CCM Investment Advisers LLC purchased a new position in ScanSource, Inc. (NASDAQ:SCSC) during the 3rd quarter, Holdings Channel reports. The firm purchased 77,986 shares of the industrial products company’s stock, valued at approximately $3,111,000.
Other institutional investors have also bought and sold shares of the company. Rehmann Capital Advisory Group acquired a new position in ScanSource in the second quarter worth approximately $161,000. ClariVest Asset Management LLC acquired a new position in ScanSource in the second quarter worth approximately $201,000. Palouse Capital Management Inc. acquired a new position in ScanSource in the second quarter worth approximately $205,000. First Citizens Bank & Trust Co. acquired a new position in ScanSource in the third quarter worth approximately $209,000. Finally, Commonwealth of Pennsylvania Public School Empls Retrmt SYS purchased a new position in ScanSource during the 2nd quarter worth approximately $218,000. Hedge funds and other institutional investors own 94.84% of the company’s stock.
Several equities analysts have weighed in on the stock. Zacks Investment Research upgraded shares of ScanSource from a “sell” rating to a “hold” rating in a research report on Wednesday, July 11th. Raymond James lifted their price objective on shares of ScanSource from $44.00 to $47.00 and gave the stock a “buy” rating in a research report on Wednesday, August 29th. BidaskClub upgraded shares of ScanSource from a “hold” rating to a “buy” rating in a research report on Thursday, September 6th. Finally, ValuEngine upgraded shares of ScanSource from a “sell” rating to a “hold” rating in a research report on Tuesday, October 23rd. Two equities research analysts have rated the stock with a hold rating and three have given a buy rating to the stock. The company has a consensus rating of “Buy” and a consensus price target of $46.00.
In other ScanSource news, CFO Gerald Lyons sold 600 shares of ScanSource stock in a transaction on Tuesday, August 21st. The shares were sold at an average price of $44.00, for a total transaction of $26,400.00. Following the completion of the sale, the chief financial officer now owns 12,937 shares of the company’s stock, valued at approximately $569,228. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CEO Michael L. Baur sold 13,747 shares of ScanSource stock in a transaction on Wednesday, August 22nd. The shares were sold at an average price of $44.00, for a total transaction of $604,868.00. Following the sale, the chief executive officer now directly owns 49,446 shares of the company’s stock, valued at approximately $2,175,624. The disclosure for this sale can be found here. Insiders own 2.56% of the company’s stock.
NASDAQ SCSC opened at $41.63 on Wednesday. ScanSource, Inc. has a twelve month low of $31.40 and a twelve month high of $44.27. The company has a debt-to-equity ratio of 0.29, a quick ratio of 1.08 and a current ratio of 1.92. The company has a market cap of $1.05 billion, a price-to-earnings ratio of 13.39 and a beta of 0.72.
ScanSource (NASDAQ:SCSC) last posted its quarterly earnings data on Tuesday, November 6th. The industrial products company reported $0.89 earnings per share for the quarter, topping the consensus estimate of $0.87 by $0.02. ScanSource had a net margin of 0.86% and a return on equity of 9.23%. The firm had revenue of $972.90 million for the quarter, compared to analysts’ expectations of $976.97 million. During the same period in the previous year, the company posted $0.76 EPS. The company’s quarterly revenue was up 5.2% compared to the same quarter last year. As a group, equities analysts expect that ScanSource, Inc. will post 3.56 earnings per share for the current year.
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ScanSource Company Profile
ScanSource, Inc distributes technology products and solutions in North America, Latin America, and Europe. It operates in two segments, Worldwide Barcode, Networking & Security (WW Barcode, Networking & Security); and Worldwide Communications & Services (WW Communications & Services).
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