ScanSource, Inc. (NASDAQ:SCSC) CEO Sells $1,457,156.40 in Stock

ScanSource, Inc. (NASDAQ:SCSC) CEO Michael L. Baur sold 29,617 shares of the firm’s stock in a transaction dated Thursday, November 14th. The stock was sold at an average price of $49.20, for a total value of $1,457,156.40. Following the sale, the chief executive officer now directly owns 177,760 shares in the company, valued at approximately $8,745,792. This trade represents a 14.28 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website.

ScanSource Trading Up 1.0 %

Shares of ScanSource stock opened at $49.38 on Tuesday. The company has a debt-to-equity ratio of 0.15, a current ratio of 2.03 and a quick ratio of 1.27. The stock’s 50 day simple moving average is $47.41 and its 200-day simple moving average is $47.17. The stock has a market cap of $1.18 billion, a P/E ratio of 15.83, a P/E/G ratio of 1.39 and a beta of 1.42. ScanSource, Inc. has a 1-year low of $31.01 and a 1-year high of $53.76.

ScanSource (NASDAQ:SCSC) last released its quarterly earnings data on Thursday, November 7th. The industrial products company reported $0.84 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.77 by $0.07. The firm had revenue of $775.58 million during the quarter, compared to analysts’ expectations of $774.90 million. ScanSource had a net margin of 2.49% and a return on equity of 8.53%. ScanSource’s revenue was down 11.5% compared to the same quarter last year. During the same period last year, the business earned $0.74 earnings per share. Analysts predict that ScanSource, Inc. will post 3.51 EPS for the current fiscal year.

Institutional Trading of ScanSource

A number of institutional investors and hedge funds have recently added to or reduced their stakes in SCSC. Vanguard Group Inc. boosted its holdings in ScanSource by 1.2% during the 1st quarter. Vanguard Group Inc. now owns 3,479,683 shares of the industrial products company’s stock valued at $153,245,000 after acquiring an additional 40,264 shares during the period. Pacer Advisors Inc. boosted its stake in shares of ScanSource by 18.3% in the third quarter. Pacer Advisors Inc. now owns 2,744,702 shares of the industrial products company’s stock valued at $131,828,000 after purchasing an additional 425,233 shares during the period. Dimensional Fund Advisors LP grew its holdings in shares of ScanSource by 2.0% in the second quarter. Dimensional Fund Advisors LP now owns 1,983,625 shares of the industrial products company’s stock valued at $87,894,000 after purchasing an additional 39,533 shares in the last quarter. Wasatch Advisors LP increased its stake in ScanSource by 13.2% during the 3rd quarter. Wasatch Advisors LP now owns 1,097,992 shares of the industrial products company’s stock worth $52,737,000 after buying an additional 127,883 shares during the period. Finally, American Century Companies Inc. lifted its holdings in ScanSource by 75.5% during the 2nd quarter. American Century Companies Inc. now owns 521,127 shares of the industrial products company’s stock worth $23,091,000 after buying an additional 224,160 shares in the last quarter. Hedge funds and other institutional investors own 97.91% of the company’s stock.

Wall Street Analysts Forecast Growth

Separately, Raymond James lowered ScanSource from an “outperform” rating to a “market perform” rating in a research note on Thursday, August 15th.

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.