ScanSource Inc. (NASDAQ:SCSC)’s share price gapped up prior to trading on Monday . The stock had previously closed at $39.93, but opened at $40.00. ScanSource shares last traded at $40.51, with a volume of 55,097 shares changing hands.

Separately, Zacks Investment Research upgraded shares of ScanSource from a “sell” rating to a “hold” rating in a report on Wednesday, July 13th.

The company has a market cap of $1.05 billion and a PE ratio of 16.73. The firm’s 50-day moving average is $38.22 and its 200 day moving average is $37.25.

ScanSource (NASDAQ:SCSC) last posted its quarterly earnings data on Tuesday, May 10th. The company reported $0.64 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.65 by $0.01. The firm had revenue of $798.40 million for the quarter, compared to analysts’ expectations of $871.06 million. The business’s quarterly revenue was up 4.6% on a year-over-year basis. During the same quarter in the prior year, the business posted $0.52 EPS. Equities research analysts forecast that ScanSource Inc. will post $2.91 EPS for the current fiscal year.

In other news, Director Charles R. Whitchurch sold 5,000 shares of the firm’s stock in a transaction on Wednesday, June 1st. The shares were sold at an average price of $38.11, for a total transaction of $190,550.00. Following the sale, the director now owns 14,300 shares in the company, valued at approximately $544,973. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, Director Steven R. Fischer sold 10,000 shares of the firm’s stock in a transaction on Monday, May 16th. The shares were sold at an average price of $38.79, for a total transaction of $387,900.00. Following the sale, the director now owns 35,467 shares in the company, valued at approximately $1,375,764.93. The disclosure for this sale can be found here.

Several hedge funds recently bought and sold shares of the stock. Dimensional Fund Advisors LP boosted its stake in ScanSource by 13.7% in the fourth quarter. Dimensional Fund Advisors LP now owns 1,819,478 shares of the company’s stock valued at $58,625,000 after buying an additional 219,140 shares during the period. GSA Capital Partners LLP raised its position in ScanSource by 96.4% in the fourth quarter. GSA Capital Partners LLP now owns 39,092 shares of the company’s stock valued at $1,260,000 after buying an additional 19,192 shares in the last quarter. New York State Common Retirement Fund raised its position in ScanSource by 2.9% in the fourth quarter. New York State Common Retirement Fund now owns 134,361 shares of the company’s stock valued at $4,329,000 after buying an additional 3,794 shares in the last quarter. California Public Employees Retirement System raised its position in ScanSource by 0.5% in the fourth quarter. California Public Employees Retirement System now owns 96,000 shares of the company’s stock valued at $3,093,000 after buying an additional 500 shares in the last quarter. Finally, Rhumbline Advisers raised its position in ScanSource by 3.2% in the fourth quarter. Rhumbline Advisers now owns 46,648 shares of the company’s stock valued at $1,503,000 after buying an additional 1,435 shares in the last quarter.

ScanSource, Inc is a wholesale distributor of specialty technology products. The Company and its subsidiaries provide distribution services for technology manufacturers and sells to resellers in the specialty technology markets, such as point-of-sale (POS) and barcode, physical security and three dimensional (3D) printing and communications.

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