Russell Investments Group Ltd. decreased its holdings in shares of ScanSource, Inc. (NASDAQ:SCSC) by 9.1% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 56,730 shares of the industrial products company’s stock after selling 5,710 shares during the quarter. Russell Investments Group Ltd. owned about 0.22% of ScanSource worth $2,287,000 at the end of the most recent quarter.
Several other large investors have also modified their holdings of SCSC. State of Alaska Department of Revenue grew its position in shares of ScanSource by 0.7% during the 1st quarter. State of Alaska Department of Revenue now owns 2,790 shares of the industrial products company’s stock worth $109,000 after buying an additional 20 shares during the period. SG Americas Securities LLC grew its position in shares of ScanSource by 0.3% during the 1st quarter. SG Americas Securities LLC now owns 4,259 shares of the industrial products company’s stock worth $167,000 after buying an additional 14 shares during the period. CHICAGO TRUST Co NA acquired a new stake in shares of ScanSource during the 2nd quarter worth approximately $218,000. Mason Street Advisors LLC grew its position in shares of ScanSource by 7.4% during the 1st quarter. Mason Street Advisors LLC now owns 5,905 shares of the industrial products company’s stock worth $232,000 after buying an additional 409 shares during the period. Finally, Blair William & Co. IL grew its position in shares of ScanSource by 3.8% during the 1st quarter. Blair William & Co. IL now owns 6,858 shares of the industrial products company’s stock worth $269,000 after buying an additional 250 shares during the period. Institutional investors own 94.11% of the company’s stock.
Shares of ScanSource, Inc. (NASDAQ:SCSC) traded down 4.84% during midday trading on Friday, hitting $37.35. 89,198 shares of the stock traded hands. The company has a market capitalization of $949.85 million, a price-to-earnings ratio of 13.78 and a beta of 1.15. ScanSource, Inc. has a 52 week low of $29.05 and a 52 week high of $44.95. The firm’s 50-day moving average is $38.89 and its 200 day moving average is $39.34.
ScanSource (NASDAQ:SCSC) last released its quarterly earnings data on Tuesday, August 29th. The industrial products company reported $0.68 earnings per share (EPS) for the quarter, meeting the Thomson Reuters’ consensus estimate of $0.68. ScanSource had a return on equity of 8.76% and a net margin of 1.94%. The company had revenue of $917.30 million during the quarter, compared to the consensus estimate of $894.17 million. During the same quarter in the prior year, the firm posted $0.51 earnings per share. The firm’s revenue was up 4.5% compared to the same quarter last year. Equities analysts forecast that ScanSource, Inc. will post $3.06 earnings per share for the current year.
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SCSC has been the subject of several analyst reports. Zacks Investment Research upgraded shares of ScanSource from a “hold” rating to a “buy” rating and set a $43.00 price target for the company in a research report on Friday. ValuEngine upgraded shares of ScanSource from a “hold” rating to a “buy” rating in a research report on Friday. Finally, BidaskClub cut shares of ScanSource from a “hold” rating to a “sell” rating in a research report on Friday, July 28th. One research analyst has rated the stock with a sell rating, one has assigned a hold rating and three have issued a buy rating to the company. The stock currently has an average rating of “Hold” and an average target price of $45.75.
In other news, Director Steven R. Fischer sold 5,000 shares of the company’s stock in a transaction that occurred on Friday, June 9th. The stock was sold at an average price of $40.19, for a total value of $200,950.00. Following the completion of the transaction, the director now owns 20,867 shares of the company’s stock, valued at $838,644.73. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Corporate insiders own 3.03% of the company’s stock.
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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