ScanSource, Inc. $SCSC Shares Bought by Susquehanna International Group LLP

Susquehanna International Group LLP boosted its position in shares of ScanSource, Inc. (NASDAQ:SCSC) by 118.6% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 17,539 shares of the industrial products company’s stock after buying an additional 9,515 shares during the period. Susquehanna International Group LLP owned 0.09% of ScanSource worth $914,000 at the end of the most recent quarter.

Other institutional investors have also recently made changes to their positions in the company. Canada Pension Plan Investment Board acquired a new stake in shares of ScanSource during the second quarter valued at about $25,000. Royal Bank of Canada lifted its stake in ScanSource by 165.0% in the fourth quarter. Royal Bank of Canada now owns 1,876 shares of the industrial products company’s stock worth $73,000 after acquiring an additional 1,168 shares during the last quarter. Osaic Holdings Inc. grew its holdings in ScanSource by 400.5% during the 2nd quarter. Osaic Holdings Inc. now owns 2,087 shares of the industrial products company’s stock worth $87,000 after acquiring an additional 1,670 shares in the last quarter. Freestone Grove Partners LP purchased a new stake in shares of ScanSource in the 2nd quarter valued at approximately $119,000. Finally, Mitsubishi UFJ Asset Management Co. Ltd. purchased a new stake in shares of ScanSource in the 2nd quarter valued at approximately $134,000. 97.91% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

SCSC has been the topic of a number of analyst reports. Zacks Research upgraded ScanSource from a “hold” rating to a “strong-buy” rating in a research note on Monday, August 24th. Northcoast Research cut ScanSource from a “buy” rating to a “neutral” rating in a research report on Monday, August 17th. Wall Street Zen upgraded ScanSource from a “buy” rating to a “strong-buy” rating in a report on Saturday. Finally, Weiss Ratings reissued a “hold (c+)” rating on shares of ScanSource in a research report on Wednesday. One equities research analyst has rated the stock with a Strong Buy rating and three have assigned a Hold rating to the stock. According to data from MarketBeat, ScanSource currently has a consensus rating of “Moderate Buy” and an average price target of $43.00.

ScanSource Price Performance

Shares of SCSC opened at $56.55 on Monday. The company has a current ratio of 1.76, a quick ratio of 1.15 and a debt-to-equity ratio of 0.11. The stock’s 50 day moving average is $53.83 and its two-hundred day moving average is $45.12. The firm has a market capitalization of $1.14 billion, a PE ratio of 15.45, a P/E/G ratio of 0.83 and a beta of 1.28. ScanSource, Inc. has a twelve month low of $33.76 and a twelve month high of $66.78.

ScanSource (NASDAQ:SCSC) last announced its quarterly earnings results on Thursday, August 20th. The industrial products company reported $1.46 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.14 by $0.32. The business had revenue of $953.11 million during the quarter, compared to the consensus estimate of $814.35 million. ScanSource had a net margin of 2.44% and a return on equity of 10.10%. The business’s revenue was up 17.3% compared to the same quarter last year. During the same quarter last year, the firm posted $1.02 EPS. Research analysts anticipate that ScanSource, Inc. will post 4.56 earnings per share for the current year.

ScanSource Company Profile

ScanSource, Inc is a global provider of technology products and solutions designed to help businesses enhance operational efficiency and customer engagement. The company specializes in the distribution of point-of-sale (POS) systems, barcode and data capture devices, networking and communications equipment, and value-added software and cloud services. By combining hardware, software and professional services, ScanSource supports channel partners in delivering end-to-end solutions across multiple industries, including retail, hospitality, healthcare and logistics.

Founded in 1992 and headquartered in Greenville, South Carolina, ScanSource has built a broad international footprint, serving customers throughout North, Central and South America as well as Europe, the Middle East and Africa.