Michael Baur Sells 21,173 Shares of ScanSource (NASDAQ:SCSC) Stock

ScanSource, Inc. (NASDAQ:SCSC) CEO Michael Baur sold 21,173 shares of the firm’s stock in a transaction that occurred on Friday, March 13th. The shares were sold at an average price of $35.76, for a total transaction of $757,146.48. Following the completion of the transaction, the chief executive officer directly owned 161,339 shares of the company’s stock, valued at $5,769,482.64. This represents a 11.60% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink.

ScanSource Stock Down 3.6%

ScanSource stock opened at $34.27 on Thursday. The firm has a market capitalization of $736.12 million, a P/E ratio of 10.51, a P/E/G 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 twelve month low of $28.75 and a twelve month high of $46.25. The stock’s fifty day simple moving average is $38.53 and its 200-day simple moving average is $40.70.

ScanSource (NASDAQ:SCSC) last released its earnings results on Thursday, February 5th. The industrial products company reported $0.80 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates 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 during the quarter, compared to analysts’ expectations of $782.46 million. During the same quarter last year, the business posted $0.85 earnings per share. The company’s revenue for the quarter was up 2.5% on a year-over-year basis. As a group, equities analysts expect that ScanSource, Inc. will post 3.33 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in SCSC. Canada Pension Plan Investment Board purchased a new position in shares of ScanSource in the 2nd quarter valued at about $25,000. Royal Bank of Canada boosted its holdings in ScanSource by 165.0% in the fourth quarter. Royal Bank of Canada now owns 1,876 shares of the industrial products company’s stock valued at $73,000 after purchasing an additional 1,168 shares in the last quarter. CWM LLC boosted its holdings in ScanSource by 159.6% in the third quarter. CWM LLC now owns 1,874 shares of the industrial products company’s stock valued at $82,000 after purchasing an additional 1,152 shares in the last quarter. Osaic Holdings Inc. increased its stake in ScanSource by 400.5% in the second quarter. Osaic Holdings Inc. now owns 2,087 shares of the industrial products company’s stock valued at $87,000 after purchasing an additional 1,670 shares during the last quarter. Finally, Tower Research Capital LLC TRC increased its stake in ScanSource by 672.0% in the second quarter. Tower Research Capital LLC TRC now owns 4,632 shares of the industrial products company’s stock valued at $194,000 after purchasing an additional 4,032 shares during the last quarter. 97.91% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

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

ScanSource Company Profile

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.