Key Points
- Michael Baur, ScanSource CEO, sold 982 shares on December 12 at an average price of $42.09 for proceeds of $41,332, leaving him with 201,530 shares (a 0.48% decrease) valued at about $8.48 million.
- ScanSource reported quarterly EPS of $1.06 (beat $0.91 estimate) but revenue of $739.65M missed the $787.37M estimate and was down 4.6% year‑over‑year; the company has a market cap of ~$915.8M and a P/E of 13.0.
- Analysts' consensus is an average rating of Hold with a $42.50 price target, and institutional investors own roughly 97.91% of the company's shares.
ScanSource, Inc. (NASDAQ:SCSC - Get Free Report) CEO Michael Baur sold 982 shares of the stock in a transaction that occurred on Friday, December 12th. The shares were sold at an average price of $42.09, for a total value of $41,332.38. Following the transaction, the chief executive officer directly owned 201,530 shares of the company's stock, valued at $8,482,397.70. This trade represents a 0.48% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link.
ScanSource Stock Up 2.7%
NASDAQ:SCSC opened at $41.74 on Wednesday. ScanSource, Inc. has a twelve month low of $28.75 and a twelve month high of $53.15. The firm has a market capitalization of $915.78 million, a price-to-earnings ratio of 13.00, a price-to-earnings-growth ratio of 0.66 and a beta of 1.29. The company has a quick ratio of 1.32, a current ratio of 2.16 and a debt-to-equity ratio of 0.14. The stock's 50 day moving average price is $41.35 and its two-hundred day moving average price is $41.98.
ScanSource (NASDAQ:SCSC - Get Free Report) last released its quarterly earnings data on Thursday, November 6th. The industrial products company reported $1.06 EPS for the quarter, beating the consensus estimate of $0.91 by $0.15. The company had revenue of $739.65 million during the quarter, compared to the consensus estimate of $787.37 million. ScanSource had a return on equity of 9.72% and a net margin of 2.48%.The firm's revenue for the quarter was down 4.6% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.84 EPS. Equities research analysts expect that ScanSource, Inc. will post 3.33 earnings per share for the current fiscal year.
Wall Street Analysts Forecast Growth
Several research firms have recently weighed in on SCSC. Weiss Ratings restated a "hold (c)" rating on shares of ScanSource in a research note on Monday. Zacks Research cut ScanSource from a "strong-buy" rating to a "hold" rating in a report on Tuesday, October 21st. Wall Street Zen raised ScanSource from a "hold" rating to a "buy" rating in a research report on Saturday, November 22nd. Finally, Barclays began coverage on ScanSource in a research note on Tuesday, October 7th. They issued an "equal weight" rating and a $43.00 price objective on the stock. One research analyst has rated the stock with a Buy rating and three have issued a Hold rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of "Hold" and an average price target of $42.50.
Read Our Latest Stock Analysis on SCSC
Institutional Trading of ScanSource
Hedge funds and other institutional investors have recently modified their holdings of the stock. Wasatch Advisors LP grew its stake in ScanSource by 34.9% in the 3rd quarter. Wasatch Advisors LP now owns 1,139,573 shares of the industrial products company's stock valued at $50,130,000 after buying an additional 294,624 shares during the last quarter. Pzena Investment Management LLC lifted its position in ScanSource by 3.6% during the second quarter. Pzena Investment Management LLC now owns 975,578 shares of the industrial products company's stock worth $40,789,000 after acquiring an additional 33,510 shares during the last quarter. American Century Companies Inc. boosted its holdings in shares of ScanSource by 4.4% during the second quarter. American Century Companies Inc. now owns 854,624 shares of the industrial products company's stock worth $35,732,000 after acquiring an additional 36,161 shares during the period. Jones Financial Companies Lllp acquired a new position in shares of ScanSource in the first quarter valued at approximately $22,848,000. Finally, LSV Asset Management increased its stake 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 worth $26,524,000 after purchasing an additional 64,300 shares during the period. Institutional investors own 97.91% of the company's stock.
About ScanSource
(
Get Free Report)
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.
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