ScanSource, Inc. (NASDAQ:SCSC) Short Interest Update

ScanSource, Inc. (NASDAQ:SCSC) saw a significant increase in short interest in March. As of March 31st, there was short interest totaling 918,267 shares, an increase of 20.7% from the March 15th total of 760,995 shares. Approximately 4.4% of the shares of the company are short sold. Based on an average trading volume of 234,435 shares, the days-to-cover ratio is currently 3.9 days.

ScanSource Stock Up 1.0%

ScanSource stock opened at $38.58 on Friday. The stock has a market capitalization of $828.70 million, a PE ratio of 11.83, a price-to-earnings-growth ratio of 0.65 and a beta of 1.25. ScanSource has a 12 month low of $30.76 and a 12 month high of $46.25. The business has a 50 day simple moving average of $36.65 and a 200-day simple moving average of $39.67. The company has a debt-to-equity ratio of 0.11, a current ratio of 1.96 and a quick ratio of 1.22.

ScanSource (NASDAQ:SCSC) last posted its quarterly earnings data on Thursday, February 5th. The industrial products company reported $0.80 EPS for the quarter, missing analysts’ consensus estimates of $1.00 by ($0.20). The business had revenue of $766.51 million during the quarter, compared to analysts’ expectations of $782.46 million. ScanSource had a net margin of 2.44% and a return on equity of 9.35%. The firm’s quarterly revenue was up 2.5% compared to the same quarter last year. During the same quarter last year, the firm earned $0.85 earnings per share. On average, analysts anticipate that ScanSource will post 3.33 EPS for the current fiscal year.

Insider Activity at ScanSource

In related news, Director Charles Alexander Mathis purchased 6,000 shares of ScanSource stock in a transaction that occurred on Wednesday, February 11th. The stock was bought at an average cost of $35.20 per share, for a total transaction of $211,200.00. Following the completion of the transaction, the director owned 24,793 shares in the company, valued at $872,713.60. The trade was a 31.93% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which is accessible through this link. Also, CEO Michael L. Baur sold 21,173 shares of ScanSource stock in a transaction that occurred on Friday, March 13th. The shares were sold at an average price of $35.76, for a total value of $757,146.48. Following the transaction, the chief executive officer owned 161,339 shares of the company’s stock, valued at approximately $5,769,482.64. This represents a 11.60% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. 3.18% of the stock is currently owned by company insiders.

Institutional Trading of ScanSource

Institutional investors and hedge funds have recently made changes to their positions in the business. Canada Pension Plan Investment Board acquired a new stake in shares of ScanSource in the second quarter worth approximately $25,000. Royal Bank of Canada boosted its stake in shares of ScanSource by 165.0% in the fourth quarter. Royal Bank of Canada now owns 1,876 shares of the industrial products company’s stock worth $73,000 after acquiring an additional 1,168 shares during the last quarter. CWM LLC boosted its stake in shares of ScanSource by 159.6% in the third quarter. CWM LLC now owns 1,874 shares of the industrial products company’s stock worth $82,000 after acquiring an additional 1,152 shares during the last quarter. Osaic Holdings Inc. boosted its stake in shares of ScanSource by 400.5% in the second quarter. Osaic Holdings Inc. now owns 2,087 shares of the industrial products company’s stock worth $87,000 after acquiring an additional 1,670 shares during the last quarter. Finally, Tower Research Capital LLC TRC boosted its stake in shares of ScanSource by 672.0% in the second quarter. Tower Research Capital LLC TRC now owns 4,632 shares of the industrial products company’s stock worth $194,000 after acquiring an additional 4,032 shares during the last quarter. 97.91% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several research analysts recently weighed in on SCSC shares. Weiss Ratings reiterated a “hold (c)” rating on shares of ScanSource in a research report on Monday, December 29th. Zacks Research upgraded ScanSource from a “strong sell” rating to a “hold” rating in a research report on Tuesday, April 7th. Finally, Wall Street Zen cut ScanSource from a “buy” rating to a “hold” rating in a research report on Saturday, January 17th. One analyst has rated the stock with a Buy rating and three have assigned a Hold rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Hold” and an average target price of $42.50.

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.