ScanSource (NASDAQ:SCSC) CEO Sells $391,791.78 in Stock

ScanSource, Inc. (NASDAQ:SCSC) CEO Michael Baur sold 9,459 shares of the business’s stock in a transaction on Tuesday, December 16th. The shares were sold at an average price of $41.42, for a total value of $391,791.78. Following the sale, the chief executive officer owned 182,512 shares in the company, valued at approximately $7,559,647.04. The trade was a 4.93% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website.

ScanSource Price Performance

Shares of SCSC traded up $1.08 during midday trading on Tuesday, hitting $41.74. 194,599 shares of the company traded hands, compared to its average volume of 156,630. ScanSource, Inc. has a one year low of $28.75 and a one year high of $53.15. The firm has a market cap of $915.78 million, a P/E ratio of 13.00, a PEG ratio of 0.66 and a beta of 1.29. The company has a debt-to-equity ratio of 0.14, a current ratio of 2.16 and a quick ratio of 1.32. The stock has a 50-day moving average of $41.35 and a 200-day moving average of $41.98.

ScanSource (NASDAQ:SCSC) last issued its quarterly earnings data on Thursday, November 6th. The industrial products company reported $1.06 EPS for the quarter, beating the consensus estimate of $0.91 by $0.15. ScanSource had a net margin of 2.48% and a return on equity of 9.72%. The company had revenue of $739.65 million during the quarter, compared to analysts’ expectations of $787.37 million. During the same quarter in the previous year, the company earned $0.84 earnings per share. ScanSource’s revenue for the quarter was down 4.6% on a year-over-year basis. As a group, sell-side analysts predict that ScanSource, Inc. will post 3.33 EPS for the current fiscal year.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the company. Robeco Institutional Asset Management B.V. raised its stake in shares of ScanSource by 4.8% in the third quarter. Robeco Institutional Asset Management B.V. now owns 5,454 shares of the industrial products company’s stock worth $240,000 after purchasing an additional 250 shares during the last quarter. Nisa Investment Advisors LLC lifted its holdings in shares of ScanSource by 2.6% during the 2nd quarter. Nisa Investment Advisors LLC now owns 10,145 shares of the industrial products company’s stock valued at $424,000 after buying an additional 259 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its stake in shares of ScanSource by 2.2% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 13,859 shares of the industrial products company’s stock worth $471,000 after buying an additional 295 shares during the last quarter. State of Alaska Department of Revenue increased its position in ScanSource by 3.3% during the second quarter. State of Alaska Department of Revenue now owns 12,357 shares of the industrial products company’s stock valued at $516,000 after acquiring an additional 395 shares during the last quarter. Finally, Bailard Inc. lifted its holdings in ScanSource by 6.8% in the third quarter. Bailard Inc. now owns 6,300 shares of the industrial products company’s stock valued at $277,000 after acquiring an additional 400 shares during the period. Institutional investors own 97.91% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently commented on the stock. Barclays started coverage on shares of ScanSource in a report on Tuesday, October 7th. They issued an “equal weight” rating and a $43.00 price target on the stock. Weiss Ratings reissued a “hold (c)” rating on shares of ScanSource in a research note on Monday. Wall Street Zen raised ScanSource from a “hold” rating to a “buy” rating in a research note on Saturday, November 22nd. Finally, Zacks Research lowered ScanSource from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, October 21st. One analyst has rated the stock with a Buy rating and three have issued a Hold rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average 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.