Vanguard Group Inc. Sells 31,419 Shares of ScanSource, Inc. $SCSC

Vanguard Group Inc. cut its stake in ScanSource, Inc. (NASDAQ:SCSC) by 1.1% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 2,748,014 shares of the industrial products company’s stock after selling 31,419 shares during the period. Vanguard Group Inc. owned 12.45% of ScanSource worth $120,885,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in SCSC. Canada Pension Plan Investment Board bought a new stake in shares of ScanSource in the 2nd quarter valued at $25,000. CWM LLC lifted its holdings in ScanSource by 159.6% in the third quarter. CWM LLC now owns 1,874 shares of the industrial products company’s stock valued at $82,000 after buying an additional 1,152 shares during the period. Osaic Holdings Inc. boosted its position in ScanSource by 400.5% during the second quarter. Osaic Holdings Inc. now owns 2,087 shares of the industrial products company’s stock valued at $87,000 after acquiring an additional 1,670 shares during the last quarter. Mitsubishi UFJ Asset Management Co. Ltd. grew its holdings in ScanSource by 22.3% during the 2nd quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 2,879 shares of the industrial products company’s stock worth $120,000 after acquiring an additional 524 shares during the period. Finally, Tower Research Capital LLC TRC raised its position in shares of ScanSource by 672.0% in the 2nd quarter. Tower Research Capital LLC TRC now owns 4,632 shares of the industrial products company’s stock worth $194,000 after acquiring an additional 4,032 shares in the last quarter. Institutional investors and hedge funds own 97.91% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts recently commented on the company. Zacks Research cut ScanSource from a “hold” rating to a “strong sell” rating in a research note on Monday, February 9th. Wall Street Zen downgraded shares of ScanSource from a “buy” rating to a “hold” rating in a research note on Saturday, January 17th. Finally, Weiss Ratings reiterated a “hold (c)” rating on shares of ScanSource in a report on Monday, December 29th. One research analyst has rated the stock with a Buy rating, two have issued a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, ScanSource presently has a consensus rating of “Hold” and an average price target of $42.50.

ScanSource Stock Up 2.8%

ScanSource stock opened at $38.09 on Thursday. ScanSource, Inc. has a fifty-two week low of $28.75 and a fifty-two week high of $46.25. The firm’s 50-day simple moving average is $39.23 and its 200 day simple moving average is $41.22. The stock has a market cap of $818.17 million, a PE ratio of 11.68, a price-to-earnings-growth ratio of 0.63 and a beta of 1.29. The company has a debt-to-equity ratio of 0.11, a quick ratio of 1.22 and a current ratio of 1.96.

ScanSource (NASDAQ:SCSC) last issued its quarterly earnings results on Thursday, February 5th. The industrial products company reported $0.80 EPS for the quarter, missing analysts’ consensus estimates of $1.00 by ($0.20). The business had revenue of $766.51 million for the quarter, compared to analysts’ expectations of $782.46 million. ScanSource had a net margin of 2.44% and a return on equity of 9.35%. The business’s revenue was up 2.5% compared to the same quarter last year. During the same period in the previous year, the business posted $0.85 earnings per share. Research analysts predict that ScanSource, Inc. will post 3.33 EPS for the current fiscal year.

Insider Buying and Selling

In other news, CFO Stephen Jones sold 5,020 shares of the firm’s stock in a transaction that occurred on Thursday, December 11th. The shares were sold at an average price of $42.30, for a total transaction of $212,346.00. Following the completion of the sale, the chief financial officer owned 83,326 shares in the company, valued at $3,524,689.80. This trade represents a 5.68% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Charles Alexander Mathis purchased 6,000 shares of the stock in a transaction that occurred on Wednesday, February 11th. The stock was bought at an average cost of $35.20 per share, for a total transaction of $211,200.00. Following the acquisition, the director directly owned 24,793 shares in the company, valued at $872,713.60. This trade represents a 31.93% increase in their position. Additional details regarding this purchase are available in the official SEC disclosure. Over the last 90 days, insiders sold 25,020 shares of company stock worth $1,035,669. Insiders own 3.18% of the company’s stock.

ScanSource Profile

ScanSource, Inc is a global provider of technology products and solutions designed to help businesses enhance operational efficiency and customer engagement. The company specializes in the distribution of point-of-sale (POS) systems, barcode and data capture devices, networking and communications equipment, and value-added software and cloud services. By combining hardware, software and professional services, ScanSource supports channel partners in delivering end-to-end solutions across multiple industries, including retail, hospitality, healthcare and logistics.

Founded in 1992 and headquartered in Greenville, South Carolina, ScanSource has built a broad international footprint, serving customers throughout North, Central and South America as well as Europe, the Middle East and Africa.