Louisiana State Employees Retirement System trimmed its position in shares of ScanSource, Inc. (NASDAQ:SCSC) by 7.3% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 8,620 shares of the industrial products company’s stock after selling 680 shares during the period. Louisiana State Employees Retirement System’s holdings in ScanSource were worth $319,000 at the end of the most recent reporting period.
Other institutional investors have also recently added to or reduced their stakes in the company. Tower Research Capital LLC TRC lifted its holdings in ScanSource by 1,067.3% in the 2nd quarter. Tower Research Capital LLC TRC now owns 1,214 shares of the industrial products company’s stock worth $40,000 after buying an additional 1,110 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank grew its stake in shares of ScanSource by 51.9% during the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 1,923 shares of the industrial products company’s stock valued at $59,000 after acquiring an additional 657 shares in the last quarter. Meeder Asset Management Inc. acquired a new stake in shares of ScanSource during the third quarter valued at about $62,000. Millennium Management LLC purchased a new stake in shares of ScanSource during the third quarter worth about $238,000. Finally, Virginia Retirement Systems ET AL purchased a new stake in shares of ScanSource during the third quarter worth about $241,000. 93.22% of the stock is currently owned by hedge funds and other institutional investors.
In related news, CFO Gerald Lyons sold 1,000 shares of the business’s stock in a transaction dated Friday, November 15th. The stock was sold at an average price of $35.05, for a total value of $35,050.00. Following the completion of the sale, the chief financial officer now directly owns 16,868 shares of the company’s stock, valued at $591,223.40. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Corporate insiders own 3.87% of the company’s stock.
Several research analysts recently commented on the company. Zacks Investment Research cut ScanSource from a “buy” rating to a “hold” rating in a research note on Tuesday, November 19th. TheStreet upgraded ScanSource from a “c+” rating to a “b-” rating in a research note on Thursday, November 21st. BidaskClub downgraded ScanSource from a “buy” rating to a “hold” rating in a report on Friday, January 3rd. Finally, ValuEngine raised ScanSource from a “sell” rating to a “hold” rating in a research report on Thursday, October 24th. Four research analysts have rated the stock with a hold rating and one has given a buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and an average price target of $37.00.
SCSC opened at $34.82 on Tuesday. The stock has a market capitalization of $895.72 million, a PE ratio of 16.35 and a beta of 0.99. The firm’s fifty day moving average price is $36.72 and its 200 day moving average price is $33.06. The company has a debt-to-equity ratio of 0.40, a current ratio of 1.92 and a quick ratio of 1.04. ScanSource, Inc. has a 12-month low of $26.84 and a 12-month high of $40.55.
ScanSource (NASDAQ:SCSC) last announced its quarterly earnings data on Tuesday, November 12th. The industrial products company reported $0.72 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.73 by ($0.01). The company had revenue of $1.01 billion for the quarter, compared to analyst estimates of $957.93 million. ScanSource had a return on equity of 9.03% and a net margin of 1.40%. ScanSource’s revenue was up 3.5% on a year-over-year basis. During the same period in the prior year, the business earned $0.89 earnings per share. On average, equities research analysts forecast that ScanSource, Inc. will post 3.05 earnings per share for the current fiscal year.
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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