CHICAGO TRUST Co NA Takes Position in ScanSource, Inc. (NASDAQ:SCSC)
CHICAGO TRUST Co NA purchased a new stake in shares of ScanSource, Inc. (NASDAQ:SCSC) during the second quarter, according to its most recent filing with the SEC. The institutional investor purchased 5,408 shares of the industrial products company’s stock, valued at approximately $218,000.
A number of other large investors have also made changes to their positions in the stock. Russell Investments Group Ltd. purchased a new stake in ScanSource during the fourth quarter valued at $1,596,000. Comerica Bank raised its stake in ScanSource by 4.0% in the fourth quarter. Comerica Bank now owns 26,986 shares of the industrial products company’s stock valued at $1,096,000 after buying an additional 1,027 shares during the last quarter. State Street Corp raised its stake in ScanSource by 7.4% in the fourth quarter. State Street Corp now owns 609,459 shares of the industrial products company’s stock valued at $24,594,000 after buying an additional 41,959 shares during the last quarter. Envestnet Asset Management Inc. raised its stake in ScanSource by 33.7% in the fourth quarter. Envestnet Asset Management Inc. now owns 3,856 shares of the industrial products company’s stock valued at $156,000 after buying an additional 973 shares during the last quarter. Finally, Two Sigma Investments LP purchased a new stake in ScanSource during the fourth quarter valued at $2,101,000. 94.40% of the stock is currently owned by hedge funds and other institutional investors.
ScanSource, Inc. (NASDAQ SCSC) traded down 0.38% during midday trading on Friday, hitting $39.05. 64,914 shares of the stock traded hands. The firm’s 50 day moving average is $39.72 and its 200-day moving average is $39.80. ScanSource, Inc. has a 12-month low of $29.05 and a 12-month high of $44.95. The stock has a market capitalization of $988.51 million, a PE ratio of 15.85 and a beta of 1.16.
ScanSource (NASDAQ:SCSC) last issued its quarterly earnings results on Tuesday, May 9th. The industrial products company reported $0.65 EPS for the quarter, missing the Zacks’ consensus estimate of $0.66 by $0.01. ScanSource had a return on equity of 8.41% and a net margin of 1.79%. The company had revenue of $813.50 million during the quarter, compared to the consensus estimate of $833.10 million. During the same quarter in the previous year, the business posted $0.64 EPS. The firm’s revenue for the quarter was up 1.9% on a year-over-year basis. On average, analysts anticipate that ScanSource, Inc. will post $2.76 EPS for the current fiscal year.
SCSC has been the topic of several analyst reports. Zacks Investment Research lowered shares of ScanSource from a “buy” rating to a “sell” rating in a report on Saturday, May 13th. BidaskClub lowered shares of ScanSource from a “hold” rating to a “sell” rating in a report on Friday, July 28th. One investment analyst has rated the stock with a sell rating, two have given a hold rating and two have assigned a buy rating to the company. The company presently has an average rating of “Hold” and an average price target of $45.17.
In other ScanSource news, Director Steven R. Fischer sold 5,000 shares of ScanSource stock in a transaction dated Friday, June 9th. The stock was sold at an average price of $40.19, for a total value of $200,950.00. Following the transaction, the director now owns 20,867 shares in the company, valued at $838,644.73. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CEO Michael L. Baur sold 67,000 shares of ScanSource stock in a transaction dated Friday, June 2nd. The shares were sold at an average price of $39.07, for a total value of $2,617,690.00. Following the completion of the transaction, the chief executive officer now owns 47,890 shares in the company, valued at approximately $1,871,062.30. The disclosure for this sale can be found here. In the last quarter, insiders sold 77,000 shares of company stock worth $3,019,290. Company insiders own 3.03% of the company’s stock.
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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