ScanSource, Inc. $SCSC Stock Position Raised by SG Americas Securities LLC

SG Americas Securities LLC increased its holdings in shares of ScanSource, Inc. (NASDAQ:SCSC) by 74.4% during the 1st quarter, Holdings Channel.com reports. The fund owned 494,988 shares of the industrial products company’s stock after buying an additional 211,232 shares during the period. SG Americas Securities LLC’s holdings in ScanSource were worth $17,968,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its position in shares of ScanSource by 2.2% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 13,859 shares of the industrial products company’s stock worth $471,000 after purchasing an additional 295 shares during the period. Royce & Associates LP lifted its holdings in shares of ScanSource by 1.7% in the 4th quarter. Royce & Associates LP now owns 26,088 shares of the industrial products company’s stock worth $1,019,000 after purchasing an additional 433 shares during the last quarter. Summit Global Investments boosted its position in ScanSource by 3.3% during the 4th quarter. Summit Global Investments now owns 14,177 shares of the industrial products company’s stock valued at $554,000 after purchasing an additional 451 shares during the period. WINTON GROUP Ltd boosted its position in ScanSource by 2.0% during the 4th quarter. WINTON GROUP Ltd now owns 26,020 shares of the industrial products company’s stock valued at $1,016,000 after purchasing an additional 510 shares during the period. Finally, Lazard Asset Management LLC grew its stake in ScanSource by 1.3% during the 2nd quarter. Lazard Asset Management LLC now owns 43,016 shares of the industrial products company’s stock worth $1,797,000 after buying an additional 567 shares during the last quarter. 97.91% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several equities research analysts have weighed in on SCSC shares. Zacks Research raised ScanSource from a “strong sell” rating to a “hold” rating in a research report on Tuesday, April 7th. Weiss Ratings upgraded shares of ScanSource from a “hold (c)” rating to a “hold (c+)” rating in a research report on Friday, May 29th. Finally, Wall Street Zen raised shares of ScanSource from a “hold” rating to a “buy” rating in a report on Saturday, June 6th. Three research analysts have rated the stock with a Hold rating, According to MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target of $43.00.

ScanSource Stock Performance

Shares of NASDAQ SCSC opened at $50.53 on Friday. The company has a current ratio of 1.86, a quick ratio of 1.20 and a debt-to-equity ratio of 0.11. The stock has a 50 day simple moving average of $44.70 and a 200-day simple moving average of $40.78. The company has a market cap of $1.03 billion, a PE ratio of 15.31, a P/E/G ratio of 0.85 and a beta of 1.30. ScanSource, Inc. has a 12-month low of $33.76 and a 12-month high of $50.80.

ScanSource (NASDAQ:SCSC) last posted its earnings results on Thursday, May 7th. The industrial products company reported $0.94 EPS for the quarter, beating the consensus estimate of $0.91 by $0.03. ScanSource had a return on equity of 9.35% and a net margin of 2.38%.The firm had revenue of $758.59 million for the quarter, compared to analysts’ expectations of $738.55 million. During the same period last year, the firm earned $0.86 EPS. The firm’s revenue was up 8.8% compared to the same quarter last year. On average, equities research analysts forecast that ScanSource, Inc. will post 3.9 EPS for the current year.

ScanSource Company 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.