New insider activity at ScanSource ( (SCSC) ) has taken place on February 11, 2025.
CEO and Chairman of the Board, Michael Baur, has recently executed a substantial transaction by selling 35,000 shares of ScanSource stock. This significant sale brought in a total value of $1,348,683.
Recent Updates on SCSC stock
ScanSource’s recent Q2 earnings report showcased a mixed financial landscape, with a notable focus on expanding recurring revenue opportunities amid a challenging demand environment. Despite a 15.5% decrease in net sales year-over-year, the company managed to increase its gross profit margin to 13.6%, driven by a significant 31.2% rise in recurring revenue due to recent acquisitions. The Intelisys & Advisory segment performed well, with a 4% increase in net sales, reflecting the benefits of recent acquisitions, while the Specialty Technology Solutions segment saw a 16% decline due to reduced large deals and soft demand. ScanSource maintained a strong cash position and reaffirmed its financial guidance for fiscal year 2025, aiming to leverage its acquisitions and recurring revenue streams to navigate the current economic environment.
More about ScanSource
YTD Price Performance: -19.16%
Average Trading Volume: 224,369
Technical Sentiment Consensus Rating: Hold
Current Market Cap: $892.1M