ScanSource, Inc. (NASDAQ:SCSC) CEO Michael L. Baur sold 17,621 shares of ScanSource stock in a transaction on Thursday, October 5th. The stock was sold at an average price of $44.32, for a total transaction of $780,962.72. Following the transaction, the chief executive officer now directly owns 35,209 shares in the company, valued at $1,560,462.88. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link.
Shares of ScanSource, Inc. (NASDAQ SCSC) opened at 44.75 on Tuesday. The firm has a 50-day moving average of $41.04 and a 200 day moving average of $39.47. The firm has a market capitalization of $1.14 billion, a price-to-earnings ratio of 16.51 and a beta of 1.16. ScanSource, Inc. has a 52 week low of $29.05 and a 52 week high of $45.35.
ScanSource (NASDAQ:SCSC) last issued its earnings results on Tuesday, August 29th. The industrial products company reported $0.68 earnings per share for the quarter, hitting the Zacks’ consensus estimate of $0.68. ScanSource had a return on equity of 8.76% and a net margin of 1.94%. The business had revenue of $917.30 million during the quarter, compared to analyst estimates of $894.17 million. During the same quarter in the previous year, the firm earned $0.51 EPS. ScanSource’s revenue was up 4.5% on a year-over-year basis. On average, equities analysts predict that ScanSource, Inc. will post $3.07 earnings per share for the current fiscal year.
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A number of brokerages have recently weighed in on SCSC. Northcoast Research cut shares of ScanSource from a “buy” rating to a “neutral” rating in a research report on Monday, October 2nd. Zacks Investment Research lowered shares of ScanSource from a “buy” rating to a “hold” rating in a report on Tuesday, September 5th. BidaskClub lowered shares of ScanSource from a “sell” rating to a “strong sell” rating in a report on Tuesday, August 8th. Finally, ValuEngine upgraded shares of ScanSource from a “hold” rating to a “buy” rating in a report on Friday, September 1st. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and two have issued a buy rating to the company. ScanSource currently has an average rating of “Hold” and an average price target of $45.75.
Several hedge funds and other institutional investors have recently added to or reduced their stakes in SCSC. BlackRock Inc. increased its position in shares of ScanSource by 42,757.8% during the 1st quarter. BlackRock Inc. now owns 3,121,763 shares of the industrial products company’s stock valued at $122,529,000 after purchasing an additional 3,114,479 shares during the last quarter. LSV Asset Management increased its position in shares of ScanSource by 33.1% during the 2nd quarter. LSV Asset Management now owns 849,662 shares of the industrial products company’s stock valued at $34,241,000 after purchasing an additional 211,471 shares during the last quarter. Northern Trust Corp increased its position in shares of ScanSource by 24.1% during the 2nd quarter. Northern Trust Corp now owns 666,664 shares of the industrial products company’s stock valued at $26,867,000 after purchasing an additional 129,636 shares during the last quarter. Vanguard Group Inc. increased its holdings in ScanSource by 5.0% in the 1st quarter. Vanguard Group Inc. now owns 2,299,971 shares of the industrial products company’s stock worth $90,273,000 after acquiring an additional 109,814 shares in the last quarter. Finally, Prudential Financial Inc. increased its holdings in ScanSource by 47.3% in the 1st quarter. Prudential Financial Inc. now owns 274,839 shares of the industrial products company’s stock worth $10,788,000 after acquiring an additional 88,192 shares in the last quarter. 93.98% of the stock is owned by hedge funds and other institutional investors.
ScanSource Company Profile
ScanSource, Inc is a provider of technology products and solutions. The Company and its subsidiaries provide solutions for technology manufacturers and sell to resellers in technology markets, such as point-of-sale (POS) and Barcode, Networking and Security, Communications and Emerging Technologies. It operates through two segments: Worldwide Barcode & Security and Worldwide Communications & Services.
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