ScanSource, Inc. (SCSC) CEO Sells $780,962.72 in Stock
ScanSource, Inc. (NASDAQ:SCSC) CEO Michael L. Baur sold 17,621 shares of the firm’s stock in a transaction on Thursday, October 5th. The stock was sold at an average price of $44.32, for a total value of $780,962.72. Following the transaction, the chief executive officer now owns 35,209 shares in the company, valued at $1,560,462.88. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website.
Shares of ScanSource, Inc. (NASDAQ:SCSC) traded up 0.11% during mid-day 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 P/E ratio of 16.35 and a beta of 1.16. The stock 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 analysts’ consensus estimates 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 analyst estimates of $894.17 million. During the same quarter in the prior year, the company earned $0.51 earnings per share. The company’s revenue was up 4.5% on a year-over-year basis. On average, equities research analysts expect that ScanSource, Inc. will post $3.07 EPS for the current fiscal year.
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Several research firms have commented on SCSC. Northcoast Research downgraded ScanSource from a “buy” rating to a “neutral” rating in a report on Monday. BidaskClub cut ScanSource from a “hold” rating to a “sell” rating in a research report on Friday, July 28th. Zacks Investment Research raised ScanSource from a “sell” rating to a “hold” rating in a research report on Wednesday, July 12th. Finally, ValuEngine raised ScanSource from a “hold” rating to a “buy” rating in a research report on Friday, September 1st. One investment analyst has rated the stock with a sell rating, three have given a hold rating and two have assigned a buy rating to the stock. The company presently has an average rating of “Hold” and a consensus target price of $45.75.
Several institutional investors have recently bought and sold shares of SCSC. Victory Capital Management Inc. increased its position in shares of ScanSource by 17.6% during the second quarter. Victory Capital Management Inc. now owns 2,974 shares of the industrial products company’s stock worth $120,000 after acquiring an additional 446 shares during the period. SG Americas Securities LLC increased its holdings in ScanSource by 0.3% in the first quarter. SG Americas Securities LLC now owns 4,259 shares of the industrial products company’s stock valued at $167,000 after buying an additional 14 shares during the last quarter. State of Alaska Department of Revenue increased its holdings in ScanSource by 79.1% in the second quarter. State of Alaska Department of Revenue now owns 4,996 shares of the industrial products company’s stock valued at $201,000 after buying an additional 2,206 shares during the last quarter. CHICAGO TRUST Co NA purchased a new position in ScanSource in the second quarter valued at $218,000. Finally, Piedmont Investment Advisors LLC purchased a new position in ScanSource in the second quarter valued at $221,000. 93.98% of the stock is currently owned by institutional investors and hedge funds.
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.
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