Insider Selling: ScanSource (NASDAQ:SCSC) CEO Sells $3,329,116.36 in Stock

ScanSource, Inc. (NASDAQ:SCSC) CEO Michael Baur sold 57,359 shares of the company’s stock in a transaction on Friday, September 11th. The shares were sold at an average price of $58.04, for a total transaction of $3,329,116.36. Following the sale, the chief executive officer directly owned 200,698 shares in the company, valued at $11,648,511.92. This trade represents a 22.23% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link.

ScanSource Trading Up 0.7%

Shares of SCSC stock traded up $0.40 during mid-day trading on Monday, hitting $58.59. The company’s stock had a trading volume of 208,546 shares, compared to its average volume of 237,687. The company’s fifty day simple moving average is $55.15 and its 200-day simple moving average is $46.61. ScanSource, Inc. has a 52 week low of $33.76 and a 52 week high of $66.78. The company has a debt-to-equity ratio of 0.11, a quick ratio of 1.15 and a current ratio of 1.76. The company has a market cap of $1.18 billion, a PE ratio of 16.01, a P/E/G ratio of 0.85 and a beta of 1.24.

ScanSource (NASDAQ:SCSC) last announced its quarterly earnings data on Thursday, August 20th. The industrial products company reported $1.46 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.14 by $0.32. ScanSource had a return on equity of 10.10% and a net margin of 2.44%.The company had revenue of $953.11 million for the quarter, compared to the consensus estimate of $814.35 million. During the same period in the previous year, the business earned $1.02 EPS. The firm’s revenue was up 17.3% compared to the same quarter last year. As a group, equities research analysts expect that ScanSource, Inc. will post 4.56 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of research firms have issued reports on SCSC. Zacks Research upgraded ScanSource from a “hold” rating to a “strong-buy” rating in a report on Monday, August 24th. Weiss Ratings reiterated a “hold (c+)” rating on shares of ScanSource in a research note on Wednesday, August 26th. Wall Street Zen upgraded shares of ScanSource from a “buy” rating to a “strong-buy” rating in a research report on Saturday, August 29th. Finally, Northcoast Research downgraded shares of ScanSource from a “buy” rating to a “neutral” rating in a research report on Monday, August 17th. One research analyst has rated the stock with a Strong Buy rating and three have issued a Hold rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $43.00.

Institutional Trading of ScanSource

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in SCSC. BlackRock Inc. acquired a new stake in shares of ScanSource in the 2nd quarter worth about $200,140,000. California State Teachers Retirement System boosted its stake in ScanSource by 4,972.0% during the 2nd quarter. California State Teachers Retirement System now owns 1,338,036 shares of the industrial products company’s stock valued at $69,698,000 after purchasing an additional 1,311,655 shares during the last quarter. Pzena Investment Management LLC acquired a new position in ScanSource during the 2nd quarter valued at about $57,807,000. LSV Asset Management increased its holdings in ScanSource by 40.6% during the 4th quarter. LSV Asset Management now owns 847,863 shares of the industrial products company’s stock worth $33,118,000 after purchasing an additional 244,903 shares in the last quarter. Finally, SG Americas Securities LLC increased its holdings in ScanSource by 74.4% during the 1st quarter. SG Americas Securities LLC now owns 494,988 shares of the industrial products company’s stock worth $17,968,000 after purchasing an additional 211,232 shares in the last quarter. 97.91% of the stock is owned by institutional investors.

About ScanSource

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.