ScanSource, Inc. (SCSC) CEO Sells $601,978.00 in Stock

ScanSource, Inc. (NASDAQ:SCSC) CEO Michael L. Baur sold 13,700 shares of the business’s stock in a transaction dated Wednesday, October 4th. The stock was sold at an average price of $43.94, for a total value of $601,978.00. Following the completion of the sale, the chief executive officer now directly owns 35,209 shares of the company’s stock, valued at approximately $1,547,083.46. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink.

Shares of ScanSource, Inc. (SCSC) opened at 44.30 on Monday. The firm has a 50 day moving average price of $39.90 and a 200-day moving average price of $39.28. The firm has a market cap of $1.13 billion, a PE ratio of 16.35 and a beta of 1.16. ScanSource, Inc. has a 12 month low of $29.05 and a 12 month high of $44.95.

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

ILLEGAL ACTIVITY WARNING: This news story was first reported by The Ledger Gazette and is owned by of The Ledger Gazette. If you are reading this news story on another website, it was stolen and reposted in violation of international trademark & copyright laws. The original version of this news story can be read at https://ledgergazette.com/2017/10/09/scansource-inc-scsc-ceo-sells-601978-00-in-stock.html.

Hedge funds and other institutional investors have recently made changes to their positions in the company. BlackRock Inc. grew its holdings in shares of ScanSource by 42,757.8% in the 1st quarter. BlackRock Inc. now owns 3,121,763 shares of the industrial products company’s stock valued at $122,529,000 after acquiring an additional 3,114,479 shares in the last quarter. Great West Life Assurance Co. Can grew its holdings in ScanSource by 4.0% during the second quarter. Great West Life Assurance Co. Can now owns 37,565 shares of the industrial products company’s stock worth $1,510,000 after purchasing an additional 1,430 shares during the period. BNP Paribas Arbitrage SA grew its holdings in ScanSource by 47.1% during the second quarter. BNP Paribas Arbitrage SA now owns 10,357 shares of the industrial products company’s stock worth $417,000 after purchasing an additional 3,317 shares during the period. Geode Capital Management LLC grew its holdings in ScanSource by 8.0% during the first quarter. Geode Capital Management LLC now owns 400,568 shares of the industrial products company’s stock worth $15,722,000 after purchasing an additional 29,524 shares during the period. Finally, Summit Global Investments bought a new position in ScanSource during the second quarter worth about $512,000. Institutional investors own 93.98% of the company’s stock.

A number of brokerages have weighed in on SCSC. BidaskClub cut ScanSource from a “sell” rating to a “strong sell” rating in a research report on Tuesday, August 8th. Northcoast Research cut ScanSource from a “buy” rating to a “neutral” rating in a research report on Monday, October 2nd. ValuEngine raised ScanSource from a “hold” rating to a “buy” rating in a research report on Friday, September 1st. Finally, Zacks Investment Research raised ScanSource from a “hold” rating to a “buy” rating and set a $43.00 price target for the company in a research report on Friday, September 1st. One equities research 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 presently has an average rating of “Hold” and a consensus target price of $45.75.

ScanSource Company Profile

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.

Shares of ScanSource, Inc. (SCSC) opened at 44.30 on Monday. The firm has a 50 day moving average price of $39.90 and a 200-day moving average price of $39.28. The firm has a market cap of $1.13 billion, a PE ratio of 16.35 and a beta of 1.16. ScanSource, Inc. has a 12 month low of $29.05 and a 12 month high of $44.95.

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

ILLEGAL ACTIVITY WARNING: This news story was first reported by The Ledger Gazette and is owned by of The Ledger Gazette. If you are reading this news story on another website, it was stolen and reposted in violation of international trademark & copyright laws. The original version of this news story can be read at https://ledgergazette.com/2017/10/09/scansource-inc-scsc-ceo-sells-601978-00-in-stock.html.

Hedge funds and other institutional investors have recently made changes to their positions in the company. BlackRock Inc. grew its holdings in shares of ScanSource by 42,757.8% in the 1st quarter. BlackRock Inc. now owns 3,121,763 shares of the industrial products company’s stock valued at $122,529,000 after acquiring an additional 3,114,479 shares in the last quarter. Great West Life Assurance Co. Can grew its holdings in ScanSource by 4.0% during the second quarter. Great West Life Assurance Co. Can now owns 37,565 shares of the industrial products company’s stock worth $1,510,000 after purchasing an additional 1,430 shares during the period. BNP Paribas Arbitrage SA grew its holdings in ScanSource by 47.1% during the second quarter. BNP Paribas Arbitrage SA now owns 10,357 shares of the industrial products company’s stock worth $417,000 after purchasing an additional 3,317 shares during the period. Geode Capital Management LLC grew its holdings in ScanSource by 8.0% during the first quarter. Geode Capital Management LLC now owns 400,568 shares of the industrial products company’s stock worth $15,722,000 after purchasing an additional 29,524 shares during the period. Finally, Summit Global Investments bought a new position in ScanSource during the second quarter worth about $512,000. Institutional investors own 93.98% of the company’s stock.

A number of brokerages have weighed in on SCSC. BidaskClub cut ScanSource from a “sell” rating to a “strong sell” rating in a research report on Tuesday, August 8th. Northcoast Research cut ScanSource from a “buy” rating to a “neutral” rating in a research report on Monday, October 2nd. ValuEngine raised ScanSource from a “hold” rating to a “buy” rating in a research report on Friday, September 1st. Finally, Zacks Investment Research raised ScanSource from a “hold” rating to a “buy” rating and set a $43.00 price target for the company in a research report on Friday, September 1st. One equities research 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 presently has an average rating of “Hold” and a consensus target price of $45.75.

ScanSource Company Profile

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)

Receive News & Ratings for ScanSource Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for ScanSource Inc. and related companies with MarketBeat.com's FREE daily email newsletter.