ScanSource (NASDAQ:SCSC) CEO Sells $1,109,889.00 in Stock

ScanSource, Inc. (NASDAQ:SCSC) CEO Michael Baur sold 19,980 shares of the business’s stock in a transaction on Thursday, September 10th. The shares were sold at an average price of $55.55, for a total value of $1,109,889.00. Following the completion of the sale, the chief executive officer owned 200,698 shares of the company’s stock, valued at $11,148,773.90. This trade represents a 9.05% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link.

ScanSource Stock Performance

Shares of NASDAQ SCSC opened at $56.72 on Thursday. The company has a debt-to-equity ratio of 0.11, a current ratio of 1.76 and a quick ratio of 1.15. The firm has a market cap of $1.14 billion, a price-to-earnings ratio of 15.50, a P/E/G ratio of 0.84 and a beta of 1.24. The stock’s fifty day moving average price is $55.52 and its two-hundred day moving average price is $47.06. ScanSource, Inc. has a one year low of $33.76 and a one year high of $66.78.

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

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of SCSC. Engineers Gate Manager LP acquired a new stake in ScanSource during the second quarter worth about $999,000. HighTower Advisors LLC bought a new position in ScanSource in the 2nd quarter valued at about $246,000. VIRGINIA RETIREMENT SYSTEMS ET Al acquired a new position in shares of ScanSource in the 2nd quarter valued at approximately $474,000. Susquehanna International Group LLP raised its position in shares of ScanSource by 118.6% in the 2nd quarter. Susquehanna International Group LLP now owns 17,539 shares of the industrial products company’s stock valued at $914,000 after buying an additional 9,515 shares in the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its holdings in shares of ScanSource by 5.0% during the 2nd 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 worth $2,313,000 after acquiring an additional 2,126 shares during the period. Institutional investors own 97.91% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts have issued reports on SCSC shares. Northcoast Research downgraded shares of ScanSource from a “buy” rating to a “neutral” rating in a report on Monday, August 17th. Weiss Ratings reaffirmed a “hold (c+)” rating on shares of ScanSource in a report on Wednesday, August 26th. Zacks Research raised shares of ScanSource from a “hold” rating to a “strong-buy” rating in a report on Monday, August 24th. Finally, Wall Street Zen upgraded 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 given a Hold rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $43.00.

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.