Michael Baur Sells 982 Shares of ScanSource (NASDAQ:SCSC) Stock

ScanSource, Inc. (NASDAQ:SCSC) CEO Michael Baur sold 982 shares of the business’s stock in a transaction dated Friday, December 12th. The shares were sold at an average price of $42.09, for a total value of $41,332.38. Following the completion of the sale, the chief executive officer owned 201,530 shares in the company, valued at $8,482,397.70. This represents a 0.48% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this link.

ScanSource Price Performance

Shares of NASDAQ:SCSC opened at $41.49 on Thursday. The firm has a market capitalization of $910.29 million, a PE ratio of 12.93, a P/E/G ratio of 0.67 and a beta of 1.29. The company has a quick ratio of 1.32, a current ratio of 2.16 and a debt-to-equity ratio of 0.14. The company has a 50-day moving average price of $41.33 and a two-hundred day moving average price of $41.97. ScanSource, Inc. has a twelve month low of $28.75 and a twelve month high of $52.12.

ScanSource (NASDAQ:SCSC) last announced its quarterly earnings results on Thursday, November 6th. The industrial products company reported $1.06 EPS for the quarter, beating analysts’ consensus estimates of $0.91 by $0.15. The company had revenue of $739.65 million for the quarter, compared to analysts’ expectations of $787.37 million. ScanSource had a net margin of 2.48% and a return on equity of 9.72%. ScanSource’s revenue was down 4.6% compared to the same quarter last year. During the same period in the prior year, the company posted $0.84 EPS. Equities analysts forecast that ScanSource, Inc. will post 3.33 EPS for the current year.

Analysts Set New Price Targets

Several equities research analysts have issued reports on the company. Weiss Ratings restated a “hold (c)” rating on shares of ScanSource in a research report on Monday. Barclays assumed coverage on ScanSource in a research note on Tuesday, October 7th. They set an “equal weight” rating and a $43.00 price objective on the stock. Zacks Research downgraded ScanSource from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, October 21st. Finally, Wall Street Zen raised shares of ScanSource from a “hold” rating to a “buy” rating in a research note on Saturday, November 22nd. One analyst has rated the stock with a Buy rating and three have assigned a Hold rating to the company. According to MarketBeat, ScanSource has a consensus rating of “Hold” and an average price target of $42.50.

Institutional Investors Weigh In On ScanSource

Hedge funds have recently bought and sold shares of the stock. Jones Financial Companies Lllp purchased a new position in shares of ScanSource in the 1st quarter worth about $22,848,000. Wasatch Advisors LP lifted its position in ScanSource by 34.9% in the 3rd quarter. Wasatch Advisors LP now owns 1,139,573 shares of the industrial products company’s stock worth $50,130,000 after buying an additional 294,624 shares during the last quarter. Jacobs Levy Equity Management Inc. lifted its position in ScanSource by 65.6% in the 3rd quarter. Jacobs Levy Equity Management Inc. now owns 389,915 shares of the industrial products company’s stock worth $17,152,000 after buying an additional 154,518 shares during the last quarter. Hotchkis & Wiley Capital Management LLC boosted its stake in ScanSource by 61.2% in the first quarter. Hotchkis & Wiley Capital Management LLC now owns 336,456 shares of the industrial products company’s stock worth $11,443,000 after buying an additional 127,780 shares in the last quarter. Finally, Jane Street Group LLC grew its position in ScanSource by 148.3% during the first quarter. Jane Street Group LLC now owns 199,799 shares of the industrial products company’s stock valued at $6,795,000 after acquiring an additional 119,317 shares during the last quarter. 97.91% of the stock is currently owned by institutional investors.

About ScanSource

ScanSource, Inc engages in the distribution of technology products and solutions in the United States, Canada, and Brazil. It operates through two segments, Specialty Technology Solutions and Modern Communications & Cloud. The Specialty Technology Solutions segment provides a portfolio of solutions primarily for enterprise mobile computing, data capture, barcode printing, point of sale (POS), payments, networking, electronic physical security, cyber security, and other technologies.