First Trust Advisors LP reduced its stake in ScanSource, Inc. (NASDAQ:SCSC) by 15.5% during the second quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 50,091 shares of the industrial products company’s stock after selling 9,185 shares during the quarter. First Trust Advisors LP owned approximately 0.20% of ScanSource worth $2,019,000 at the end of the most recent quarter.
A number of other large investors have also bought and sold shares of SCSC. State of Alaska Department of Revenue grew its position in shares of ScanSource by 0.7% during the first quarter. State of Alaska Department of Revenue now owns 2,790 shares of the industrial products company’s stock valued at $109,000 after purchasing an additional 20 shares in the last quarter. SG Americas Securities LLC grew its position in shares of ScanSource by 0.3% during the first quarter. SG Americas Securities LLC now owns 4,259 shares of the industrial products company’s stock valued at $167,000 after purchasing an additional 14 shares in the last quarter. CHICAGO TRUST Co NA purchased a new position in shares of ScanSource during the second quarter valued at about $218,000. Mason Street Advisors LLC grew its position in ScanSource by 7.4% in the first quarter. Mason Street Advisors LLC now owns 5,905 shares of the industrial products company’s stock worth $232,000 after acquiring an additional 409 shares in the last quarter. Finally, Blair William & Co. IL grew its position in ScanSource by 3.8% in the first quarter. Blair William & Co. IL now owns 6,858 shares of the industrial products company’s stock worth $269,000 after acquiring an additional 250 shares in the last quarter. 93.98% of the stock is currently owned by institutional investors and hedge funds.
ScanSource, Inc. (NASDAQ:SCSC) opened at 40.75 on Tuesday. The firm has a market cap of $1.04 billion, a P/E ratio of 15.04 and a beta of 1.15. ScanSource, Inc. has a 12 month low of $29.05 and a 12 month high of $44.95. The firm has a 50 day moving average of $38.18 and a 200-day moving average of $39.00.
ScanSource (NASDAQ:SCSC) last issued its quarterly earnings data on Tuesday, August 29th. The industrial products company reported $0.68 earnings per share for the quarter, meeting the consensus estimate of $0.68. ScanSource had a net margin of 1.94% and a return on equity of 8.76%. The firm had revenue of $917.30 million for the quarter, compared to analyst estimates of $894.17 million. During the same quarter last year, the firm earned $0.51 earnings per share. The company’s revenue for the quarter was up 4.5% on a year-over-year basis. On average, equities research analysts forecast that ScanSource, Inc. will post $3.07 earnings per share for the current year.
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Several brokerages have issued reports on SCSC. BidaskClub downgraded shares of ScanSource from a “sell” rating to a “strong sell” rating in a research note on Tuesday, August 8th. ValuEngine raised shares of ScanSource from a “hold” rating to a “buy” rating in a research note on Friday, September 1st. Finally, Zacks Investment Research downgraded shares of ScanSource from a “buy” rating to a “hold” rating in a research note on Tuesday, September 5th. One equities research analyst has rated the stock with a sell rating, two have given a hold rating and two have issued a buy rating to the company. The stock presently has an average rating of “Hold” and a consensus price target of $45.75.
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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