ScanSource Inc. (NASDAQ:SCSC) shares hit a new 52-week high during mid-day trading on Tuesday . The company traded as high as $42.96 and last traded at $41.69, with a volume of 47,513 shares trading hands. The stock had previously closed at $42.28.

Separately, Zacks Investment Research downgraded ScanSource from a “hold” rating to a “sell” rating in a research note on Wednesday, May 4th.

The firm has a market capitalization of $1.07 billion and a PE ratio of 17.01. The stock’s 50-day moving average price is $39.50 and its 200 day moving average price is $38.47.

In other news, Director John Patrick Reilly sold 10,000 shares of the firm’s stock in a transaction that occurred on Tuesday, June 21st. The stock was sold at an average price of $38.84, for a total value of $388,400.00. Following the completion of the transaction, the director now owns 19,000 shares in the company, valued at approximately $737,960. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director Charles R. Whitchurch sold 5,000 shares of the firm’s stock in a transaction that occurred on Wednesday, June 1st. The shares were sold at an average price of $38.11, for a total value of $190,550.00. Following the completion of the transaction, the director now owns 14,300 shares of the company’s stock, valued at approximately $544,973. The disclosure for this sale can be found here.

Several hedge funds and institutional investors have recently added to or reduced their stakes in SCSC. Rhumbline Advisers boosted its position in ScanSource by 3.2% in the fourth quarter. Rhumbline Advisers now owns 46,648 shares of the company’s stock worth $1,503,000 after buying an additional 1,435 shares during the last quarter. Russell Frank Co boosted its position in ScanSource by 169.2% in the fourth quarter. Russell Frank Co now owns 75,862 shares of the company’s stock worth $2,519,000 after buying an additional 47,682 shares during the last quarter. GSA Capital Partners LLP boosted 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 worth $1,260,000 after buying an additional 19,192 shares during the last quarter. New York State Common Retirement Fund boosted 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 worth $4,329,000 after buying an additional 3,794 shares during the last quarter. Finally, Dimensional Fund Advisors LP boosted its position in ScanSource by 13.7% in the fourth quarter. Dimensional Fund Advisors LP now owns 1,819,478 shares of the company’s stock worth $58,625,000 after buying an additional 219,140 shares during 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.

Get Analysts' Upgrades and Downgrades Daily - Enter your email address below to receive a concise daily summary of analysts' upgrades, downgrades and new coverage with MarketBeat.com's FREE daily email newsletter.