ScanSource (NASDAQ:SCSC) Reaches New 1-Year High at $51.10

ScanSource, Inc. (NASDAQ:SCSC) reached a new 52-week high during trading on Tuesday . The company traded as high as $51.10 and last traded at $50.91, with a volume of 3656 shares trading hands. The stock had previously closed at $50.19.

ScanSource Price Performance

The business has a 50-day simple moving average of $46.10 and a 200 day simple moving average of $43.49. The stock has a market cap of $1.26 billion, a P/E ratio of 15.93, a price-to-earnings-growth ratio of 1.49 and a beta of 1.45. The company has a current ratio of 2.20, a quick ratio of 1.38 and a debt-to-equity ratio of 0.15.

ScanSource (NASDAQ:SCSC) last released its quarterly earnings results on Tuesday, May 7th. The industrial products company reported $0.69 EPS for the quarter, missing analysts’ consensus estimates of $0.84 by ($0.15). ScanSource had a net margin of 2.31% and a return on equity of 8.28%. The company had revenue of $752.60 million during the quarter, compared to the consensus estimate of $822.10 million. During the same quarter last year, the firm posted $0.96 EPS. The company’s quarterly revenue was down 15.0% on a year-over-year basis. On average, analysts forecast that ScanSource, Inc. will post 3.31 earnings per share for the current year.

Insider Buying and Selling at ScanSource

In other ScanSource news, CFO Stephen Jones sold 8,500 shares of the company’s stock in a transaction dated Monday, June 3rd. The stock was sold at an average price of $47.77, for a total value of $406,045.00. Following the sale, the chief financial officer now owns 53,352 shares in the company, valued at approximately $2,548,625.04. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. In related news, CEO Michael L. Baur sold 7,798 shares of the company’s stock in a transaction dated Thursday, July 11th. The stock was sold at an average price of $43.81, for a total transaction of $341,630.38. Following the sale, the chief executive officer now owns 118,080 shares in the company, valued at approximately $5,173,084.80. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CFO Stephen Jones sold 8,500 shares of the company’s stock in a transaction dated Monday, June 3rd. The shares were sold at an average price of $47.77, for a total value of $406,045.00. Following the sale, the chief financial officer now owns 53,352 shares in the company, valued at approximately $2,548,625.04. The disclosure for this sale can be found here. In the last quarter, insiders have sold 124,274 shares of company stock worth $5,479,947. Insiders own 4.56% of the company’s stock.

Institutional Investors Weigh In On ScanSource

Several institutional investors and hedge funds have recently made changes to their positions in SCSC. CWM LLC boosted its position in shares of ScanSource by 164.1% during the 2nd quarter. CWM LLC now owns 647 shares of the industrial products company’s stock valued at $29,000 after purchasing an additional 402 shares in the last quarter. GAMMA Investing LLC bought a new stake in shares of ScanSource during the 4th quarter valued at about $46,000. Innealta Capital LLC bought a new stake in shares of ScanSource during the 2nd quarter valued at about $58,000. SG Americas Securities LLC bought a new stake in shares of ScanSource during the 1st quarter valued at about $128,000. Finally, ProShare Advisors LLC bought a new stake in shares of ScanSource during the 1st quarter valued at about $220,000. Institutional investors own 97.91% of the company’s stock.

ScanSource Company Profile

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.