ScanSource, Inc. $SCSC Shares Sold by Pacer Advisors Inc.

Pacer Advisors Inc. cut its holdings in shares of ScanSource, Inc. (NASDAQ:SCSC) by 50.1% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 104,745 shares of the industrial products company’s stock after selling 105,085 shares during the period. Pacer Advisors Inc. owned about 0.48% of ScanSource worth $4,608,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Pzena Investment Management LLC boosted its holdings in ScanSource by 3.6% in the second quarter. Pzena Investment Management LLC now owns 975,578 shares of the industrial products company’s stock valued at $40,789,000 after purchasing an additional 33,510 shares during the period. American Century Companies Inc. raised its position in ScanSource by 4.4% in the 2nd quarter. American Century Companies Inc. now owns 854,624 shares of the industrial products company’s stock valued at $35,732,000 after purchasing an additional 36,161 shares in the last quarter. Wasatch Advisors LP boosted its stake in shares of ScanSource by 0.6% in the 2nd quarter. Wasatch Advisors LP now owns 844,949 shares of the industrial products company’s stock valued at $35,327,000 after buying an additional 4,798 shares during the period. Jones Financial Companies Lllp acquired a new position in shares of ScanSource during the first quarter worth about $22,848,000. Finally, LSV Asset Management grew its position in shares of ScanSource by 7.1% during the second quarter. LSV Asset Management now owns 538,660 shares of the industrial products company’s stock worth $22,521,000 after buying an additional 35,475 shares in the last quarter. Hedge funds and other institutional investors own 97.91% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts recently weighed in on the stock. Wall Street Zen raised shares of ScanSource from a “hold” rating to a “buy” rating in a report on Saturday, November 22nd. Weiss Ratings restated a “hold (c)” rating on shares of ScanSource in a report on Monday, December 22nd. Barclays began coverage on shares of ScanSource in a research report on Tuesday, October 7th. They set an “equal weight” rating and a $43.00 price objective for the company. Finally, Zacks Research lowered ScanSource from a “strong-buy” rating to a “hold” rating in a report on Tuesday, October 21st. One research analyst has rated the stock with a Buy rating and three have assigned a Hold rating to the stock. According to MarketBeat, the company currently has an average rating of “Hold” and an average target price of $42.50.

ScanSource Trading Up 0.3%

NASDAQ:SCSC opened at $39.84 on Tuesday. The company has a quick ratio of 1.32, a current ratio of 2.16 and a debt-to-equity ratio of 0.14. ScanSource, Inc. has a 52-week low of $28.75 and a 52-week high of $52.06. The stock’s 50 day moving average price is $41.08 and its 200 day moving average price is $41.91. The company has a market capitalization of $874.09 million, a PE ratio of 12.41, a P/E/G ratio of 0.64 and a beta of 1.29.

ScanSource (NASDAQ:SCSC) last posted its quarterly earnings data on Thursday, November 6th. The industrial products company reported $1.06 earnings per share for the quarter, beating the consensus estimate of $0.91 by $0.15. The business had revenue of $739.65 million during the quarter, compared to the consensus estimate of $787.37 million. ScanSource had a return on equity of 9.72% and a net margin of 2.48%.The company’s revenue was down 4.6% compared to the same quarter last year. During the same period in the prior year, the company earned $0.84 earnings per share. On average, research analysts anticipate that ScanSource, Inc. will post 3.33 EPS for the current year.

Insider Buying and Selling at ScanSource

In other ScanSource news, CEO Michael L. Baur sold 9,559 shares of ScanSource stock in a transaction on Monday, December 15th. The shares were sold at an average price of $40.82, for a total value of $390,198.38. Following the transaction, the chief executive officer directly owned 191,971 shares in the company, valued at approximately $7,836,256.22. The trade was a 4.74% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CFO Stephen Jones sold 5,020 shares of the company’s stock in a transaction dated 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 directly owned 83,326 shares of the company’s stock, valued at $3,524,689.80. The trade was a 5.68% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 25,020 shares of company stock worth $1,035,669 over the last three months. 3.18% of the stock is currently owned by insiders.

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.