ScanSource (NASDAQ:SCSC) Stock Price Passes Above Two Hundred Day Moving Average – What’s Next?

ScanSource, Inc. (NASDAQ:SCSC)’s share price crossed above its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of $41.73 and traded as high as $42.63. ScanSource shares last traded at $42.56, with a volume of 155,301 shares traded.

Analyst Ratings Changes

A number of research analysts have issued reports on SCSC shares. Weiss Ratings reiterated a “hold (c)” rating on shares of ScanSource in a research report on Monday, December 29th. Barclays began coverage on shares of ScanSource in a research note on Tuesday, October 7th. They issued an “equal weight” rating and a $43.00 price target on the stock. Wall Street Zen cut shares of ScanSource from a “buy” rating to a “hold” rating in a research report on Saturday, January 17th. Finally, Zacks Research downgraded shares of ScanSource from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, October 21st. One analyst has rated the stock with a Buy rating and three have given a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average target price of $42.50.

ScanSource Stock Performance

The company has a fifty day moving average price of $40.79 and a two-hundred day moving average price of $41.73. The company has a debt-to-equity ratio of 0.14, a current ratio of 2.16 and a quick ratio of 1.32. The company has a market capitalization of $933.77 million, a P/E ratio of 13.26, a PEG ratio of 0.67 and a beta of 1.29.

ScanSource (NASDAQ:SCSC) last posted its earnings results on Thursday, November 6th. The industrial products company reported $1.06 EPS for the quarter, topping the consensus estimate of $0.91 by $0.15. ScanSource had a net margin of 2.48% and a return on equity of 9.72%. The business had revenue of $739.65 million for the quarter, compared to the consensus estimate of $787.37 million. During the same period last year, the company earned $0.84 EPS. The firm’s revenue was down 4.6% compared to the same quarter last year. Equities analysts forecast that ScanSource, Inc. will post 3.33 earnings per share for the current fiscal year.

Insider Buying and Selling at ScanSource

In other ScanSource news, CEO Michael L. Baur sold 9,459 shares of the company’s stock in a transaction dated Tuesday, December 16th. The stock was sold at an average price of $41.42, for a total value of $391,791.78. Following the sale, the chief executive officer owned 182,512 shares in the company, valued at approximately $7,559,647.04. The trade was a 4.93% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, CFO Stephen Jones sold 5,020 shares of the firm’s stock in a transaction dated Thursday, December 11th. The stock was sold at an average price of $42.30, for a total value of $212,346.00. Following the transaction, the chief financial officer owned 83,326 shares of the company’s stock, valued at $3,524,689.80. This trade represents a 5.68% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last three months, insiders sold 25,020 shares of company stock worth $1,035,669. 3.18% of the stock is currently owned by insiders.

Institutional Trading of ScanSource

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. Canada Pension Plan Investment Board bought a new position in ScanSource during the 2nd quarter worth approximately $25,000. CWM LLC increased its position in shares of ScanSource by 159.6% during the third quarter. CWM LLC now owns 1,874 shares of the industrial products company’s stock worth $82,000 after buying an additional 1,152 shares during the period. Osaic Holdings Inc. raised its stake in ScanSource by 400.5% during the second quarter. Osaic Holdings Inc. now owns 2,087 shares of the industrial products company’s stock worth $87,000 after buying an additional 1,670 shares during the last quarter. Mitsubishi UFJ Asset Management Co. Ltd. raised its stake in ScanSource by 22.3% during the second quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 2,879 shares of the industrial products company’s stock worth $120,000 after buying an additional 524 shares during the last quarter. Finally, Hennessy Advisors Inc. acquired a new position in ScanSource in the second quarter valued at $131,000. Institutional investors and hedge funds own 97.91% of the company’s stock.

ScanSource Company Profile

ScanSource, Inc is a global provider of technology products and solutions designed to help businesses enhance operational efficiency and customer engagement. The company specializes in the distribution of point-of-sale (POS) systems, barcode and data capture devices, networking and communications equipment, and value-added software and cloud services. By combining hardware, software and professional services, ScanSource supports channel partners in delivering end-to-end solutions across multiple industries, including retail, hospitality, healthcare and logistics.

Founded in 1992 and headquartered in Greenville, South Carolina, ScanSource has built a broad international footprint, serving customers throughout North, Central and South America as well as Europe, the Middle East and Africa.