ScanSource (NASDAQ:SCSC) Cut to Market Perform at Raymond James

Raymond James cut shares of ScanSource (NASDAQ:SCSC) from an outperform rating to a market perform rating in a research note published on Thursday, Marketbeat Ratings reports.

ScanSource Price Performance

NASDAQ:SCSC opened at $48.61 on Thursday. The firm has a market cap of $1.20 billion, a price-to-earnings ratio of 15.43, a price-to-earnings-growth ratio of 1.42 and a beta of 1.44. ScanSource has a 12-month low of $26.99 and a 12-month high of $53.28. The company has a current ratio of 2.20, a quick ratio of 1.38 and a debt-to-equity ratio of 0.15. The company’s 50-day moving average is $46.07 and its two-hundred day moving average is $44.35.

Insiders Place Their Bets

In other news, CEO Michael L. Baur sold 7,798 shares of the firm’s stock in a transaction on Thursday, July 11th. The stock was sold at an average price of $43.81, for a total transaction of $341,630.38. Following the sale, the chief executive officer now owns 118,080 shares in the company, valued at $5,173,084.80. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In related news, CEO Michael L. Baur sold 34,203 shares of the company’s stock in a transaction that occurred on Monday, July 8th. The shares were sold at an average price of $42.49, for a total transaction of $1,453,285.47. Following the completion of the transaction, the chief executive officer now owns 118,080 shares of the company’s stock, valued at $5,017,219.20. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Michael L. Baur sold 7,798 shares of the stock in a transaction that occurred on Thursday, July 11th. The stock was sold at an average price of $43.81, for a total transaction of $341,630.38. Following the transaction, the chief executive officer now directly owns 118,080 shares in the company, valued at approximately $5,173,084.80. The disclosure for this sale can be found here. In the last three months, insiders sold 114,531 shares of company stock valued at $5,025,745. Company insiders own 4.56% of the company’s stock.

Institutional Inflows and Outflows

Several large investors have recently made changes to their positions in the company. CWM LLC raised its holdings in shares of ScanSource by 164.1% in the 2nd quarter. CWM LLC now owns 647 shares of the industrial products company’s stock worth $29,000 after purchasing an additional 402 shares during the period. nVerses Capital LLC acquired a new stake in ScanSource during the 2nd quarter worth approximately $40,000. Quest Partners LLC purchased a new position in ScanSource in the second quarter valued at approximately $41,000. GAMMA Investing LLC acquired a new position in ScanSource during the fourth quarter valued at approximately $46,000. Finally, Innealta Capital LLC purchased a new stake in ScanSource during the second quarter worth approximately $58,000. 97.91% of the stock is owned by hedge funds and other institutional investors.

About ScanSource

ScanSource, Inc distributes technology products and solutions in the United States, Canada, and internationally. 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.