ScanSource (NASDAQ:SCSC) Stock Price Passes Above 200 Day Moving Average – Time to Sell?

Shares of ScanSource, Inc. (NASDAQ:SCSC) passed above its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of $41.73 and traded as high as $42.63. ScanSource shares last traded at $42.56, with a volume of 155,301 shares trading hands.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently issued reports on SCSC shares. Zacks Research cut ScanSource from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, October 21st. Weiss Ratings reaffirmed a “hold (c)” rating on shares of ScanSource in a research report on Monday, December 29th. Wall Street Zen cut shares of ScanSource from a “buy” rating to a “hold” rating in a research note on Saturday, January 17th. Finally, Barclays started coverage on shares of ScanSource in a research note on Tuesday, October 7th. They set an “equal weight” rating and a $43.00 price objective on the stock. One research analyst has rated the stock with a Buy rating and three have issued a Hold rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $42.50.

ScanSource Stock Performance

The stock has a market capitalization of $933.77 million, a P/E ratio of 13.26, a PEG ratio of 0.67 and a beta of 1.29. The stock’s 50-day simple moving average is $40.79 and its 200 day simple moving average is $41.73. The company has a debt-to-equity ratio of 0.14, a current ratio of 2.16 and a quick ratio of 1.32.

ScanSource (NASDAQ:SCSC) last issued its quarterly earnings data on Thursday, November 6th. The industrial products company reported $1.06 earnings per share for the quarter, beating the consensus estimate of $0.91 by $0.15. The company had revenue of $739.65 million for the quarter, compared to analyst estimates of $787.37 million. ScanSource had a net margin of 2.48% and a return on equity of 9.72%. The company’s revenue was down 4.6% on a year-over-year basis. During the same period in the prior year, the firm earned $0.84 earnings per share. Research analysts expect that ScanSource, Inc. will post 3.33 EPS for the current fiscal year.

Insider Activity at ScanSource

In related news, CFO Stephen Jones sold 5,020 shares of the business’s stock in a transaction on Thursday, December 11th. The stock was sold at an average price of $42.30, for a total value of $212,346.00. Following the completion of the sale, the chief financial officer directly owned 83,326 shares in the company, valued at $3,524,689.80. The trade was a 5.68% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CEO Michael L. Baur sold 9,459 shares of the stock in a transaction on Tuesday, December 16th. The stock was sold at an average price of $41.42, for a total value of $391,791.78. Following the transaction, the chief executive officer owned 182,512 shares in the company, valued at $7,559,647.04. The trade was a 4.93% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last three months, insiders have sold 25,020 shares of company stock valued at $1,035,669. 3.18% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently made changes to their positions in the business. Envestnet Asset Management Inc. boosted its position in shares of ScanSource by 90.4% during the 2nd quarter. Envestnet Asset Management Inc. now owns 14,151 shares of the industrial products company’s stock worth $592,000 after acquiring an additional 6,720 shares in the last quarter. American Century Companies Inc. raised its position in ScanSource by 4.4% during the second quarter. American Century Companies Inc. now owns 854,624 shares of the industrial products company’s stock valued at $35,732,000 after purchasing an additional 36,161 shares in the last quarter. WINTON GROUP Ltd acquired a new position in ScanSource during the second quarter valued at approximately $2,384,000. Pzena Investment Management LLC lifted its stake in ScanSource by 3.6% during the second quarter. Pzena Investment Management LLC now owns 975,578 shares of the industrial products company’s stock worth $40,789,000 after purchasing an additional 33,510 shares during the last quarter. Finally, AlphaQuest LLC boosted its holdings in shares of ScanSource by 196.6% in the 2nd quarter. AlphaQuest LLC now owns 13,840 shares of the industrial products company’s stock valued at $579,000 after purchasing an additional 9,173 shares in the last quarter. Institutional investors and hedge funds own 97.91% of the company’s stock.

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.