Michael Baur Sells 9,559 Shares of ScanSource (NASDAQ:SCSC) Stock

ScanSource, Inc. (NASDAQ:SCSC) CEO Michael Baur sold 9,559 shares of ScanSource stock in a transaction dated Monday, December 15th. The shares were sold at an average price of $40.82, for a total transaction of $390,198.38. Following the sale, the chief executive officer owned 191,971 shares of the company’s stock, valued at approximately $7,836,256.22. This represents a 4.74% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website.

ScanSource Stock Performance

Shares of SCSC stock opened at $41.49 on Thursday. The company has a debt-to-equity ratio of 0.14, a quick ratio of 1.32 and a current ratio of 2.16. The firm has a market cap of $910.29 million, a P/E ratio of 12.93, a P/E/G ratio of 0.67 and a beta of 1.29. The firm’s 50 day moving average price is $41.33 and its 200-day moving average price is $41.97. ScanSource, Inc. has a one year low of $28.75 and a one year high of $52.12.

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

Analysts Set New Price Targets

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

Institutional Trading of ScanSource

A number of large investors have recently made changes to their positions in SCSC. Jacobs Levy Equity Management Inc. raised its holdings in ScanSource by 65.6% in the third quarter. Jacobs Levy Equity Management Inc. now owns 389,915 shares of the industrial products company’s stock valued at $17,152,000 after acquiring an additional 154,518 shares in the last quarter. CANADA LIFE ASSURANCE Co increased its position in shares of ScanSource by 7.2% in the 3rd quarter. CANADA LIFE ASSURANCE Co now owns 19,168 shares of the industrial products company’s stock valued at $845,000 after purchasing an additional 1,291 shares during the last quarter. Wasatch Advisors LP raised its holdings in shares of ScanSource by 34.9% in the 3rd quarter. Wasatch Advisors LP now owns 1,139,573 shares of the industrial products company’s stock valued at $50,130,000 after purchasing an additional 294,624 shares in the last quarter. Verition Fund Management LLC lifted its position in shares of ScanSource by 37.4% during the 3rd quarter. Verition Fund Management LLC now owns 41,725 shares of the industrial products company’s stock worth $1,835,000 after purchasing an additional 11,368 shares during the last quarter. Finally, Polymer Capital Management US LLC acquired a new position in shares of ScanSource during the third quarter worth $356,000. 97.91% of the stock is currently owned by hedge funds and other institutional investors.

About ScanSource

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.