ScanSource (NASDAQ:SCSC) CEO Sells $3,329,116.36 in Stock

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

ScanSource Price Performance

SCSC opened at $56.72 on Thursday. The company has a debt-to-equity ratio of 0.11, a quick ratio of 1.15 and a current ratio of 1.76. The stock has a market capitalization of $1.14 billion, a PE ratio of 15.50, a price-to-earnings-growth ratio of 0.84 and a beta of 1.24. The stock’s 50 day moving average price is $55.52 and its 200-day moving average price is $47.06. ScanSource, Inc. has a 52-week low of $33.76 and a 52-week high of $66.78.

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

Wall Street Analyst Weigh In

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

Institutional Trading of ScanSource

Several institutional investors have recently added to or reduced their stakes in SCSC. Royce & Associates LP boosted its position in ScanSource by 1.7% during the fourth quarter. Royce & Associates LP now owns 26,088 shares of the industrial products company’s stock valued at $1,019,000 after purchasing an additional 433 shares in the last quarter. WINTON GROUP Ltd grew its stake in ScanSource by 2.0% in the fourth quarter. WINTON GROUP Ltd now owns 26,020 shares of the industrial products company’s stock valued at $1,016,000 after purchasing an additional 510 shares during the last quarter. Wedge Capital Management L L P NC raised its holdings in ScanSource by 2.8% in the second quarter. Wedge Capital Management L L P NC now owns 73,185 shares of the industrial products company’s stock worth $3,812,000 after purchasing an additional 1,963 shares in the last quarter. Strs Ohio raised its holdings in ScanSource by 12.3% in the first quarter. Strs Ohio now owns 18,300 shares of the industrial products company’s stock worth $664,000 after purchasing an additional 2,000 shares in the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its position in shares of ScanSource by 5.0% during the second quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 44,398 shares of the industrial products company’s stock valued at $2,313,000 after buying an additional 2,126 shares during the last quarter. 97.91% of the stock is currently owned by hedge funds and other institutional investors.

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.