Ameriprise Financial Inc. raised its position in ScanSource, Inc. (NASDAQ:SCSC) by 1.0% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 323,795 shares of the industrial products company’s stock after acquiring an additional 3,241 shares during the quarter. Ameriprise Financial Inc. owned approximately 1.28% of ScanSource worth $13,050,000 as of its most recent SEC filing.
A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the business. Victory Capital Management Inc. boosted its stake in shares of ScanSource by 17.6% in the 2nd quarter. Victory Capital Management Inc. now owns 2,974 shares of the industrial products company’s stock valued at $120,000 after buying an additional 446 shares during the period. SG Americas Securities LLC lifted its stake in ScanSource by 0.3% during the first quarter. SG Americas Securities LLC now owns 4,259 shares of the industrial products company’s stock worth $167,000 after purchasing an additional 14 shares during the last quarter. State of Alaska Department of Revenue lifted its stake in ScanSource by 79.1% during the second quarter. State of Alaska Department of Revenue now owns 4,996 shares of the industrial products company’s stock worth $201,000 after purchasing an additional 2,206 shares during the last quarter. CHICAGO TRUST Co NA purchased a new stake in ScanSource during the second quarter worth approximately $218,000. Finally, Mason Street Advisors LLC lifted its stake in ScanSource by 7.4% during the first quarter. Mason Street Advisors LLC now owns 5,905 shares of the industrial products company’s stock worth $232,000 after purchasing an additional 409 shares during the last quarter. 93.98% of the stock is owned by institutional investors.
Several equities research analysts recently weighed in on SCSC shares. Zacks Investment Research upgraded ScanSource from a “sell” rating to a “hold” rating in a research note on Wednesday, July 12th. BidaskClub lowered ScanSource from a “hold” rating to a “sell” rating in a research report on Friday, July 28th. ValuEngine raised ScanSource from a “hold” rating to a “buy” rating in a research report on Friday, September 1st. Finally, Northcoast Research lowered ScanSource from a “buy” rating to a “neutral” rating in a research report on Monday, October 2nd. One analyst has rated the stock with a sell rating, three have given a hold rating and two have given a buy rating to the company. ScanSource has an average rating of “Hold” and an average target price of $45.75.
In other news, Director John Patrick Reilly sold 5,000 shares of the firm’s stock in a transaction on Monday, September 18th. The stock was 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 of the company’s stock, valued at $687,830. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, 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 disclosure for this sale can be found here. In the last ninety days, insiders sold 90,397 shares of company stock valued at $3,959,574. 3.03% of the stock is currently owned by insiders.
Shares of ScanSource, Inc. (SCSC) opened at 44.75 on Tuesday. The firm’s 50-day moving average price is $41.04 and its 200 day moving average price is $39.47. The firm has a market capitalization of $1.14 billion, a price-to-earnings ratio of 16.51 and a beta of 1.16. ScanSource, Inc. has a 52 week low of $29.05 and a 52 week high of $45.35.
ScanSource (NASDAQ:SCSC) last issued its earnings results on Tuesday, August 29th. The industrial products company reported $0.68 earnings per share (EPS) for the quarter, hitting the Zacks’ consensus estimate of $0.68. The business had revenue of $917.30 million for the quarter, compared to analysts’ expectations of $894.17 million. ScanSource had a return on equity of 8.76% and a net margin of 1.94%. The company’s quarterly revenue was up 4.5% on a year-over-year basis. During the same period in the previous year, the firm posted $0.51 EPS. On average, analysts anticipate that ScanSource, Inc. will post $3.07 EPS for the current year.
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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