Vanguard Group Inc. Decreases Stake in ScanSource, Inc. $SCSC

Vanguard Group Inc. decreased its holdings in ScanSource, Inc. (NASDAQ:SCSC) by 1.1% in the 3rd quarter, Holdings Channel.com reports. The firm owned 2,748,014 shares of the industrial products company’s stock after selling 31,419 shares during the period. Vanguard Group Inc. owned approximately 0.12% of ScanSource worth $120,885,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors also recently modified their holdings of SCSC. American Century Companies Inc. boosted its holdings 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 worth $35,732,000 after buying an additional 36,161 shares during the period. Wasatch Advisors LP boosted its stake in ScanSource by 0.6% in the 2nd quarter. Wasatch Advisors LP now owns 844,949 shares of the industrial products company’s stock worth $35,327,000 after purchasing an additional 4,798 shares during the period. LSV Asset Management increased its position in shares of ScanSource by 11.9% during the third quarter. LSV Asset Management now owns 602,960 shares of the industrial products company’s stock valued at $26,524,000 after buying an additional 64,300 shares during the period. JPMorgan Chase & Co. lifted its holdings in shares of ScanSource by 15.9% in the third quarter. JPMorgan Chase & Co. now owns 430,267 shares of the industrial products company’s stock worth $18,927,000 after buying an additional 58,947 shares in the last quarter. Finally, Millennium Management LLC boosted its position in shares of ScanSource by 8.4% in the first quarter. Millennium Management LLC now owns 259,808 shares of the industrial products company’s stock valued at $8,836,000 after acquiring an additional 20,086 shares during the period. Institutional investors own 97.91% of the company’s stock.

ScanSource Trading Up 2.8%

Shares of SCSC opened at $38.09 on Thursday. ScanSource, Inc. has a fifty-two week low of $28.75 and a fifty-two week high of $46.25. The firm has a market cap of $818.17 million, a price-to-earnings ratio of 11.68, a PEG ratio of 0.63 and a beta of 1.29. The firm has a 50 day moving average price of $39.23 and a 200-day moving average price of $41.22. The company has a debt-to-equity ratio of 0.11, a quick ratio of 1.22 and a current ratio of 1.96.

ScanSource (NASDAQ:SCSC) last released its earnings results on Thursday, February 5th. The industrial products company reported $0.80 EPS for the quarter, missing the consensus estimate of $1.00 by ($0.20). ScanSource had a net margin of 2.44% and a return on equity of 9.35%. The business had revenue of $766.51 million for the quarter, compared to the consensus estimate of $782.46 million. During the same period in the prior year, the business posted $0.85 EPS. ScanSource’s revenue for the quarter was up 2.5% on a year-over-year basis. As a group, equities research analysts forecast that ScanSource, Inc. will post 3.33 earnings per share for the current year.

Analyst Upgrades and Downgrades

A number of research firms recently weighed in on SCSC. Zacks Research lowered shares of ScanSource from a “hold” rating to a “strong sell” rating in a report on Monday, February 9th. Weiss Ratings reaffirmed a “hold (c)” rating on shares of ScanSource in a report on Monday, December 29th. Finally, Wall Street Zen lowered ScanSource from a “buy” rating to a “hold” rating in a research note on Saturday, January 17th. One analyst has rated the stock with a Buy rating, two have given a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price of $42.50.

Insiders Place Their Bets

In related news, Director Charles Alexander Mathis acquired 6,000 shares of the stock in a transaction on Wednesday, February 11th. The stock was purchased at an average price of $35.20 per share, for a total transaction of $211,200.00. Following the completion of the transaction, the director owned 24,793 shares of the company’s stock, valued at $872,713.60. This trade represents a 31.93% increase in their position. The acquisition was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CFO Stephen Jones sold 5,020 shares of ScanSource stock in a transaction on Thursday, December 11th. The stock was sold at an average price of $42.30, for a total transaction of $212,346.00. Following the completion of the transaction, the chief financial officer directly owned 83,326 shares in the company, valued at approximately $3,524,689.80. The trade was a 5.68% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold 25,020 shares of company stock valued at $1,035,669 in the last ninety days. Company insiders own 3.18% of the company’s stock.

About ScanSource

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.