Dimensional Fund Advisors LP reduced its stake in ScanSource, Inc. (NASDAQ:SCSC) by 0.4% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 2,135,932 shares of the industrial products company’s stock after selling 9,249 shares during the period. Dimensional Fund Advisors LP owned about 8.38% of ScanSource worth $93,234,000 at the end of the most recent reporting period.
Other institutional investors and hedge funds have also bought and sold shares of the company. Schwab Charles Investment Management Inc. grew its stake in ScanSource by 5.3% in the third quarter. Schwab Charles Investment Management Inc. now owns 285,462 shares of the industrial products company’s stock worth $12,461,000 after purchasing an additional 14,381 shares during the period. Wells Fargo & Company MN boosted its holdings in ScanSource by 32.5% in the third quarter. Wells Fargo & Company MN now owns 39,688 shares of the industrial products company’s stock worth $1,733,000 after acquiring an additional 9,726 shares in the last quarter. Citadel Advisors LLC boosted its holdings in ScanSource by 51.4% in the third quarter. Citadel Advisors LLC now owns 55,659 shares of the industrial products company’s stock worth $2,430,000 after acquiring an additional 18,890 shares in the last quarter. SG Americas Securities LLC boosted its holdings in ScanSource by 26.5% in the third quarter. SG Americas Securities LLC now owns 6,030 shares of the industrial products company’s stock worth $263,000 after acquiring an additional 1,262 shares in the last quarter. Finally, Russell Investments Group Ltd. boosted its holdings in ScanSource by 17.6% in the third quarter. Russell Investments Group Ltd. now owns 66,732 shares of the industrial products company’s stock worth $2,912,000 after acquiring an additional 10,002 shares in the last quarter. 94.35% of the stock is currently owned by hedge funds and other institutional investors.
Shares of ScanSource, Inc. (SCSC) remained flat at $$35.65 during trading on Friday. 61,253 shares of the company were exchanged, compared to its average volume of 110,224. ScanSource, Inc. has a 52-week low of $33.55 and a 52-week high of $45.35. The company has a market capitalization of $909.06, a P/E ratio of 15.50, a price-to-earnings-growth ratio of 3.99 and a beta of 1.04. The company has a quick ratio of 1.08, a current ratio of 1.94 and a debt-to-equity ratio of 0.33.
ScanSource (NASDAQ:SCSC) last posted its quarterly earnings data on Monday, November 6th. The industrial products company reported $0.76 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.78 by ($0.02). The company had revenue of $924.56 million during the quarter, compared to the consensus estimate of $966.20 million. ScanSource had a net margin of 1.65% and a return on equity of 8.78%. ScanSource’s revenue for the quarter was down .9% on a year-over-year basis. During the same period in the previous year, the business earned $0.68 earnings per share. research analysts anticipate that ScanSource, Inc. will post 2.98 EPS for the current year.
SCSC has been the topic of a number of research analyst reports. Zacks Investment Research raised ScanSource from a “sell” rating to a “hold” rating in a report on Wednesday. BidaskClub cut ScanSource from a “sell” rating to a “strong sell” rating in a research report on Wednesday. ValuEngine cut ScanSource from a “buy” rating to a “hold” rating in a research report on Sunday, December 31st. TheStreet cut ScanSource from a “b” rating to a “c+” rating in a research report on Wednesday, November 8th. Finally, Northcoast Research cut ScanSource from a “buy” rating to a “neutral” rating in a research report on Monday, October 2nd. One investment analyst has rated the stock with a sell rating and four have assigned a hold rating to the stock. The company currently has a consensus rating of “Hold” and a consensus target price of $45.75.
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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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