IndexIQ Advisors LLC lifted its stake in shares of ScanSource, Inc. (NASDAQ:SCSC) by 82.9% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 22,083 shares of the industrial products company’s stock after acquiring an additional 10,010 shares during the period. IndexIQ Advisors LLC owned 0.09% of ScanSource worth $964,000 as of its most recent SEC filing.
Other hedge funds also recently made changes to their positions in the company. Victory Capital Management Inc. increased its position in ScanSource by 17.6% during the 2nd quarter. Victory Capital Management Inc. now owns 2,974 shares of the industrial products company’s stock worth $120,000 after purchasing an additional 446 shares in the last quarter. SG Americas Securities LLC increased its position in ScanSource by 12.0% during the 2nd quarter. SG Americas Securities LLC now owns 4,768 shares of the industrial products company’s stock worth $192,000 after purchasing an additional 509 shares in the last quarter. State of Alaska Department of Revenue grew its position in ScanSource by 79.1% in the second quarter. State of Alaska Department of Revenue now owns 4,996 shares of the industrial products company’s stock valued at $201,000 after acquiring an additional 2,206 shares in the last quarter. Piedmont Investment Advisors LLC acquired a new stake in ScanSource in the second quarter valued at approximately $221,000. Finally, Palouse Capital Management Inc. acquired a new stake in ScanSource in the third quarter valued at approximately $226,000. Institutional investors and hedge funds own 93.43% of the company’s stock.
In other ScanSource news, CEO Michael L. Baur sold 44,565 shares of the firm’s stock in a transaction on Friday, October 6th. The stock was sold at an average price of $44.16, for a total value of $1,967,990.40. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Director John Patrick Reilly sold 5,000 shares of the firm’s stock in a transaction on Monday, September 18th. The shares were sold at an average price of $40.70, for a total value of $203,500.00. Following the completion of the sale, the director now owns 16,900 shares in the company, valued at $687,830. The disclosure for this sale can be found here. Insiders have sold 90,397 shares of company stock worth $3,959,574 over the last 90 days. 2.35% of the stock is currently owned by company insiders.
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Several analysts have issued reports on SCSC shares. ValuEngine raised shares of ScanSource from a “hold” rating to a “buy” rating in a research report on Friday, September 1st. Zacks Investment Research downgraded shares of ScanSource from a “buy” rating to a “hold” rating in a research report on Thursday, November 2nd. BidaskClub downgraded shares of ScanSource from a “hold” rating to a “sell” rating in a research report on Friday, July 28th. TheStreet downgraded shares of ScanSource from a “b” rating to a “c+” rating in a research report on Wednesday. Finally, Northcoast Research downgraded shares of ScanSource from a “buy” rating to a “neutral” rating in a research report on Monday, October 2nd. Two analysts have rated the stock with a sell rating and three have given a hold rating to the stock. The stock presently has an average rating of “Hold” and an average target price of $45.75.
Shares of ScanSource, Inc. (NASDAQ:SCSC) opened at $37.25 on Friday. ScanSource, Inc. has a 1 year low of $34.10 and a 1 year high of $45.35. The company has a debt-to-equity ratio of 0.33, a quick ratio of 1.14 and a current ratio of 1.94. The firm has a market cap of $990.32, a P/E ratio of 13.68, a PEG ratio of 4.35 and a beta of 1.11.
ScanSource (NASDAQ:SCSC) last announced its quarterly earnings data on Monday, November 6th. The industrial products company reported $0.76 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.78 by ($0.02). ScanSource had a return on equity of 8.78% and a net margin of 1.65%. The firm had revenue of $924.56 million for the quarter, compared to the consensus estimate of $966.20 million. During the same quarter last year, the business earned $0.68 earnings per share. The business’s revenue for the quarter was down .9% compared to the same quarter last year. research analysts expect that ScanSource, Inc. will post 2.98 EPS for the current fiscal year.
ScanSource Company Profile
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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