Nachman Norwood & Parrott Inc purchased a new stake in shares of ScanSource, Inc. (NASDAQ:SCSC) during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor purchased 2,000 shares of the industrial products company’s stock, valued at approximately $40,000.
Several other institutional investors and hedge funds have also recently modified their holdings of SCSC. Advisor Group Holdings Inc. acquired a new position in shares of ScanSource during the first quarter valued at $25,000. US Bancorp DE lifted its stake in shares of ScanSource by 250.5% during the second quarter. US Bancorp DE now owns 1,069 shares of the industrial products company’s stock valued at $26,000 after acquiring an additional 764 shares during the period. Bank of Montreal Can lifted its stake in shares of ScanSource by 296.9% during the second quarter. Bank of Montreal Can now owns 2,977 shares of the industrial products company’s stock valued at $66,000 after acquiring an additional 2,227 shares during the period. Pacer Advisors Inc. increased its holdings in ScanSource by 8.6% in the second quarter. Pacer Advisors Inc. now owns 9,713 shares of the industrial products company’s stock valued at $234,000 after purchasing an additional 772 shares during the last quarter. Finally, Commonwealth of Pennsylvania Public School Empls Retrmt SYS increased its holdings in ScanSource by 48.4% in the first quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 12,712 shares of the industrial products company’s stock valued at $272,000 after purchasing an additional 4,146 shares during the last quarter. 95.36% of the stock is currently owned by institutional investors and hedge funds.
In other news, Director Michael J. Grainger acquired 2,700 shares of the firm’s stock in a transaction that occurred on Wednesday, September 16th. The stock was acquired at an average cost of $18.52 per share, for a total transaction of $50,004.00. Following the completion of the acquisition, the director now owns 30,200 shares in the company, valued at $559,304. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Michael L. Baur sold 2,491 shares of the stock in a transaction dated Monday, October 12th. The stock was sold at an average price of $22.02, for a total value of $54,851.82. Following the transaction, the chief executive officer now owns 65,740 shares of the company’s stock, valued at $1,447,594.80. The disclosure for this sale can be found here. 3.87% of the stock is currently owned by company insiders.
Shares of ScanSource stock opened at $21.61 on Friday. ScanSource, Inc. has a 1 year low of $13.78 and a 1 year high of $39.01. The business has a 50-day moving average of $20.54 and a two-hundred day moving average of $22.95. The company has a market capitalization of $548.05 million, a P/E ratio of -2.84 and a beta of 1.32. The company has a debt-to-equity ratio of 0.31, a current ratio of 1.67 and a quick ratio of 1.04.
ScanSource (NASDAQ:SCSC) last posted its quarterly earnings data on Monday, August 31st. The industrial products company reported $0.19 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.21 by ($0.02). The firm had revenue of $636.50 million for the quarter, compared to the consensus estimate of $635.80 million. ScanSource had a positive return on equity of 6.11% and a negative net margin of 5.50%. The firm’s quarterly revenue was down 33.8% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.71 earnings per share. On average, equities analysts anticipate that ScanSource, Inc. will post 1.91 EPS for the current fiscal year.
A number of research firms recently commented on SCSC. BidaskClub upgraded ScanSource from a “hold” rating to a “buy” rating in a report on Thursday, October 8th. TheStreet downgraded ScanSource from a “c” rating to a “d+” rating in a report on Monday, August 31st. Zacks Investment Research downgraded ScanSource from a “hold” rating to a “sell” rating in a report on Saturday, July 25th. ValuEngine downgraded ScanSource from a “hold” rating to a “sell” rating in a report on Thursday, October 1st. Finally, Raymond James restated a “buy” rating and issued a $24.00 price target on shares of ScanSource in a report on Tuesday, September 1st. Two equities research analysts have rated the stock with a sell rating and two have assigned a buy rating to the company’s stock. ScanSource presently has a consensus rating of “Hold” and a consensus price target of $25.00.
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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