Insider Selling: ScanSource, Inc. (NASDAQ:SCSC) CFO Sells 2,000 Shares of Stock

ScanSource, Inc. (NASDAQ:SCSC) CFO Stephen Jones sold 2,000 shares of the company’s stock in a transaction on Friday, March 21st. The shares were sold at an average price of $36.14, for a total transaction of $72,280.00. Following the sale, the chief financial officer now directly owns 69,816 shares in the company, valued at $2,523,150.24. This trade represents a 2.78 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link.

ScanSource Trading Down 1.7 %

Shares of NASDAQ:SCSC traded down $0.64 during midday trading on Tuesday, reaching $36.28. The company’s stock had a trading volume of 240,248 shares, compared to its average volume of 220,902. ScanSource, Inc. has a fifty-two week low of $34.49 and a fifty-two week high of $53.90. The company has a debt-to-equity ratio of 0.15, a quick ratio of 1.30 and a current ratio of 2.11. The firm has a 50 day moving average price of $40.51 and a two-hundred day moving average price of $45.64. The firm has a market capitalization of $851.27 million, a price-to-earnings ratio of 14.34, a PEG ratio of 1.14 and a beta of 1.41.

ScanSource (NASDAQ:SCSC) last posted its quarterly earnings results on Thursday, January 30th. The industrial products company reported $0.85 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.89 by ($0.04). ScanSource had a return on equity of 8.55% and a net margin of 2.08%. During the same period in the prior year, the firm earned $0.85 EPS. As a group, analysts forecast that ScanSource, Inc. will post 3.33 earnings per share for the current year.

Institutional Investors Weigh In On ScanSource

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. JPMorgan Chase & Co. increased its position in ScanSource by 31.8% in the 3rd quarter. JPMorgan Chase & Co. now owns 377,080 shares of the industrial products company’s stock valued at $18,111,000 after buying an additional 91,069 shares in the last quarter. Franklin Resources Inc. increased its holdings in shares of ScanSource by 9.9% during the third quarter. Franklin Resources Inc. now owns 22,577 shares of the industrial products company’s stock valued at $1,093,000 after acquiring an additional 2,026 shares in the last quarter. Barclays PLC raised its position in shares of ScanSource by 97.9% during the third quarter. Barclays PLC now owns 54,346 shares of the industrial products company’s stock worth $2,610,000 after purchasing an additional 26,881 shares during the period. Allspring Global Investments Holdings LLC bought a new position in shares of ScanSource in the 4th quarter worth $807,000. Finally, Dynamic Technology Lab Private Ltd grew its position in ScanSource by 97.4% in the 3rd quarter. Dynamic Technology Lab Private Ltd now owns 33,939 shares of the industrial products company’s stock valued at $1,630,000 after purchasing an additional 16,746 shares during the period. 97.91% of the stock is owned by institutional investors.

ScanSource Company Profile

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.