Martingale Asset Management L P Has $2.79 Million Stock Position in ScanSource, Inc. (NASDAQ:SCSC)

Martingale Asset Management L P lifted its holdings in ScanSource, Inc. (NASDAQ:SCSC) by 0.6% during the 3rd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 58,169 shares of the industrial products company’s stock after acquiring an additional 340 shares during the period. Martingale Asset Management L P’s holdings in ScanSource were worth $2,794,000 as of its most recent filing with the SEC.

A number of other hedge funds have also bought and sold shares of SCSC. Vanguard Group Inc. grew its position in shares of ScanSource by 1.2% during the 1st quarter. Vanguard Group Inc. now owns 3,479,683 shares of the industrial products company’s stock worth $153,245,000 after purchasing an additional 40,264 shares in the last quarter. Pacer Advisors Inc. increased its stake in ScanSource by 18.3% during the 3rd quarter. Pacer Advisors Inc. now owns 2,744,702 shares of the industrial products company’s stock worth $131,828,000 after acquiring an additional 425,233 shares during the period. Dimensional Fund Advisors LP increased its stake in ScanSource by 2.0% during the 2nd quarter. Dimensional Fund Advisors LP now owns 1,983,625 shares of the industrial products company’s stock worth $87,894,000 after acquiring an additional 39,533 shares during the period. American Century Companies Inc. raised its holdings in ScanSource by 75.5% in the 2nd quarter. American Century Companies Inc. now owns 521,127 shares of the industrial products company’s stock valued at $23,091,000 after acquiring an additional 224,160 shares in the last quarter. Finally, Bank of New York Mellon Corp grew its holdings in shares of ScanSource by 1.5% during the 2nd quarter. Bank of New York Mellon Corp now owns 208,727 shares of the industrial products company’s stock worth $9,249,000 after purchasing an additional 3,167 shares in the last quarter. 97.91% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Separately, Raymond James downgraded ScanSource from an “outperform” rating to a “market perform” rating in a research note on Thursday, August 15th.

Insider Buying and Selling at ScanSource

In other ScanSource news, CEO Michael L. Baur sold 15,081 shares of the firm’s stock in a transaction that occurred on Monday, November 18th. The shares were sold at an average price of $49.57, for a total value of $747,565.17. Following the sale, the chief executive officer now owns 177,760 shares in the company, valued at $8,811,563.20. This trade represents a 7.82 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. Insiders have sold a total of 53,010 shares of company stock worth $2,611,843 over the last 90 days. Insiders own 4.20% of the company’s stock.

ScanSource Stock Performance

Shares of NASDAQ:SCSC opened at $50.41 on Friday. ScanSource, Inc. has a 1 year low of $31.01 and a 1 year high of $53.76. The stock has a market capitalization of $1.20 billion, a price-to-earnings ratio of 16.16, a price-to-earnings-growth ratio of 1.44 and a beta of 1.42. The company has a debt-to-equity ratio of 0.15, a current ratio of 2.03 and a quick ratio of 1.27. The company’s 50 day simple moving average is $48.08 and its 200 day simple moving average is $47.45.

ScanSource (NASDAQ:SCSC) last issued its quarterly earnings results on Thursday, November 7th. The industrial products company reported $0.84 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.77 by $0.07. ScanSource had a return on equity of 8.53% and a net margin of 2.49%. The company had revenue of $775.58 million for the quarter, compared to analyst estimates of $774.90 million. During the same quarter last year, the company posted $0.74 EPS. The company’s revenue for the quarter was down 11.5% compared to the same quarter last year. As a group, research analysts predict that ScanSource, Inc. will post 3.51 EPS for the current fiscal year.

About ScanSource

ScanSource, Inc engages in the distribution of technology products and solutions in the United States, Canada, and Brazil. It operates through two segments, Specialty Technology Solutions and Modern Communications & Cloud. The Specialty Technology Solutions segment provides a portfolio of solutions primarily for enterprise mobile computing, data capture, barcode printing, point of sale (POS), payments, networking, electronic physical security, cyber security, and other technologies.