Pacer Advisors Inc. Reduces Stock Position in ScanSource, Inc. $SCSC

Pacer Advisors Inc. cut its stake in ScanSource, Inc. (NASDAQ:SCSC) by 26.4% in the fourth quarter, HoldingsChannel.com reports. The fund owned 77,086 shares of the industrial products company’s stock after selling 27,659 shares during the period. Pacer Advisors Inc.’s holdings in ScanSource were worth $3,011,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds have also recently made changes to their positions in SCSC. Invesco Ltd. lifted its position in ScanSource by 56.5% during the fourth quarter. Invesco Ltd. now owns 439,442 shares of the industrial products company’s stock valued at $17,165,000 after purchasing an additional 158,722 shares during the period. Summit Global Investments grew its position in ScanSource by 3.3% in the 4th quarter. Summit Global Investments now owns 14,177 shares of the industrial products company’s stock worth $554,000 after purchasing an additional 451 shares during the period. State of Tennessee Department of Treasury grew its position in ScanSource by 83.0% in the 4th quarter. State of Tennessee Department of Treasury now owns 30,973 shares of the industrial products company’s stock worth $1,332,000 after purchasing an additional 14,049 shares during the period. Empowered Funds LLC raised its stake in ScanSource by 4.0% during the 4th quarter. Empowered Funds LLC now owns 116,706 shares of the industrial products company’s stock valued at $4,559,000 after buying an additional 4,503 shares during the last quarter. Finally, XTX Topco Ltd bought a new position in shares of ScanSource during the 4th quarter valued at $383,000. 97.91% of the stock is owned by hedge funds and other institutional investors.

ScanSource Stock Down 0.3%

SCSC opened at $49.19 on Wednesday. The company has a current ratio of 1.86, a quick ratio of 1.20 and a debt-to-equity ratio of 0.11. ScanSource, Inc. has a 1-year low of $33.76 and a 1-year high of $50.63. The company has a market capitalization of $1.00 billion, a PE ratio of 14.91, a PEG ratio of 0.84 and a beta of 1.30. The firm’s 50 day simple moving average is $44.25 and its two-hundred day simple moving average is $40.65.

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

Analyst Upgrades and Downgrades

A number of equities analysts have recently issued reports on the company. Wall Street Zen upgraded ScanSource from a “hold” rating to a “buy” rating in a research note on Saturday, June 6th. Zacks Research raised ScanSource from a “strong sell” rating to a “hold” rating in a report on Tuesday, April 7th. Finally, Weiss Ratings raised ScanSource from a “hold (c)” rating to a “hold (c+)” rating in a research report on Friday, May 29th. Three investment analysts have rated the stock with a Hold rating, Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of $43.00.

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.