Michael Baur Sells 19,980 Shares of ScanSource (NASDAQ:SCSC) Stock

ScanSource, Inc. (NASDAQ:SCSC) CEO Michael Baur sold 19,980 shares of the company’s stock in a transaction that occurred on Thursday, September 10th. The stock was sold at an average price of $55.55, for a total transaction of $1,109,889.00. Following the sale, the chief executive officer owned 200,698 shares in the company, valued at $11,148,773.90. The trade was a 9.05% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this link.

ScanSource Stock Performance

Shares of SCSC traded up $0.40 during midday trading on Monday, reaching $58.59. 208,546 shares of the stock were exchanged, compared to its average volume of 237,687. The business’s 50-day moving average price is $55.15 and its 200 day moving average price is $46.61. The company has a market capitalization of $1.18 billion, a price-to-earnings ratio of 16.01, a PEG ratio of 0.85 and a beta of 1.24. The company has a debt-to-equity ratio of 0.11, a current ratio of 1.76 and a quick ratio of 1.15. ScanSource, Inc. has a twelve month low of $33.76 and a twelve month high of $66.78.

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

Analyst Upgrades and Downgrades

Several brokerages have weighed in on SCSC. Zacks Research upgraded shares of ScanSource from a “hold” rating to a “strong-buy” rating in a research report on Monday, August 24th. Northcoast Research downgraded ScanSource from a “buy” rating to a “neutral” rating in a research report on Monday, August 17th. Weiss Ratings reiterated a “hold (c+)” rating on shares of ScanSource in a research report on Wednesday, August 26th. Finally, Wall Street Zen raised shares of 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 issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $43.00.

Hedge Funds Weigh In On ScanSource

Institutional investors and hedge funds have recently bought and sold shares of the stock. BlackRock Inc. purchased a new position in ScanSource during the second quarter worth approximately $200,140,000. California State Teachers Retirement System grew its stake in shares of 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 valued at $69,698,000 after buying an additional 1,311,655 shares during the period. Pzena Investment Management LLC purchased a new stake in shares of ScanSource during the 2nd quarter valued at $57,807,000. LSV Asset Management increased its holdings in shares of ScanSource by 40.6% during the 4th quarter. LSV Asset Management now owns 847,863 shares of the industrial products company’s stock worth $33,118,000 after buying an additional 244,903 shares during the last quarter. Finally, SG Americas Securities LLC increased its holdings in shares of ScanSource by 74.4% during the 1st quarter. SG Americas Securities LLC now owns 494,988 shares of the industrial products company’s stock worth $17,968,000 after buying an additional 211,232 shares during the last quarter. Institutional investors and hedge funds own 97.91% of the company’s stock.

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.