Fmr LLC cut its holdings in ScanSource, Inc. (NASDAQ:SCSC) by 1.2% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 3,059,473 shares of the industrial products company’s stock after selling 36,612 shares during the period. Fmr LLC owned 11.97% of ScanSource worth $123,297,000 as of its most recent SEC filing.
A number of other institutional investors and hedge funds have also added to or reduced their stakes in SCSC. SG Americas Securities LLC bought a new position in ScanSource in the first quarter worth approximately $127,000. Victory Capital Management Inc. raised its position in ScanSource by 31.8% in the first quarter. Victory Capital Management Inc. now owns 8,347 shares of the industrial products company’s stock worth $297,000 after acquiring an additional 2,012 shares during the period. Schwab Charles Investment Management Inc. raised its position in ScanSource by 9.0% in the first quarter. Schwab Charles Investment Management Inc. now owns 334,560 shares of the industrial products company’s stock worth $11,894,000 after acquiring an additional 27,703 shares during the period. Aperio Group LLC raised its position in ScanSource by 26.8% in the first quarter. Aperio Group LLC now owns 11,101 shares of the industrial products company’s stock worth $395,000 after acquiring an additional 2,347 shares during the period. Finally, KBC Group NV bought a new position in ScanSource in the first quarter worth approximately $184,000. Institutional investors and hedge funds own 93.96% of the company’s stock.
Shares of NASDAQ SCSC opened at $40.15 on Friday. The company has a debt-to-equity ratio of 0.29, a current ratio of 1.92 and a quick ratio of 1.08. The firm has a market capitalization of $1.02 billion, a PE ratio of 12.91 and a beta of 0.87. ScanSource, Inc. has a 1 year low of $31.40 and a 1 year high of $45.35.
ScanSource (NASDAQ:SCSC) last announced its quarterly earnings data on Tuesday, August 28th. The industrial products company reported $0.77 earnings per share (EPS) for the quarter, hitting the Zacks’ consensus estimate of $0.77. The firm had revenue of $993.90 million during the quarter, compared to analysts’ expectations of $974.20 million. ScanSource had a net margin of 0.86% and a return on equity of 9.23%. The company’s revenue for the quarter was up 8.4% compared to the same quarter last year. During the same period in the prior year, the company posted $0.68 earnings per share. research analysts predict that ScanSource, Inc. will post 3.56 earnings per share for the current fiscal year.
SCSC has been the topic of several recent research reports. Zacks Investment Research upgraded shares of ScanSource from a “hold” rating to a “buy” rating and set a $48.00 price target on the stock in a research report on Saturday, August 18th. BidaskClub downgraded shares of ScanSource from a “buy” rating to a “hold” rating in a research report on Tuesday, August 28th. Finally, Raymond James increased their price objective on shares of ScanSource from $44.00 to $47.00 and gave the stock a “buy” rating in a research note on Wednesday, August 29th. Three investment analysts have rated the stock with a hold rating and two have given a buy rating to the company. The company has an average rating of “Hold” and a consensus target price of $46.00.
In other news, CFO Gerald Lyons sold 600 shares of the stock in a transaction on Tuesday, August 21st. The shares were sold at an average price of $44.00, for a total value of $26,400.00. Following the completion of the sale, the chief financial officer now directly owns 12,937 shares of the company’s stock, valued at $569,228. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CEO Michael L. Baur sold 13,747 shares of the stock in a transaction on Wednesday, August 22nd. The stock was sold at an average price of $44.00, for a total transaction of $604,868.00. Following the completion of the sale, the chief executive officer now directly owns 49,446 shares of the company’s stock, valued at $2,175,624. The disclosure for this sale can be found here. Corporate insiders own 2.35% of the company’s stock.
ScanSource, Inc distributes technology products and solutions in North America, Latin America, and Europe. The company's Worldwide Barcode, Networking & Security segment focuses on automatic identification and data capture (AIDC), point-of-sale (POS), networking, electronic physical security, 3D printing, and other specialty technologies.
Recommended Story: NASDAQ
Want to see what other hedge funds are holding SCSC? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for ScanSource, Inc. (NASDAQ:SCSC).
Receive News & Ratings for ScanSource Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for ScanSource and related companies with MarketBeat.com's FREE daily email newsletter.