ScanSource (NASDAQ:SCSC) Shares Pass Above 200 Day Moving Average – Time to Sell?

ScanSource, Inc. (NASDAQ:SCSC) crossed above its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of $39.85 and traded as high as $47.50. ScanSource shares last traded at $47.44, with a volume of 219,611 shares trading hands.

Wall Street Analyst Weigh In

Several brokerages have recently commented on SCSC. Weiss Ratings raised ScanSource from a “hold (c)” rating to a “hold (c+)” rating in a report on Friday, May 29th. Zacks Research raised ScanSource from a “strong sell” rating to a “hold” rating in a research report on Tuesday, April 7th. Three analysts have rated the stock with a Hold rating, According to MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price of $43.00.

ScanSource Stock Up 3.4%

The stock has a market capitalization of $964.46 million, a price-to-earnings ratio of 14.38, a price-to-earnings-growth ratio of 0.78 and a beta of 1.30. The company has a quick ratio of 1.20, a current ratio of 1.86 and a debt-to-equity ratio of 0.11. The firm has a 50-day moving average of $41.11 and a two-hundred day moving average of $39.85.

ScanSource (NASDAQ:SCSC) last posted its quarterly earnings results on Thursday, May 7th. The industrial products company reported $0.94 earnings per share for the quarter, beating the consensus estimate of $0.91 by $0.03. The firm had revenue of $758.59 million for the quarter, compared to analyst estimates of $738.55 million. ScanSource had a return on equity of 9.35% and a net margin of 2.38%.ScanSource’s quarterly revenue was up 8.8% on a year-over-year basis. During the same period in the previous year, the firm earned $0.86 earnings per share. As a group, sell-side analysts anticipate that ScanSource, Inc. will post 3.9 earnings per share for the current year.

Insiders Place Their Bets

In related news, CEO Michael L. Baur sold 21,173 shares of the company’s stock in a transaction on Friday, March 13th. The stock was sold at an average price of $35.76, for a total transaction of $757,146.48. Following the transaction, the chief executive officer directly owned 161,339 shares of the company’s stock, valued at approximately $5,769,482.64. The trade was a 11.60% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 3.18% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds have recently bought and sold shares of the company. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its position in ScanSource by 2.2% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 13,859 shares of the industrial products company’s stock worth $471,000 after purchasing an additional 295 shares during the last quarter. Royce & Associates LP increased its position in ScanSource by 1.7% in the 4th quarter. Royce & Associates LP now owns 26,088 shares of the industrial products company’s stock worth $1,019,000 after purchasing an additional 433 shares during the last quarter. Summit Global Investments increased its position in ScanSource by 3.3% in the 4th quarter. Summit Global Investments now owns 14,177 shares of the industrial products company’s stock worth $554,000 after purchasing an additional 451 shares during the last quarter. WINTON GROUP Ltd increased its position in ScanSource by 2.0% in the 4th quarter. WINTON GROUP Ltd now owns 26,020 shares of the industrial products company’s stock worth $1,016,000 after purchasing an additional 510 shares during the last quarter. Finally, Lazard Asset Management LLC increased its position in ScanSource by 1.3% in the 2nd quarter. Lazard Asset Management LLC now owns 43,016 shares of the industrial products company’s stock worth $1,797,000 after purchasing an additional 567 shares during the last quarter. 97.91% of the stock is owned by institutional investors and hedge funds.

About ScanSource

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.