ScanSource (NASDAQ:SCSC) CEO Sells $137,351.03 in Stock
by Kim Johansen · The Markets DailyScanSource, Inc. (NASDAQ:SCSC – Get Free Report) CEO Michael Baur sold 3,827 shares of ScanSource stock in a transaction that occurred on Monday, March 16th. The stock was sold at an average price of $35.89, for a total value of $137,351.03. Following the transaction, the chief executive officer owned 157,512 shares in the company, valued at approximately $5,653,105.68. The trade was a 2.37% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink.
ScanSource Trading Up 0.3%
NASDAQ:SCSC traded up $0.11 during trading hours on Tuesday, hitting $35.56. The company had a trading volume of 153,189 shares, compared to its average volume of 216,886. ScanSource, Inc. has a 1 year low of $28.75 and a 1 year high of $46.25. The company has a market cap of $763.83 million, a P/E ratio of 10.91, a P/E/G ratio of 0.61 and a beta of 1.29. The company has a 50-day moving average of $38.71 and a 200 day moving average of $40.81. The company has a current ratio of 1.96, a quick ratio of 1.22 and a debt-to-equity ratio of 0.11.
ScanSource (NASDAQ:SCSC – Get Free Report) last posted its quarterly earnings results on Thursday, February 5th. The industrial products company reported $0.80 EPS for the quarter, missing the consensus estimate of $1.00 by ($0.20). The company had revenue of $766.51 million for the quarter, compared to analysts’ expectations of $782.46 million. ScanSource had a return on equity of 9.35% and a net margin of 2.44%.The firm’s revenue was up 2.5% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.85 EPS. Sell-side analysts expect that ScanSource, Inc. will post 3.33 earnings per share for the current year.
Institutional Trading of ScanSource
A number of hedge funds and other institutional investors have recently modified their holdings of the business. Y Intercept Hong Kong Ltd acquired a new position in ScanSource in the third quarter valued at about $611,000. JPMorgan Chase & Co. increased its position in shares of ScanSource by 15.9% during the third quarter. JPMorgan Chase & Co. now owns 430,267 shares of the industrial products company’s stock valued at $18,927,000 after acquiring an additional 58,947 shares during the last quarter. LSV Asset Management increased its position in shares of ScanSource by 11.9% during the third quarter. LSV Asset Management now owns 602,960 shares of the industrial products company’s stock valued at $26,524,000 after acquiring an additional 64,300 shares during the last quarter. New York State Common Retirement Fund raised its stake in shares of ScanSource by 326.9% in the 3rd quarter. New York State Common Retirement Fund now owns 36,696 shares of the industrial products company’s stock valued at $1,614,000 after acquiring an additional 28,100 shares during the period. Finally, Envestnet Asset Management Inc. lifted its holdings in shares of ScanSource by 90.4% in the 2nd quarter. Envestnet Asset Management Inc. now owns 14,151 shares of the industrial products company’s stock worth $592,000 after acquiring an additional 6,720 shares during the last quarter. 97.91% of the stock is owned by institutional investors and hedge funds.
Analysts Set New Price Targets
SCSC has been the topic of several recent analyst reports. Wall Street Zen lowered shares of ScanSource from a “buy” rating to a “hold” rating in a report on Saturday, January 17th. Weiss Ratings restated a “hold (c)” rating on shares of ScanSource in a report on Monday, December 29th. Finally, Zacks Research lowered shares of ScanSource from a “hold” rating to a “strong sell” rating in a research report on Monday, February 9th. One equities research analyst has rated the stock with a Buy rating, two have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat.com, ScanSource currently has an average rating of “Hold” and a consensus price target of $42.50.
Check Out Our Latest Stock Analysis on SCSC
ScanSource Company Profile
ScanSource, Inc is a global provider of technology products and solutions designed to help businesses enhance operational efficiency and customer engagement. The company specializes in the distribution of point-of-sale (POS) systems, barcode and data capture devices, networking and communications equipment, and value-added software and cloud services. By combining hardware, software and professional services, ScanSource supports channel partners in delivering end-to-end solutions across multiple industries, including retail, hospitality, healthcare and logistics.
Founded in 1992 and headquartered in Greenville, South Carolina, ScanSource has built a broad international footprint, serving customers throughout North, Central and South America as well as Europe, the Middle East and Africa.