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.
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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.