ScanSource (NASDAQ:SCSC) CEO Michael Baur Sells 3,827 Shares of Stock

ScanSource, Inc. (NASDAQ:SCSC) CEO Michael Baur sold 3,827 shares of the business’s stock in a transaction dated Monday, March 16th. The stock was sold at an average price of $35.89, for a total value of $137,351.03. Following the transaction, the chief executive officer directly owned 157,512 shares of the company’s stock, valued at $5,653,105.68. The trade was a 2.37% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this hyperlink.

ScanSource Stock Up 0.3%

SCSC stock opened at $35.56 on Wednesday. The company’s 50 day moving average is $38.64 and its 200 day moving average is $40.75. The stock has a market cap of $763.83 million, a price-to-earnings ratio of 10.91, a price-to-earnings-growth ratio of 0.60 and a beta of 1.29. The company has a current ratio of 1.96, a quick ratio of 1.22 and a debt-to-equity ratio of 0.11. ScanSource, Inc. has a 1-year low of $28.75 and a 1-year high of $46.25.

ScanSource (NASDAQ:SCSC) last announced its 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). ScanSource had a net margin of 2.44% and a return on equity of 9.35%. The company had revenue of $766.51 million for the quarter, compared to the consensus estimate of $782.46 million. During the same quarter in the previous year, the firm earned $0.85 earnings per share. The company’s revenue for the quarter was up 2.5% compared to the same quarter last year. Sell-side analysts predict that ScanSource, Inc. will post 3.33 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several large investors have recently modified their holdings of the stock. Y Intercept Hong Kong Ltd bought a new stake in shares of ScanSource in the 3rd quarter valued at about $611,000. JPMorgan Chase & Co. grew its position in ScanSource by 15.9% during the 3rd quarter. JPMorgan Chase & Co. now owns 430,267 shares of the industrial products company’s stock worth $18,927,000 after acquiring an additional 58,947 shares during the last quarter. LSV Asset Management grew its position in ScanSource by 11.9% during the 3rd quarter. LSV Asset Management now owns 602,960 shares of the industrial products company’s stock worth $26,524,000 after acquiring an additional 64,300 shares during the last quarter. New York State Common Retirement Fund increased its stake in ScanSource by 326.9% in the 3rd quarter. New York State Common Retirement Fund now owns 36,696 shares of the industrial products company’s stock worth $1,614,000 after purchasing an additional 28,100 shares during the period. Finally, Envestnet Asset Management Inc. lifted its position in ScanSource by 90.4% in the second quarter. Envestnet Asset Management Inc. now owns 14,151 shares of the industrial products company’s stock valued at $592,000 after purchasing an additional 6,720 shares during the last quarter. Hedge funds and other institutional investors own 97.91% of the company’s stock.

Wall Street Analyst Weigh In

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

About ScanSource

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.