50 day moving average is $35.42 and its two-hundred day moving average is $41.30. The stock has a market cap of $928.47 million, a P/E ratio of 16.24, a PEG ratio of 1.14 and a beta of 1.30.

ScanSource (NASDAQ:SCSC - Get Free Report) last posted its quarterly earnings results on Thursday, May 8th. The industrial products company reported $0.86 EPS for the quarter, topping analysts' consensus estimates of $0.77 by $0.09. The company had revenue of $704.23 million for the quarter, compared to analysts' expectations of $809.17 million. ScanSource had a net margin of 2.08% and a return on equity of 8.55%. ScanSource's revenue was down 6.3% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.69 EPS. As a group, equities analysts expect that ScanSource will post 3.33 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently issued reports on the company. Northcoast Research upgraded ScanSource from a "neutral" rating to a "buy" rating and set a $42.00 price objective on the stock in a research note on Tuesday, May 6th. Wall Street Zen raised ScanSource from a "hold" rating to a "buy" rating in a report on Monday, May 12th.

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.