ScanSource, Inc. (NASDAQ:SCSC) CEO Michael L. Baur sold 50,000 shares of ScanSource stock in a transaction on Friday, March 17th. The shares were sold at an average price of $40.21, for a total value of $2,010,500.00. Following the sale, the chief executive officer now directly owns 51,572 shares of the company’s stock, valued at approximately $2,073,710.12. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink.
Shares of ScanSource, Inc. (NASDAQ:SCSC) opened at 39.90 on Tuesday. The firm has a market cap of $1.01 billion, a PE ratio of 15.92 and a beta of 1.18. ScanSource, Inc. has a 52-week low of $29.05 and a 52-week high of $44.95. The company’s 50-day moving average price is $41.27 and its 200-day moving average price is $38.38.
ScanSource (NASDAQ:SCSC) last posted its quarterly earnings results on Tuesday, February 7th. The company reported $0.75 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.72 by $0.03. The company had revenue of $904.80 million for the quarter, compared to the consensus estimate of $962.57 million. ScanSource had a return on equity of 8.56% and a net margin of 1.85%. The firm’s quarterly revenue was down 8.9% on a year-over-year basis. During the same quarter in the prior year, the business posted $0.88 EPS. Equities analysts expect that ScanSource, Inc. will post $2.84 earnings per share for the current fiscal year.
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Several hedge funds and other institutional investors have recently bought and sold shares of the stock. FMR LLC increased its position in ScanSource by 6.7% in the fourth quarter. FMR LLC now owns 3,304,000 shares of the company’s stock valued at $133,316,000 after buying an additional 206,983 shares during the period. BlackRock Fund Advisors increased its position in ScanSource by 7.9% in the third quarter. BlackRock Fund Advisors now owns 1,788,753 shares of the company’s stock valued at $65,289,000 after buying an additional 130,895 shares during the period. Pzena Investment Management LLC increased its position in ScanSource by 16.3% in the third quarter. Pzena Investment Management LLC now owns 1,076,702 shares of the company’s stock valued at $39,300,000 after buying an additional 151,161 shares during the period. State Street Corp increased its position in ScanSource by 7.4% in the fourth quarter. State Street Corp now owns 609,459 shares of the company’s stock valued at $24,594,000 after buying an additional 41,959 shares during the period. Finally, Atlanta Capital Management Co. L L C increased its position in ScanSource by 1.3% in the fourth quarter. Atlanta Capital Management Co. L L C now owns 551,946 shares of the company’s stock valued at $22,271,000 after buying an additional 7,249 shares during the period. 98.93% of the stock is currently owned by institutional investors.
A number of research firms recently issued reports on SCSC. FinTrust Advisors cut ScanSource from a “buy” rating to a “hold” rating and lifted their price objective for the company from $42.20 to $48.50 in a research report on Monday, February 20th. Zacks Investment Research cut ScanSource from a “hold” rating to a “sell” rating in a research report on Tuesday, January 10th. Finally, TheStreet raised ScanSource from a “hold” rating to a “buy” rating in a research report on Wednesday, December 21st.
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.
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