Michael J. Grainger Acquires 3,200 Shares of ScanSource, Inc. (NASDAQ:SCSC) Stock

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

NASDAQ SCSC opened at $31.93 on Friday. The company has a market cap of $809.30 million, a PE ratio of 17.74 and a beta of 0.94. 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 12 month low of $26.84 and a 12 month high of $40.55. The stock has a 50 day moving average of $34.92 and a 200-day moving average of $33.09.

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

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Pzena Investment Management LLC lifted its holdings 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 last quarter. Victory Capital Management Inc. lifted its holdings in ScanSource by 9.9% during 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 purchasing an additional 127,950 shares during the last quarter. State Street Corp lifted its holdings in ScanSource by 1.9% during the 4th quarter. State Street Corp now owns 860,844 shares of the industrial products company’s stock valued at $31,808,000 after purchasing an additional 15,653 shares during the last quarter. Charles Schwab Investment Management Inc. lifted its holdings in ScanSource by 3.4% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 458,827 shares of the industrial products company’s stock valued at $16,954,000 after purchasing an additional 14,890 shares during the last quarter. Finally, Prudential Financial Inc. lifted its holdings in ScanSource by 44.7% during the 4th quarter. Prudential Financial Inc. now owns 267,192 shares of the industrial products company’s stock valued at $9,873,000 after purchasing an additional 82,506 shares during the last quarter. 93.13% of the stock is owned by institutional investors.

Several equities analysts have recently weighed in on SCSC shares. BidaskClub cut shares of ScanSource from a “hold” rating to a “sell” rating in a research note on Tuesday. TheStreet downgraded ScanSource from a “b-” rating to a “c+” rating in a report on Tuesday. Zacks Investment Research downgraded ScanSource from a “hold” rating to a “strong sell” rating in a report on Saturday, February 8th. Finally, ValuEngine raised ScanSource from a “sell” rating to a “hold” rating in a report on Thursday, October 24th. Two research analysts have rated the stock with a sell rating, two have given a hold rating and one has issued a buy rating to the stock. ScanSource 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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