Revenue Update on ScanSource(NASDAQ:SCSC)

ScanSource(NASDAQ:SCSC) announced the earnings results for Fiscal Year 2016 and Q4. The results came in during After-hours on Aug 29, 2016. Company reported revenue of $877.47M. Analysts estimated a revenue of $886.20M. Earnings per share were $0.51. Analysts had estimated an EPS of $0.71.

In a different note, On Aug 30, 2016, Raymond James said it Maintains its rating on ScanSource. In the research note, the firm Lowers the price-target to $44.00 per share. The shares have been rated ‘Outperform’ by the firm.

ScanSource (SCSC) made into the market gainers list on Thursdays trading session with the shares advancing 4.62% or 1.58 points. Due to strong positive momentum, the stock ended at $35.79, which is also near the day’s high of $35.91. The stock began the session at $34.36 and the volume stood at 3,06,755 shares. The 52-week high of the shares is $43.489 and the 52 week low is $27.46. The company has a current market capitalization of $917 M and it has 2,56,25,806 shares in outstanding.

Several Insider Transactions has been reported to the SEC. On Jun 22, 2016, John Patrick Reilly (director) sold 10,000 shares at $38.84 per share price.Also, On Jun 3, 2016, Charles R Whitchurch (director) sold 5,000 shares at $38.11 per share price.On May 17, 2016, Steven R Fischer (director) sold 10,000 shares at $38.79 per share price, according to the Form-4 filing with the securities and exchange commission.

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. The Company operates through two business segments: Worldwide Barcode & Security and Worldwide Communications & Services. The Barcode & Security distribution segment focuses on automatic identification and data capture (AIDC) POS electronic physical security and 3D printing technologies. The Company markets around 100000 products from around 300 hardware and software vendors to around 35000 reseller customers from its distribution centers. The Communications & Services distribution segment focuses on communications technologies and services. The Company operates in the United States Canada Latin America and Europe.

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