ScanSource, Inc. (NASDAQ:SCSC) CEO Michael L. Baur Sells 29,617 Shares

ScanSource, Inc. (NASDAQ:SCSC) CEO Michael L. Baur sold 29,617 shares of the company’s stock in a transaction that occurred on Thursday, November 14th. The shares were sold at an average price of $49.20, for a total transaction of $1,457,156.40. Following the completion of the sale, the chief executive officer now owns 177,760 shares of the company’s stock, valued at approximately $8,745,792. This trade represents a 14.28 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link.

ScanSource Stock Performance

Shares of ScanSource stock traded up $0.49 on Monday, reaching $49.38. The stock had a trading volume of 157,046 shares, compared to its average volume of 210,741. ScanSource, Inc. has a fifty-two week low of $31.01 and a fifty-two week high of $53.76. The business’s 50-day moving average price is $47.41 and its two-hundred day moving average price is $47.17. The company has a debt-to-equity ratio of 0.15, a quick ratio of 1.27 and a current ratio of 2.03. The stock has a market cap of $1.18 billion, a P/E ratio of 15.83, a price-to-earnings-growth ratio of 1.39 and a beta of 1.42.

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

Analyst Upgrades and Downgrades

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

Institutional Investors Weigh In On ScanSource

Several hedge funds have recently modified their holdings of SCSC. Pacer Advisors Inc. grew its position in ScanSource by 54.2% in the 2nd quarter. Pacer Advisors Inc. now owns 2,319,469 shares of the industrial products company’s stock worth $102,776,000 after purchasing an additional 815,240 shares during the last quarter. American Century Companies Inc. increased its stake in ScanSource by 75.5% during the second quarter. American Century Companies Inc. now owns 521,127 shares of the industrial products company’s stock valued at $23,091,000 after acquiring an additional 224,160 shares during the period. Millennium Management LLC raised its holdings in ScanSource by 2,640.7% in the 2nd quarter. Millennium Management LLC now owns 136,266 shares of the industrial products company’s stock valued at $6,038,000 after acquiring an additional 131,294 shares in the last quarter. Wasatch Advisors LP lifted its position in shares of ScanSource by 13.2% in the 3rd quarter. Wasatch Advisors LP now owns 1,097,992 shares of the industrial products company’s stock worth $52,737,000 after acquiring an additional 127,883 shares during the period. Finally, Vanguard Group Inc. grew its holdings in shares of ScanSource by 1.2% during the 1st quarter. Vanguard Group Inc. now owns 3,479,683 shares of the industrial products company’s stock worth $153,245,000 after purchasing an additional 40,264 shares in the last quarter. 97.91% of the stock is owned by institutional investors.

ScanSource Company Profile

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.