Michael Baur Sells 21,173 Shares of ScanSource (NASDAQ:SCSC) Stock

ScanSource, Inc. (NASDAQ:SCSC) CEO Michael Baur sold 21,173 shares of the firm’s stock in a transaction dated Friday, March 13th. The stock was sold at an average price of $35.76, for a total value of $757,146.48. Following the completion of the transaction, the chief executive officer owned 161,339 shares of the company’s stock, valued at approximately $5,769,482.64. This represents a 11.60% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink.

ScanSource Price Performance

Shares of SCSC traded up $0.11 during midday trading on Tuesday, hitting $35.56. 153,189 shares of the company traded hands, compared to its average volume of 216,886. The stock has a 50-day moving average of $38.71 and a 200-day moving average of $40.81. ScanSource, Inc. has a one year low of $28.75 and a one year high of $46.25. The firm has a market cap of $763.83 million, a P/E ratio of 10.91, a PEG ratio of 0.61 and a beta of 1.29. 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 released its quarterly earnings data 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). The firm had revenue of $766.51 million during the quarter, compared to the consensus estimate of $782.46 million. ScanSource had a net margin of 2.44% and a return on equity of 9.35%. ScanSource’s revenue was up 2.5% compared to the same quarter last year. During the same quarter last year, the business posted $0.85 earnings per share. As a group, sell-side analysts predict that ScanSource, Inc. will post 3.33 EPS for the current fiscal year.

Analysts Set New Price Targets

A number of research analysts have recently commented on the stock. Wall Street Zen lowered shares of ScanSource from a “buy” rating to a “hold” rating in a research report on Saturday, January 17th. Zacks Research lowered ScanSource from a “hold” rating to a “strong sell” rating in a research note on Monday, February 9th. Finally, Weiss Ratings restated a “hold (c)” rating on shares of ScanSource in a research report on Monday, December 29th. One analyst has rated the stock with a Buy rating, two have given a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $42.50.

Institutional Investors Weigh In On ScanSource

Several hedge funds have recently bought and sold shares of the stock. Canada Pension Plan Investment Board purchased a new position in ScanSource in the 2nd quarter worth approximately $25,000. CWM LLC raised its position in shares of ScanSource by 159.6% during the 3rd quarter. CWM LLC now owns 1,874 shares of the industrial products company’s stock valued at $82,000 after buying an additional 1,152 shares in the last quarter. Royal Bank of Canada lifted its holdings in shares of ScanSource by 165.0% during the 4th quarter. Royal Bank of Canada now owns 1,876 shares of the industrial products company’s stock worth $73,000 after acquiring an additional 1,168 shares during the last quarter. Osaic Holdings Inc. grew its position in ScanSource by 400.5% in the second quarter. Osaic Holdings Inc. now owns 2,087 shares of the industrial products company’s stock worth $87,000 after acquiring an additional 1,670 shares in the last quarter. Finally, Tower Research Capital LLC TRC grew its position in ScanSource by 672.0% in the second quarter. Tower Research Capital LLC TRC now owns 4,632 shares of the industrial products company’s stock worth $194,000 after acquiring an additional 4,032 shares in the last quarter. 97.91% of the stock is currently owned by institutional investors.

ScanSource Company Profile

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.