Michael Baur Sells 982 Shares of ScanSource (NASDAQ:SCSC) Stock

ScanSource, Inc. (NASDAQ:SCSC) CEO Michael Baur sold 982 shares of the business’s stock in a transaction that occurred on Friday, December 12th. The shares were sold at an average price of $42.09, for a total transaction of $41,332.38. Following the sale, the chief executive officer owned 201,530 shares in the company, valued at $8,482,397.70. This represents a 0.48% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink.

ScanSource Stock Up 2.7%

NASDAQ SCSC traded up $1.08 during trading on Tuesday, reaching $41.74. 194,599 shares of the company’s stock were exchanged, compared to its average volume of 156,630. The firm has a market capitalization of $915.78 million, a PE ratio of 13.00, a P/E/G ratio of 0.66 and a beta of 1.29. ScanSource, Inc. has a fifty-two week low of $28.75 and a fifty-two week high of $53.15. The company has a current ratio of 2.16, a quick ratio of 1.32 and a debt-to-equity ratio of 0.14. The company’s fifty day simple moving average is $41.35 and its 200-day simple moving average is $41.98.

ScanSource (NASDAQ:SCSC) last posted its quarterly earnings results on Thursday, November 6th. The industrial products company reported $1.06 EPS for the quarter, topping the consensus estimate of $0.91 by $0.15. The business had revenue of $739.65 million during the quarter, compared to analysts’ expectations of $787.37 million. ScanSource had a net margin of 2.48% and a return on equity of 9.72%. The firm’s quarterly revenue was down 4.6% compared to the same quarter last year. During the same period last year, the company posted $0.84 earnings per share. Sell-side analysts predict that ScanSource, Inc. will post 3.33 EPS for the current year.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of SCSC. Envestnet Asset Management Inc. increased its holdings in shares of ScanSource by 90.4% during the second quarter. Envestnet Asset Management Inc. now owns 14,151 shares of the industrial products company’s stock worth $592,000 after buying an additional 6,720 shares in the last quarter. Strs Ohio bought a new position in ScanSource during the 1st quarter worth $558,000. American Century Companies Inc. lifted its stake in shares of ScanSource by 4.4% in the second quarter. American Century Companies Inc. now owns 854,624 shares of the industrial products company’s stock worth $35,732,000 after acquiring an additional 36,161 shares during the period. Acadian Asset Management LLC boosted its stake in shares of ScanSource by 25.3% in the 1st quarter. Acadian Asset Management LLC now owns 137,359 shares of the industrial products company’s stock valued at $4,665,000 after purchasing an additional 27,707 shares during the last quarter. Finally, Exchange Traded Concepts LLC lifted its holdings in ScanSource by 6.1% in the second quarter. Exchange Traded Concepts LLC now owns 30,526 shares of the industrial products company’s stock valued at $1,276,000 after buying an additional 1,753 shares during the period. 97.91% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of research firms have issued reports on SCSC. Barclays initiated coverage on shares of ScanSource in a research note on Tuesday, October 7th. They issued an “equal weight” rating and a $43.00 target price for the company. Weiss Ratings reissued a “hold (c)” rating on shares of ScanSource in a research report on Monday. Zacks Research lowered ScanSource from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, October 21st. Finally, Wall Street Zen upgraded ScanSource from a “hold” rating to a “buy” rating in a research report on Saturday, November 22nd. One research analyst has rated the stock with a Buy rating and three have issued a Hold rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Hold” and a consensus price target of $42.50.

ScanSource Company Profile

ScanSource, Inc engages in the distribution of technology products and solutions in the United States, Canada, and Brazil. It operates through two segments, Specialty Technology Solutions and Modern Communications & Cloud. The Specialty Technology Solutions segment provides a portfolio of solutions primarily for enterprise mobile computing, data capture, barcode printing, point of sale (POS), payments, networking, electronic physical security, cyber security, and other technologies.