AMG National Trust Bank raised its position in shares of ScanSource, Inc. (NASDAQ:SCSC) by 8.4% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 16,673 shares of the industrial products company’s stock after purchasing an additional 1,289 shares during the period. AMG National Trust Bank owned approximately 0.07% of ScanSource worth $672,000 at the end of the most recent reporting period.
A number of other institutional investors and hedge funds have also recently made changes to their positions in SCSC. Teachers Advisors LLC raised its position in ScanSource by 2.1% during the fourth quarter. Teachers Advisors LLC now owns 57,237 shares of the industrial products company’s stock valued at $2,310,000 after purchasing an additional 1,153 shares in the last quarter. Louisiana State Employees Retirement System raised its position in ScanSource by 2.0% during the first quarter. Louisiana State Employees Retirement System now owns 10,300 shares of the industrial products company’s stock valued at $404,000 after purchasing an additional 200 shares in the last quarter. State of Alaska Department of Revenue raised its position in ScanSource by 0.7% during the first quarter. State of Alaska Department of Revenue now owns 2,790 shares of the industrial products company’s stock valued at $109,000 after purchasing an additional 20 shares in the last quarter. Russell Investments Group Ltd. raised its position in ScanSource by 60.3% during the first quarter. Russell Investments Group Ltd. now owns 62,440 shares of the industrial products company’s stock valued at $2,451,000 after purchasing an additional 23,499 shares in the last quarter. Finally, Wells Fargo & Company MN raised its position in ScanSource by 21.3% during the first quarter. Wells Fargo & Company MN now owns 30,870 shares of the industrial products company’s stock valued at $1,212,000 after purchasing an additional 5,425 shares in the last quarter. Institutional investors and hedge funds own 93.98% of the company’s stock.
In other ScanSource news, Director John Patrick Reilly sold 4,023 shares of ScanSource stock in a transaction that occurred on Tuesday, September 19th. The shares were sold at an average price of $41.00, for a total transaction of $164,943.00. Following the completion of the sale, the director now directly owns 16,900 shares in the company, valued at approximately $692,900. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Over the last 90 days, insiders have sold 9,076 shares of company stock valued at $370,590. Company insiders own 3.03% of the company’s stock.
Several research analysts have recently issued reports on the stock. BidaskClub downgraded shares of ScanSource from a “hold” rating to a “sell” rating in a report on Friday, July 28th. Zacks Investment Research upgraded shares of ScanSource from a “sell” rating to a “hold” rating in a report on Wednesday, July 12th. Finally, ValuEngine upgraded shares of ScanSource from a “hold” rating to a “buy” rating in a report on Friday, September 1st. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating and two have assigned a buy rating to the company. ScanSource currently has a consensus rating of “Hold” and a consensus target price of $45.75.
ScanSource, Inc. (NASDAQ:SCSC) opened at 41.20 on Friday. ScanSource, Inc. has a 52-week low of $29.05 and a 52-week high of $44.95. The company has a market cap of $1.05 billion, a PE ratio of 15.20 and a beta of 1.15. The stock’s 50 day moving average is $38.21 and its 200-day moving average is $39.00.
ScanSource (NASDAQ:SCSC) last announced its quarterly earnings data on Tuesday, August 29th. The industrial products company reported $0.68 EPS for the quarter, meeting the consensus estimate of $0.68. ScanSource had a net margin of 1.94% and a return on equity of 8.76%. The business had revenue of $917.30 million during the quarter, compared to analysts’ expectations of $894.17 million. During the same period in the previous year, the business posted $0.51 EPS. The business’s quarterly revenue was up 4.5% compared to the same quarter last year. Equities research analysts predict that ScanSource, Inc. will post $3.07 EPS for the current fiscal year.
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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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