ScanSource, Inc. (NASDAQ:SCSC) Director Michael J. Grainger Buys 3,200 Shares

ScanSource, Inc. (NASDAQ:SCSC) Director Michael J. Grainger purchased 3,200 shares of the stock in a transaction on Tuesday, February 11th. The shares were purchased at an average cost of $31.90 per share, with a total value of $102,080.00. Following the transaction, the director now owns 25,000 shares of the company’s stock, valued at approximately $797,500. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink.

Shares of ScanSource stock opened at $31.90 on Friday. The stock has a market capitalization of $750.24 million, a price-to-earnings ratio of 17.72 and a beta of 0.94. The business’s 50 day simple moving average is $35.02 and its 200-day simple moving average is $33.10. The company has a current ratio of 1.85, a quick ratio of 0.96 and a debt-to-equity ratio of 0.38. ScanSource, Inc. has a twelve month low of $26.84 and a twelve month high of $40.55.

ScanSource (NASDAQ:SCSC) last issued its quarterly earnings data on Tuesday, February 4th. The industrial products company reported $0.77 earnings per share for the quarter, missing analysts’ consensus estimates of $0.81 by ($0.04). The company had revenue of $989.50 million for the quarter, compared to the consensus estimate of $908.27 million. ScanSource had a net margin of 1.20% and a return on equity of 8.32%. ScanSource’s revenue for the quarter was down 5.4% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.96 earnings per share. Sell-side analysts predict that ScanSource, Inc. will post 2.63 earnings per share for the current year.

Several large investors have recently made changes to their positions in the company. Pzena Investment Management LLC raised its stake in ScanSource by 16.6% during the 4th quarter. Pzena Investment Management LLC now owns 1,464,078 shares of the industrial products company’s stock valued at $54,098,000 after purchasing an additional 208,461 shares during the period. Victory Capital Management Inc. grew its stake in ScanSource by 9.9% in the 4th quarter. Victory Capital Management Inc. now owns 1,418,709 shares of the industrial products company’s stock valued at $49,499,000 after buying an additional 127,950 shares during the last quarter. State Street Corp grew its stake in shares of ScanSource by 1.9% in the fourth quarter. State Street Corp now owns 860,844 shares of the industrial products company’s stock worth $31,808,000 after acquiring an additional 15,653 shares during the last quarter. Charles Schwab Investment Management Inc. lifted its stake in shares of ScanSource by 3.4% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 458,827 shares of the industrial products company’s stock valued at $16,954,000 after buying an additional 14,890 shares during the period. Finally, Prudential Financial Inc. grew its position in ScanSource by 44.7% during the fourth quarter. Prudential Financial Inc. now owns 267,192 shares of the industrial products company’s stock worth $9,873,000 after buying an additional 82,506 shares in the last quarter. Institutional investors own 93.13% of the company’s stock.

Several equities research analysts have recently issued reports on SCSC shares. Zacks Investment Research lowered shares of ScanSource from a “hold” rating to a “strong sell” rating in a research report on Saturday, February 8th. BidaskClub downgraded shares of ScanSource from a “hold” rating to a “sell” rating in a research report on Tuesday. TheStreet downgraded ScanSource from a “b-” rating to a “c+” rating in a report on Tuesday. Finally, ValuEngine upgraded shares of ScanSource from a “sell” rating to a “hold” rating in a research note on Thursday, October 24th. Two analysts have rated the stock with a sell rating, two have assigned a hold rating and one has assigned a buy rating to the stock. The company currently has an average rating of “Hold” and a consensus price target of $37.00.

About ScanSource

ScanSource, Inc distributes technology products and solutions in North America, Latin America, and Europe. It operates in two segments, Worldwide Barcode, Networking & Security (WW Barcode, Networking & Security); and Worldwide Communications & Services (WW Communications & Services).

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