ScanSource, Inc. (NASDAQ:SCSC) CEO Michael L. Baur Sells 8,312 Shares

ScanSource, Inc. (NASDAQ:SCSC) CEO Michael L. Baur sold 8,312 shares of ScanSource stock in a transaction that occurred on Wednesday, November 20th. The stock was sold at an average price of $48.98, for a total value of $407,121.76. Following the transaction, the chief executive officer now owns 177,760 shares in the company, valued at approximately $8,706,684.80. The trade was a 4.47 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink.

ScanSource Price Performance

NASDAQ:SCSC opened at $51.10 on Friday. ScanSource, Inc. has a 52 week low of $31.01 and a 52 week high of $53.76. The company has a quick ratio of 1.27, a current ratio of 2.03 and a debt-to-equity ratio of 0.15. The company has a market capitalization of $1.22 billion, a P/E ratio of 16.38, a P/E/G ratio of 1.42 and a beta of 1.42. The stock’s fifty day moving average is $47.78 and its two-hundred day moving average is $47.29.

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

Institutional Investors Weigh In On ScanSource

A number of institutional investors and hedge funds have recently added to or reduced their stakes in SCSC. Pacer Advisors Inc. raised its position in 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. grew its stake in shares of ScanSource by 75.5% in 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 buying an additional 224,160 shares in the last quarter. Millennium Management LLC grew its stake in shares of ScanSource by 2,640.7% in the second quarter. Millennium Management LLC now owns 136,266 shares of the industrial products company’s stock valued at $6,038,000 after buying an additional 131,294 shares in the last quarter. Wasatch Advisors LP grew its stake in shares of ScanSource by 13.2% in the third quarter. Wasatch Advisors LP now owns 1,097,992 shares of the industrial products company’s stock valued at $52,737,000 after buying an additional 127,883 shares in the last quarter. Finally, Vanguard Group Inc. grew its stake in shares of ScanSource by 1.2% in the first quarter. Vanguard Group Inc. now owns 3,479,683 shares of the industrial products company’s stock valued at $153,245,000 after buying an additional 40,264 shares in the last quarter. Hedge funds and other institutional investors own 97.91% of the company’s stock.

Analyst Upgrades and Downgrades

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

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.