Insider Selling: ScanSource (NASDAQ:SCSC) CEO Sells $1,109,889.00 in Stock

ScanSource, Inc. (NASDAQ:SCSC) CEO Michael Baur sold 19,980 shares of the business’s stock in a transaction that occurred on Thursday, September 10th. The shares were sold at an average price of $55.55, for a total value of $1,109,889.00. Following the completion of the sale, the chief executive officer owned 200,698 shares of the company’s stock, valued at approximately $11,148,773.90. This trade represents a 9.05% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website.

ScanSource Price Performance

NASDAQ:SCSC traded up $0.40 during trading hours on Monday, reaching $58.59. 208,546 shares of the company were exchanged, compared to its average volume of 237,687. The business has a 50 day moving average of $55.15 and a 200 day moving average of $46.61. ScanSource, Inc. has a 1-year low of $33.76 and a 1-year high of $66.78. The company has a debt-to-equity ratio of 0.11, a current ratio of 1.76 and a quick ratio of 1.15. The company has a market capitalization of $1.18 billion, a P/E ratio of 16.01, a P/E/G ratio of 0.85 and a beta of 1.24.

ScanSource (NASDAQ:SCSC) last announced its quarterly earnings data on Thursday, August 20th. The industrial products company reported $1.46 earnings per share for the quarter, beating the consensus estimate of $1.14 by $0.32. The firm had revenue of $953.11 million during the quarter, compared to analysts’ expectations of $814.35 million. ScanSource had a return on equity of 10.10% and a net margin of 2.44%.The company’s quarterly revenue was up 17.3% compared to the same quarter last year. During the same period in the previous year, the firm earned $1.02 EPS. Research analysts forecast that ScanSource, Inc. will post 4.56 EPS for the current year.

Institutional Trading of ScanSource

Several hedge funds and other institutional investors have recently made changes to their positions in SCSC. Royce & Associates LP lifted its position in ScanSource by 1.7% in the fourth quarter. Royce & Associates LP now owns 26,088 shares of the industrial products company’s stock valued at $1,019,000 after buying an additional 433 shares during the last quarter. WINTON GROUP Ltd increased its position in shares of ScanSource by 2.0% during the fourth quarter. WINTON GROUP Ltd now owns 26,020 shares of the industrial products company’s stock valued at $1,016,000 after acquiring an additional 510 shares during the last quarter. Wedge Capital Management L L P NC increased its position in shares of ScanSource by 2.8% during the second quarter. Wedge Capital Management L L P NC now owns 73,185 shares of the industrial products company’s stock valued at $3,812,000 after acquiring an additional 1,963 shares during the last quarter. Strs Ohio raised its stake in shares of ScanSource by 12.3% in the 1st quarter. Strs Ohio now owns 18,300 shares of the industrial products company’s stock valued at $664,000 after acquiring an additional 2,000 shares during the period. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its holdings in shares of ScanSource by 5.0% in the 2nd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 44,398 shares of the industrial products company’s stock worth $2,313,000 after acquiring an additional 2,126 shares during the last quarter. 97.91% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several research firms recently weighed in on SCSC. Weiss Ratings reaffirmed a “hold (c+)” rating on shares of ScanSource in a research report on Wednesday, August 26th. Wall Street Zen raised shares of ScanSource from a “buy” rating to a “strong-buy” rating in a report on Saturday, August 29th. Zacks Research upgraded shares of ScanSource from a “hold” rating to a “strong-buy” rating in a research report on Monday, August 24th. Finally, Northcoast Research downgraded shares of ScanSource from a “buy” rating to a “neutral” rating in a report on Monday, August 17th. One analyst has rated the stock with a Strong Buy rating and three have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $43.00.

ScanSource Company Profile

ScanSource, Inc is a technology distributor that connects manufacturers of hardware, software and cloud services with value-added resellers, systems integrators and other technology providers. The company supports partners with product distribution, technical expertise, training, financing and other services designed to help them deliver technology solutions to business and government customers.

ScanSource’s offerings include point-of-sale systems, barcode scanners, mobile computing devices, data-capture products, networking equipment and physical security technology.