Insider Selling: ScanSource (NASDAQ:SCSC) CEO Sells $757,146.48 in Stock

ScanSource, Inc. (NASDAQ:SCSC) CEO Michael Baur sold 21,173 shares of the company’s stock in a transaction dated Friday, March 13th. The shares were sold at an average price of $35.76, for a total transaction of $757,146.48. Following the transaction, the chief executive officer directly owned 161,339 shares of the company’s stock, valued at $5,769,482.64. This represents a 11.60% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website.

ScanSource Stock Up 2.1%

NASDAQ SCSC opened at $35.00 on Friday. ScanSource, Inc. has a twelve month low of $28.75 and a twelve month high of $46.25. The stock has a market cap of $751.80 million, a PE ratio of 10.74, a PEG ratio of 0.58 and a beta of 1.29. The firm has a 50-day simple moving average of $38.42 and a 200 day simple moving average of $40.67. The company has a debt-to-equity ratio of 0.11, a quick ratio of 1.22 and a current ratio of 1.96.

ScanSource (NASDAQ:SCSC) last issued its quarterly earnings results on Thursday, February 5th. The industrial products company reported $0.80 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.00 by ($0.20). The firm had revenue of $766.51 million for 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%. The company’s revenue was up 2.5% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.85 earnings per share. On average, research analysts forecast that ScanSource, Inc. will post 3.33 EPS for the current year.

Institutional Investors Weigh In On ScanSource

A number of institutional investors have recently added to or reduced their stakes in SCSC. Canada Pension Plan Investment Board acquired a new position in shares of ScanSource in the 2nd quarter worth approximately $25,000. CWM LLC boosted its stake in ScanSource by 159.6% in 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 boosted its stake in ScanSource by 165.0% in the 4th quarter. Royal Bank of Canada now owns 1,876 shares of the industrial products company’s stock valued at $73,000 after buying an additional 1,168 shares in 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 valued at $87,000 after acquiring an additional 1,670 shares during the period. Finally, Tower Research Capital LLC TRC raised its stake in ScanSource by 672.0% during 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 owned by institutional investors and hedge funds.

Analysts Set New Price Targets

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

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.