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

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

Analyst Upgrades and Downgrades

A number of analysts have recently commented on the company. Wall Street Zen downgraded ScanSource from a “buy” rating to a “hold” rating in a research note on Saturday, January 17th. Weiss Ratings restated a “hold (c)” rating on shares of ScanSource in a research note on Monday, December 29th. Finally, Zacks Research upgraded ScanSource from a “strong sell” rating to a “hold” rating in a research note on Tuesday, April 7th. One analyst has rated the stock with a Buy rating and three have given a Hold rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $42.50.

ScanSource Price Performance

Shares of ScanSource stock opened at $39.55 on Friday. The business has a 50 day simple moving average of $36.68 and a two-hundred day simple moving average of $39.61. ScanSource has a 12 month low of $30.76 and a 12 month high of $46.25. The stock has a market capitalization of $849.53 million, a P/E ratio of 12.13, a PEG ratio of 0.65 and a beta of 1.25. 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 announced its earnings results 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). ScanSource had a net margin of 2.44% and a return on equity of 9.35%. The firm had revenue of $766.51 million for the quarter, compared to analyst estimates of $782.46 million. During the same period in the previous year, the company earned $0.85 EPS. ScanSource’s revenue was up 2.5% compared to the same quarter last year. As a group, analysts predict that ScanSource will post 3.33 EPS for the current fiscal year.

Insider Transactions at ScanSource

In related news, Director Charles Alexander Mathis bought 6,000 shares of the stock in a transaction dated Wednesday, February 11th. The shares were purchased at an average price of $35.20 per share, for a total transaction of $211,200.00. Following the completion of the purchase, the director directly owned 24,793 shares of the company’s stock, valued at $872,713.60. This represents a 31.93% increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Michael L. Baur sold 3,827 shares of the company’s stock in a transaction dated Monday, March 16th. The stock was sold at an average price of $35.89, for a total value of $137,351.03. Following the completion of the sale, the chief executive officer owned 157,512 shares in the company, valued at $5,653,105.68. The trade was a 2.37% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. 3.18% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On ScanSource

Hedge funds have recently made changes to their positions in the company. Wasatch Advisors LP increased its holdings in shares of ScanSource by 34.9% in the third quarter. Wasatch Advisors LP now owns 1,139,573 shares of the industrial products company’s stock valued at $50,130,000 after purchasing an additional 294,624 shares during the last quarter. SG Americas Securities LLC increased its holdings in shares of ScanSource by 2,835.9% in the fourth quarter. SG Americas Securities LLC now owns 283,756 shares of the industrial products company’s stock valued at $11,084,000 after purchasing an additional 274,091 shares during the last quarter. LSV Asset Management increased its holdings in shares of ScanSource by 40.6% in the fourth quarter. LSV Asset Management now owns 847,863 shares of the industrial products company’s stock valued at $33,118,000 after purchasing an additional 244,903 shares during the last quarter. Invesco Ltd. increased its holdings in shares of ScanSource by 56.5% in the fourth quarter. Invesco Ltd. now owns 439,442 shares of the industrial products company’s stock valued at $17,165,000 after purchasing an additional 158,722 shares during the last quarter. Finally, Jacobs Levy Equity Management Inc. increased its holdings in shares of ScanSource by 65.6% in the third quarter. Jacobs Levy Equity Management Inc. now owns 389,915 shares of the industrial products company’s stock valued at $17,152,000 after purchasing an additional 154,518 shares during 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.