ScanSource (NASDAQ:SCSC) CEO Michael Baur Sells 57,359 Shares

ScanSource, Inc. (NASDAQ:SCSC) CEO Michael Baur sold 57,359 shares of the company’s stock in a transaction that occurred on Friday, September 11th. The stock was sold at an average price of $58.04, for a total transaction of $3,329,116.36. Following the transaction, the chief executive officer owned 200,698 shares of the company’s stock, valued at approximately $11,648,511.92. This represents a 22.23% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link.

ScanSource Price Performance

ScanSource stock traded up $0.40 during mid-day trading on Monday, reaching $58.59. The company had a trading volume of 208,546 shares, compared to its average volume of 237,687. ScanSource, Inc. has a fifty-two week low of $33.76 and a fifty-two week high of $66.78. The company has a current ratio of 1.76, a quick ratio of 1.15 and a debt-to-equity ratio of 0.11. The company has a market cap of $1.18 billion, a P/E ratio of 16.01, a P/E/G ratio of 0.85 and a beta of 1.24. The business has a fifty day simple moving average of $55.15 and a 200 day simple moving average of $46.61.

ScanSource (NASDAQ:SCSC) last announced its quarterly earnings results on Thursday, August 20th. The industrial products company reported $1.46 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.14 by $0.32. ScanSource had a net margin of 2.44% and a return on equity of 10.10%. The company had revenue of $953.11 million during the quarter, compared to the consensus estimate of $814.35 million. During the same period in the prior year, the business earned $1.02 earnings per share. The company’s revenue for the quarter was up 17.3% compared to the same quarter last year. On average, equities research analysts predict that ScanSource, Inc. will post 4.56 earnings per share for the current year.

Institutional Investors Weigh In On ScanSource

Several institutional investors and hedge funds have recently made changes to their positions in SCSC. BlackRock Inc. acquired a new position in shares of ScanSource in the second quarter worth approximately $200,140,000. California State Teachers Retirement System raised its holdings in ScanSource by 4,972.0% during the 2nd quarter. California State Teachers Retirement System now owns 1,338,036 shares of the industrial products company’s stock worth $69,698,000 after purchasing an additional 1,311,655 shares during the last quarter. Pzena Investment Management LLC bought a new position in ScanSource during the 2nd quarter worth approximately $57,807,000. LSV Asset Management lifted its position in shares of ScanSource by 40.6% in the 4th quarter. LSV Asset Management now owns 847,863 shares of the industrial products company’s stock worth $33,118,000 after purchasing an additional 244,903 shares during the period. Finally, SG Americas Securities LLC lifted its position in shares of ScanSource by 74.4% in the 1st quarter. SG Americas Securities LLC now owns 494,988 shares of the industrial products company’s stock worth $17,968,000 after purchasing an additional 211,232 shares during the period. Institutional investors and hedge funds own 97.91% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms have recently weighed in on SCSC. Wall Street Zen upgraded ScanSource from a “buy” rating to a “strong-buy” rating in a report on Saturday, August 29th. Northcoast Research downgraded shares of ScanSource from a “buy” rating to a “neutral” rating in a research report on Monday, August 17th. Zacks Research raised shares of ScanSource from a “hold” rating to a “strong-buy” rating in a report on Monday, August 24th. Finally, Weiss Ratings restated a “hold (c+)” rating on shares of ScanSource in a research report on Wednesday, August 26th. One investment analyst has rated the stock with a Strong Buy rating and three have given a Hold rating to the company’s stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $43.00.

ScanSource Company Profile

ScanSource, Inc is a technology distributor that connects manufacturers of hardware, software and cloud services with value-added resellers, systems integrators and other technology providers. The company supports partners with product distribution, technical expertise, training, financing and other services designed to help them deliver technology solutions to business and government customers.

ScanSource’s offerings include point-of-sale systems, barcode scanners, mobile computing devices, data-capture products, networking equipment and physical security technology.