ScanSource (NASDAQ:SCSC) Stock Price Crosses Above 200-Day Moving Average of $42.52

ScanSource, Inc. (NASDAQ:SCSC)’s share price passed above its 200-day moving average during trading on Monday . The stock has a 200-day moving average of $42.52 and traded as high as $44.18. ScanSource shares last traded at $43.42, with a volume of 203,105 shares changing hands.

ScanSource Stock Down 2.0 %

The company has a debt-to-equity ratio of 0.15, a quick ratio of 1.38 and a current ratio of 2.20. The company has a market capitalization of $1.07 billion, a PE ratio of 13.78, a price-to-earnings-growth ratio of 1.34 and a beta of 1.45. The firm’s 50-day simple moving average is $45.84 and its 200 day simple moving average is $42.52.

ScanSource (NASDAQ:SCSC) last released its quarterly earnings results on Tuesday, May 7th. The industrial products company reported $0.69 earnings per share for the quarter, missing analysts’ consensus estimates of $0.84 by ($0.15). The firm had revenue of $752.60 million during the quarter, compared to analyst estimates of $822.10 million. ScanSource had a return on equity of 8.28% and a net margin of 2.31%. The business’s revenue was down 15.0% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.96 EPS. As a group, equities research analysts forecast that ScanSource, Inc. will post 3.31 earnings per share for the current year.

Insider Buying and Selling at ScanSource

In related news, EVP Shana C. Smith sold 2,245 shares of the company’s stock in a transaction that occurred on Tuesday, June 4th. The stock was sold at an average price of $48.00, for a total value of $107,760.00. Following the sale, the executive vice president now owns 16,463 shares of the company’s stock, valued at approximately $790,224. The transaction was disclosed in a filing with the SEC, which is available through this link. In other news, CAO Brandy Ford sold 1,253 shares of the firm’s stock in a transaction on Friday, May 10th. The stock was sold at an average price of $47.26, for a total transaction of $59,216.78. Following the sale, the chief accounting officer now owns 9,219 shares in the company, valued at $435,689.94. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Shana C. Smith sold 2,245 shares of ScanSource stock in a transaction on Tuesday, June 4th. The shares were sold at an average price of $48.00, for a total value of $107,760.00. Following the completion of the sale, the executive vice president now directly owns 16,463 shares of the company’s stock, valued at approximately $790,224. The disclosure for this sale can be found here. In the last three months, insiders sold 33,123 shares of company stock worth $1,565,186. 4.56% of the stock is owned by corporate insiders.

Institutional Trading of ScanSource

A number of hedge funds have recently added to or reduced their stakes in SCSC. EMC Capital Management lifted its holdings in shares of ScanSource by 3.5% during the 1st quarter. EMC Capital Management now owns 7,398 shares of the industrial products company’s stock worth $326,000 after acquiring an additional 247 shares during the period. Price T Rowe Associates Inc. MD raised its stake in ScanSource by 5.5% during the first quarter. Price T Rowe Associates Inc. MD now owns 15,572 shares of the industrial products company’s stock worth $686,000 after purchasing an additional 813 shares during the period. CANADA LIFE ASSURANCE Co boosted its holdings in shares of ScanSource by 10.1% in the 1st quarter. CANADA LIFE ASSURANCE Co now owns 21,862 shares of the industrial products company’s stock valued at $962,000 after purchasing an additional 2,011 shares during the last quarter. O Shaughnessy Asset Management LLC purchased a new stake in shares of ScanSource during the 1st quarter valued at $1,651,000. Finally, Hillsdale Investment Management Inc. grew its stake in shares of ScanSource by 8.4% during the 1st quarter. Hillsdale Investment Management Inc. now owns 86,206 shares of the industrial products company’s stock valued at $3,797,000 after buying an additional 6,700 shares during the period. 97.91% of the stock is owned by institutional investors and hedge funds.

About ScanSource

ScanSource, Inc distributes technology products and solutions in the United States, Canada, and internationally. 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.