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 value of $1,457,156.40. Following the completion of the sale, the chief executive officer now directly owns 177,760 shares in the company, valued at approximately $8,745,792. The trade was a 14.28 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink.

ScanSource Trading Down 0.5 %

Shares of SCSC opened at $49.15 on Wednesday. ScanSource, Inc. has a twelve month low of $31.01 and a twelve month high of $53.76. The firm has a market capitalization of $1.17 billion, a P/E ratio of 15.75, a price-to-earnings-growth ratio of 1.39 and a beta of 1.42. The company has a current ratio of 2.03, a quick ratio of 1.27 and a debt-to-equity ratio of 0.15. The stock’s fifty day simple moving average is $47.50 and its 200 day simple moving average is $47.21.

ScanSource (NASDAQ:SCSC) last posted its earnings results on Thursday, November 7th. The industrial products company reported $0.84 earnings per share (EPS) for the quarter, topping 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 firm had revenue of $775.58 million during the quarter, compared to the consensus estimate of $774.90 million. During the same quarter in the prior year, the company earned $0.74 EPS. The company’s revenue was down 11.5% on a year-over-year basis. On average, equities research analysts forecast that ScanSource, Inc. will post 3.51 earnings per share for the current year.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently modified their holdings of the stock. Pacer Advisors Inc. boosted its stake in shares of ScanSource by 54.2% in the second quarter. Pacer Advisors Inc. now owns 2,319,469 shares of the industrial products company’s stock valued at $102,776,000 after purchasing an additional 815,240 shares during the period. American Century Companies Inc. raised 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 worth $23,091,000 after acquiring an additional 224,160 shares during the period. Millennium Management LLC increased its position in ScanSource by 2,640.7% in the second quarter. Millennium Management LLC now owns 136,266 shares of the industrial products company’s stock worth $6,038,000 after buying an additional 131,294 shares during the period. Wasatch Advisors LP increased its holdings 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 position in ScanSource by 1.2% in 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 during the last quarter. Institutional investors and hedge funds own 97.91% of the company’s stock.

Wall Street Analysts Forecast Growth

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

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.