ScanSource, Inc. (SCSC) CEO Sells $601,978.00 in Stock
ScanSource, Inc. (NASDAQ:SCSC) CEO Michael L. Baur sold 13,700 shares of the stock in a transaction on Wednesday, October 4th. The stock was sold at an average price of $43.94, for a total value of $601,978.00. Following the completion of the transaction, the chief executive officer now owns 35,209 shares in the company, valued at $1,547,083.46. The sale was disclosed in a document filed with the SEC, which can be accessed through this link.
Shares of ScanSource, Inc. (NASDAQ:SCSC) traded up 0.11% during trading on Friday, reaching $44.30. The company’s stock had a trading volume of 69,539 shares. The stock’s 50 day moving average is $39.70 and its 200 day moving average is $39.25. The firm has a market cap of $1.13 billion, a P/E ratio of 16.35 and a beta of 1.16. ScanSource, Inc. has a one year low of $29.05 and a one year high of $44.95.
ScanSource (NASDAQ:SCSC) last issued its quarterly earnings results on Tuesday, August 29th. The industrial products company reported $0.68 earnings per share for the quarter, hitting the Thomson Reuters’ consensus estimate of $0.68. The company had revenue of $917.30 million for the quarter, compared to analysts’ expectations of $894.17 million. ScanSource had a return on equity of 8.76% and a net margin of 1.94%. The firm’s revenue for the quarter was up 4.5% on a year-over-year basis. During the same period in the prior year, the firm earned $0.51 earnings per share. On average, equities analysts forecast that ScanSource, Inc. will post $3.07 EPS for the current fiscal year.
WARNING: This story was published by The Cerbat Gem and is owned by of The Cerbat Gem. If you are reading this story on another publication, it was stolen and republished in violation of US and international copyright & trademark legislation. The correct version of this story can be read at https://www.thecerbatgem.com/2017/10/06/scansource-inc-scsc-ceo-sells-601978-00-in-stock.html.
A number of hedge funds have recently modified their holdings of the stock. Victory Capital Management Inc. boosted its holdings in ScanSource by 17.6% in the second quarter. Victory Capital Management Inc. now owns 2,974 shares of the industrial products company’s stock worth $120,000 after acquiring an additional 446 shares in the last quarter. SG Americas Securities LLC boosted its holdings in ScanSource by 0.3% in the first quarter. SG Americas Securities LLC now owns 4,259 shares of the industrial products company’s stock worth $167,000 after acquiring an additional 14 shares in the last quarter. State of Alaska Department of Revenue boosted its holdings in ScanSource by 79.1% in the second quarter. State of Alaska Department of Revenue now owns 4,996 shares of the industrial products company’s stock worth $201,000 after acquiring an additional 2,206 shares in the last quarter. CHICAGO TRUST Co NA bought a new stake in ScanSource in the second quarter worth $218,000. Finally, Piedmont Investment Advisors LLC bought a new stake in ScanSource in the second quarter worth $221,000. 93.98% of the stock is currently owned by institutional investors.
A number of brokerages recently issued reports on SCSC. Northcoast Research cut ScanSource from a “buy” rating to a “neutral” rating in a report on Monday. BidaskClub cut ScanSource from a “hold” rating to a “sell” rating in a report on Friday, July 28th. Zacks Investment Research upgraded ScanSource from a “sell” rating to a “hold” rating in a report on Wednesday, July 12th. Finally, ValuEngine upgraded ScanSource from a “hold” rating to a “buy” rating in a report on Friday, September 1st. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and two have issued a buy rating to the company’s stock. The company has an average rating of “Hold” and a consensus target price of $45.75.
ScanSource Company Profile
ScanSource, Inc is a provider of technology products and solutions. The Company and its subsidiaries provide solutions for technology manufacturers and sell to resellers in technology markets, such as point-of-sale (POS) and Barcode, Networking and Security, Communications and Emerging Technologies. It operates through two segments: Worldwide Barcode & Security and Worldwide Communications & Services.
Receive News & Stock Ratings for ScanSource Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for ScanSource Inc. and related stocks with our FREE daily email newsletter.