ScanSource, Inc. (NASDAQ:SCSC) CEO Sells $407,121.76 in Stock

ScanSource, Inc. (NASDAQ:SCSC) CEO Michael L. Baur sold 8,312 shares of the firm’s stock in a transaction dated Wednesday, November 20th. The stock was sold at an average price of $48.98, for a total value of $407,121.76. Following the sale, the chief executive officer now directly owns 177,760 shares in the company, valued at approximately $8,706,684.80. This trade represents a 4.47 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website.

ScanSource Stock Up 2.4 %

Shares of SCSC opened at $51.10 on Friday. The company has a current ratio of 2.03, a quick ratio of 1.27 and a debt-to-equity ratio of 0.15. ScanSource, Inc. has a 12 month low of $31.01 and a 12 month high of $53.76. The stock’s 50 day moving average is $47.78 and its two-hundred day moving average is $47.29. The firm has a market cap of $1.22 billion, a P/E ratio of 16.38, a PEG ratio of 1.42 and a beta of 1.42.

ScanSource (NASDAQ:SCSC) last issued its quarterly earnings data on Thursday, November 7th. The industrial products company reported $0.84 EPS for the quarter, beating the consensus estimate of $0.77 by $0.07. The company had revenue of $775.58 million for the quarter, compared to analyst estimates of $774.90 million. ScanSource had a return on equity of 8.53% and a net margin of 2.49%. ScanSource’s quarterly revenue was down 11.5% compared to the same quarter last year. During the same period last year, the company earned $0.74 earnings per share. Analysts predict that ScanSource, Inc. will post 3.51 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

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

Institutional Trading of ScanSource

Institutional investors have recently made changes to their positions in the company. O Shaughnessy Asset Management LLC acquired a new stake in shares of ScanSource in the first quarter worth approximately $1,651,000. Royce & Associates LP boosted its stake in shares of ScanSource by 177.3% in the third quarter. Royce & Associates LP now owns 21,432 shares of the industrial products company’s stock worth $1,029,000 after acquiring an additional 13,703 shares during the last quarter. Janney Montgomery Scott LLC acquired a new stake in shares of ScanSource in the third quarter worth approximately $1,674,000. Cornercap Investment Counsel Inc. acquired a new stake in shares of ScanSource in the second quarter worth approximately $524,000. Finally, 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 worth $102,776,000 after acquiring an additional 815,240 shares during the last quarter. 97.91% of the stock is owned by institutional investors and hedge funds.

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.