Brandy Ford Sells 1,845 Shares of ScanSource, Inc. (NASDAQ:SCSC) Stock

ScanSource, Inc. (NASDAQ:SCSC) CAO Brandy Ford sold 1,845 shares of the company’s stock in a transaction on Thursday, December 19th. The stock was sold at an average price of $49.38, for a total transaction of $91,106.10. Following the sale, the chief accounting officer now directly owns 9,506 shares in the company, valued at $469,406.28. This trade represents a 16.25 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link.

ScanSource Stock Down 4.0 %

ScanSource stock opened at $47.58 on Friday. The company has a debt-to-equity ratio of 0.15, a current ratio of 2.03 and a quick ratio of 1.27. The company’s 50-day moving average is $49.32 and its 200-day moving average is $47.72. The firm has a market capitalization of $1.13 billion, a PE ratio of 15.25, a P/E/G ratio of 1.50 and a beta of 1.44. ScanSource, Inc. has a fifty-two week low of $31.01 and a fifty-two week high of $53.90.

ScanSource (NASDAQ:SCSC) last announced its quarterly earnings results on Thursday, November 7th. The industrial products company reported $0.84 earnings per share for the quarter, topping analysts’ consensus estimates of $0.77 by $0.07. ScanSource had a return on equity of 8.53% and a net margin of 2.49%. The firm had revenue of $775.58 million for the quarter, compared to the consensus estimate of $774.90 million. During the same quarter in the previous year, the business earned $0.74 earnings per share. The business’s revenue was down 11.5% compared to the same quarter last year. Sell-side analysts anticipate that ScanSource, Inc. will post 3.51 earnings per share for the current year.

Institutional Investors Weigh In On ScanSource

Several hedge funds have recently added to or reduced their stakes in SCSC. Royce & Associates LP increased its holdings in shares of ScanSource by 177.3% in the third quarter. Royce & Associates LP now owns 21,432 shares of the industrial products company’s stock valued at $1,029,000 after purchasing an additional 13,703 shares during the last quarter. Janney Montgomery Scott LLC acquired a new position in ScanSource in the 3rd quarter valued at about $1,674,000. Cornercap Investment Counsel Inc. bought a new position in ScanSource in the 2nd quarter valued at about $524,000. Pacer Advisors Inc. lifted its position in ScanSource by 54.2% during the second quarter. Pacer Advisors Inc. now owns 2,319,469 shares of the industrial products company’s stock worth $102,776,000 after acquiring an additional 815,240 shares during the last quarter. Finally, Dynamic Technology Lab Private Ltd boosted its holdings in shares of ScanSource by 97.4% during the third quarter. Dynamic Technology Lab Private Ltd now owns 33,939 shares of the industrial products company’s stock worth $1,630,000 after acquiring an additional 16,746 shares during the period. Institutional investors and hedge funds own 97.91% of the company’s stock.

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.