Michael Baur Sells 9,559 Shares of ScanSource (NASDAQ:SCSC) Stock

ScanSource, Inc. (NASDAQ:SCSC) CEO Michael Baur sold 9,559 shares of the business’s stock in a transaction that occurred on Monday, December 15th. The stock was sold at an average price of $40.82, for a total transaction of $390,198.38. Following the sale, the chief executive officer directly owned 191,971 shares of the company’s stock, valued at approximately $7,836,256.22. This trade represents a 4.74% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website.

ScanSource Trading Up 2.7%

SCSC stock traded up $1.08 during midday trading on Tuesday, reaching $41.74. The company’s stock had a trading volume of 194,599 shares, compared to its average volume of 156,630. The business’s 50-day simple moving average is $41.35 and its 200-day simple moving average is $41.98. The company has a quick ratio of 1.32, a current ratio of 2.16 and a debt-to-equity ratio of 0.14. ScanSource, Inc. has a 52 week low of $28.75 and a 52 week high of $53.15. The stock has a market cap of $915.78 million, a PE ratio of 13.00, a price-to-earnings-growth ratio of 0.66 and a beta of 1.29.

ScanSource (NASDAQ:SCSC) last posted its quarterly earnings results on Thursday, November 6th. The industrial products company reported $1.06 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.91 by $0.15. The business had revenue of $739.65 million for the quarter, compared to analyst estimates of $787.37 million. ScanSource had a return on equity of 9.72% and a net margin of 2.48%.The firm’s revenue was down 4.6% on a year-over-year basis. During the same period last year, the company earned $0.84 EPS. As a group, sell-side analysts expect that ScanSource, Inc. will post 3.33 EPS for the current year.

Wall Street Analysts Forecast Growth

SCSC has been the topic of several recent research reports. Wall Street Zen upgraded shares of ScanSource from a “hold” rating to a “buy” rating in a research note on Saturday, November 22nd. Weiss Ratings reissued a “hold (c)” rating on shares of ScanSource in a report on Monday. Barclays started coverage on shares of ScanSource in a research report on Tuesday, October 7th. They set an “equal weight” rating and a $43.00 price objective for the company. Finally, Zacks Research cut shares of ScanSource from a “strong-buy” rating to a “hold” rating in a report on Tuesday, October 21st. One equities research analyst has rated the stock with a Buy rating and three have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of $42.50.

Institutional Trading of ScanSource

A number of institutional investors have recently modified their holdings of SCSC. Canada Pension Plan Investment Board acquired a new stake in ScanSource during the second quarter worth about $25,000. CWM LLC boosted its stake in shares of ScanSource by 159.6% in the 3rd 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. lifted its stake in ScanSource by 400.5% in the 2nd 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. Quarry LP boosted its position in ScanSource by 344.3% in the first quarter. Quarry LP now owns 3,541 shares of the industrial products company’s stock valued at $120,000 after buying an additional 2,744 shares in the last quarter. Finally, Mitsubishi UFJ Asset Management Co. Ltd. grew its stake in shares of ScanSource by 22.3% during the second quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 2,879 shares of the industrial products company’s stock worth $120,000 after buying an additional 524 shares during the last quarter. 97.91% of the stock is currently owned by institutional investors.

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.