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

ScanSource, Inc. (NASDAQ:SCSC) CEO Michael Baur sold 21,173 shares of ScanSource stock in a transaction on Friday, March 13th. The stock was sold at an average price of $35.76, for a total value of $757,146.48. Following the sale, the chief executive officer owned 161,339 shares in the company, valued at $5,769,482.64. The trade was a 11.60% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website.

ScanSource Stock Performance

Shares of NASDAQ:SCSC traded up $0.11 during midday trading on Tuesday, reaching $35.56. The company had a trading volume of 153,189 shares, compared to its average volume of 216,886. The stock has a market cap of $763.83 million, a P/E ratio of 10.91, a P/E/G ratio of 0.61 and a beta of 1.29. The company’s 50 day moving average price is $38.71 and its 200 day moving average price is $40.81. 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 52-week low of $28.75 and a 52-week high of $46.25.

ScanSource (NASDAQ:SCSC) last posted its quarterly earnings data 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). The company had revenue of $766.51 million for the quarter, compared to analysts’ expectations of $782.46 million. ScanSource had a return on equity of 9.35% and a net margin of 2.44%.The business’s quarterly revenue was up 2.5% on a year-over-year basis. During the same quarter last year, the business posted $0.85 EPS. As a group, sell-side analysts anticipate that ScanSource, Inc. will post 3.33 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of SCSC. Canada Pension Plan Investment Board purchased a new position in ScanSource in the 2nd quarter valued at approximately $25,000. Royal Bank of Canada lifted its position in shares of ScanSource by 165.0% during the fourth quarter. Royal Bank of Canada now owns 1,876 shares of the industrial products company’s stock worth $73,000 after acquiring an additional 1,168 shares in the last quarter. CWM LLC boosted its holdings in shares of ScanSource by 159.6% in the third quarter. CWM LLC now owns 1,874 shares of the industrial products company’s stock worth $82,000 after acquiring an additional 1,152 shares during the period. Osaic Holdings Inc. boosted its holdings in shares of ScanSource by 400.5% in the second quarter. Osaic Holdings Inc. now owns 2,087 shares of the industrial products company’s stock worth $87,000 after acquiring an additional 1,670 shares during the period. Finally, Tower Research Capital LLC TRC grew its position in shares of 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 in the last quarter. 97.91% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

SCSC has been the topic of several research analyst reports. Weiss Ratings reiterated a “hold (c)” rating on shares of ScanSource in a research note on Monday, December 29th. Wall Street Zen lowered ScanSource from a “buy” rating to a “hold” rating in a research note on Saturday, January 17th. Finally, Zacks Research cut ScanSource from a “hold” rating to a “strong sell” rating in a research report on Monday, February 9th. One equities research analyst has rated the stock with a Buy rating, two have issued a Hold rating and one has given a Sell rating to the company. According to MarketBeat, ScanSource currently has an average rating of “Hold” and an average price target of $42.50.

About ScanSource

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.