ScanSource Inc. (NASDAQ:SCSC) shares hit a new 52-week high during mid-day trading on Friday . The company traded as high as $43.49 and last traded at $42.25, with a volume of 23,955 shares changing hands. The stock had previously closed at $42.42.

Separately, Zacks Investment Research downgraded ScanSource from a “hold” rating to a “sell” rating in a report on Tuesday, July 5th.

The company has a market capitalization of $1.08 billion and a P/E ratio of 17.18. The stock’s 50-day moving average price is $41.10 and its 200 day moving average price is $39.34.

In other news, Director Charles R. Whitchurch sold 5,000 shares of the firm’s stock in a transaction dated Wednesday, June 1st. The stock was 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 of the company’s stock, valued at approximately $544,973. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director John Patrick Reilly sold 10,000 shares of the firm’s stock in a transaction dated Tuesday, June 21st. The stock was sold at an average price of $38.84, for a total value of $388,400.00. Following the sale, the director now directly owns 19,000 shares in the company, valued at approximately $737,960. The disclosure for this sale can be found here.

An institutional investor recently raised its position in ScanSource stock. California Public Employees Retirement System raised its stake in ScanSource Inc. (NASDAQ:SCSC) by 0.5% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 96,000 shares of the company’s stock after buying an additional 500 shares during the period. California Public Employees Retirement System owned 0.36% of ScanSource worth $3,093,000 as of its most recent filing with the SEC.

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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