ScanSource, Inc. (NASDAQ:SCSC) CEO Michael L. Baur sold 44,565 shares of the firm’s stock in a transaction on Friday, October 6th. The shares were sold at an average price of $44.16, for a total value of $1,967,990.40. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website.

Shares of ScanSource, Inc. (SCSC) traded up 0.11% during midday trading on Friday, reaching $44.30. The company’s stock had a trading volume of 69,539 shares. ScanSource, Inc. has a one year low of $29.05 and a one year high of $44.95. The stock has a market cap of $1.13 billion, a PE ratio of 16.35 and a beta of 1.16. The firm has a 50-day moving average of $39.70 and a 200-day moving average of $39.25.

ScanSource (NASDAQ:SCSC) last posted its quarterly earnings data on Tuesday, August 29th. The industrial products company reported $0.68 earnings per share for the quarter, hitting the Thomson Reuters’ consensus estimate of $0.68. ScanSource had a return on equity of 8.76% and a net margin of 1.94%. The business had revenue of $917.30 million for the quarter, compared to analysts’ expectations of $894.17 million. During the same quarter in the previous year, the firm earned $0.51 earnings per share. The business’s revenue was up 4.5% on a year-over-year basis. On average, analysts forecast that ScanSource, Inc. will post $3.07 EPS for the current year.

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Several hedge funds and other institutional investors have recently modified their holdings of SCSC. BlackRock Inc. lifted its position in shares of ScanSource by 42,757.8% during the 1st quarter. BlackRock Inc. now owns 3,121,763 shares of the industrial products company’s stock valued at $122,529,000 after buying an additional 3,114,479 shares during the last quarter. LSV Asset Management lifted its position in shares of ScanSource by 33.1% during the 2nd quarter. LSV Asset Management now owns 849,662 shares of the industrial products company’s stock valued at $34,241,000 after buying an additional 211,471 shares during the last quarter. Northern Trust Corp lifted its position in shares of ScanSource by 24.1% during the 2nd quarter. Northern Trust Corp now owns 666,664 shares of the industrial products company’s stock valued at $26,867,000 after buying an additional 129,636 shares during the last quarter. Vanguard Group Inc. lifted its position in shares of ScanSource by 5.0% during the 1st quarter. Vanguard Group Inc. now owns 2,299,971 shares of the industrial products company’s stock valued at $90,273,000 after buying an additional 109,814 shares during the last quarter. Finally, Prudential Financial Inc. lifted its position in shares of ScanSource by 47.3% during the 1st quarter. Prudential Financial Inc. now owns 274,839 shares of the industrial products company’s stock valued at $10,788,000 after buying an additional 88,192 shares during the last quarter. 93.98% of the stock is currently owned by hedge funds and other institutional investors.

Several equities research analysts have issued reports on the company. Northcoast Research downgraded ScanSource from a “buy” rating to a “neutral” rating in a report on Monday. Zacks Investment Research downgraded ScanSource from a “buy” rating to a “hold” rating in a report on Tuesday, September 5th. BidaskClub downgraded ScanSource from a “sell” rating to a “strong sell” rating in a report on Tuesday, August 8th. Finally, ValuEngine raised ScanSource from a “hold” rating to a “buy” rating in a report on Friday, September 1st. One analyst has rated the stock with a sell rating, three have assigned a hold rating and two have given a buy rating to the stock. ScanSource has an average rating of “Hold” and a consensus target price of $45.75.

About ScanSource

ScanSource, Inc is a provider of technology products and solutions. The Company and its subsidiaries provide solutions for technology manufacturers and sell to resellers in technology markets, such as point-of-sale (POS) and Barcode, Networking and Security, Communications and Emerging Technologies. It operates through two segments: Worldwide Barcode & Security and Worldwide Communications & Services.

Insider Buying and Selling by Quarter for ScanSource (NASDAQ:SCSC)

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