3,842,195 Shares in ScanSource, Inc. $SCSC Bought by BlackRock Inc.

BlackRock Inc. purchased a new stake in ScanSource, Inc. (NASDAQ:SCSC) in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm purchased 3,842,195 shares of the industrial products company’s stock, valued at approximately $200,140,000. BlackRock Inc. owned 0.19% of ScanSource at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also bought and sold shares of the business. Canada Pension Plan Investment Board bought a new stake in shares of ScanSource during the second quarter worth about $25,000. Royal Bank of Canada lifted its position in ScanSource by 165.0% in the 4th quarter. Royal Bank of Canada now owns 1,876 shares of the industrial products company’s stock valued at $73,000 after acquiring an additional 1,168 shares in the last quarter. Osaic Holdings Inc. boosted its stake in ScanSource by 400.5% during the 2nd quarter. Osaic Holdings Inc. now owns 2,087 shares of the industrial products company’s stock valued at $87,000 after purchasing an additional 1,670 shares during the last quarter. Mitsubishi UFJ Asset Management Co. Ltd. bought a new stake in ScanSource during the 2nd quarter worth approximately $134,000. Finally, Tower Research Capital LLC TRC increased its holdings in ScanSource by 672.0% during the 2nd quarter. Tower Research Capital LLC TRC now owns 4,632 shares of the industrial products company’s stock worth $194,000 after purchasing an additional 4,032 shares in the last quarter. Institutional investors own 97.91% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts have recently weighed in on SCSC shares. Zacks Research upgraded ScanSource from a “hold” rating to a “strong-buy” rating in a report on Monday. Northcoast Research downgraded ScanSource from a “buy” rating to a “neutral” rating in a report on Monday, August 17th. Wall Street Zen raised ScanSource from a “hold” rating to a “buy” rating in a research report on Saturday, August 8th. Finally, Weiss Ratings upgraded ScanSource from a “hold (c)” rating to a “hold (c+)” rating in a research note on Friday, May 29th. One investment analyst has rated the stock with a Strong Buy rating and three have assigned a Hold rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $43.00.

ScanSource Trading Up 3.4%

Shares of ScanSource stock opened at $58.10 on Friday. ScanSource, Inc. has a 1 year low of $33.76 and a 1 year high of $66.78. The firm has a market cap of $1.17 billion, a PE ratio of 15.87, a P/E/G ratio of 0.82 and a beta of 1.28. The stock has a fifty day moving average price of $53.69 and a 200-day moving average price of $44.99. The company has a debt-to-equity ratio of 0.11, a current ratio of 1.76 and a quick ratio of 1.15.

ScanSource (NASDAQ:SCSC) last issued its quarterly earnings results on Thursday, August 20th. The industrial products company reported $1.46 earnings per share for the quarter, topping analysts’ consensus estimates of $1.14 by $0.32. The company had revenue of $953.11 million for the quarter, compared to the consensus estimate of $814.35 million. ScanSource had a net margin of 2.44% and a return on equity of 10.10%. The firm’s quarterly revenue was up 17.3% on a year-over-year basis. During the same period in the previous year, the firm earned $1.02 EPS. Equities research analysts anticipate that ScanSource, Inc. will post 4.56 EPS for the current year.

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.