Crossmark Global Holdings Inc. acquired a new position in shares of ScanSource, Inc. (NASDAQ:SCSC) in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm acquired 12,206 shares of the industrial products company’s stock, valued at approximately $533,000.
Several other institutional investors and hedge funds have also modified their holdings of the company. Victory Capital Management Inc. boosted its holdings in shares of ScanSource by 17.6% in the 2nd quarter. Victory Capital Management Inc. now owns 2,974 shares of the industrial products company’s stock valued at $120,000 after purchasing an additional 446 shares during the last quarter. SG Americas Securities LLC boosted its holdings in shares of ScanSource by 12.0% in the 2nd quarter. SG Americas Securities LLC now owns 4,768 shares of the industrial products company’s stock valued at $192,000 after purchasing an additional 509 shares during the last quarter. State of Alaska Department of Revenue boosted its holdings in shares of ScanSource by 79.1% in the 2nd quarter. State of Alaska Department of Revenue now owns 4,996 shares of the industrial products company’s stock valued at $201,000 after purchasing an additional 2,206 shares during the last quarter. Piedmont Investment Advisors LLC acquired a new position in shares of ScanSource in the 2nd quarter valued at $221,000. Finally, Airain ltd acquired a new position in shares of ScanSource during the 2nd quarter valued at $235,000. 94.42% of the stock is owned by institutional investors and hedge funds.
In other ScanSource news, CEO Michael L. Baur sold 44,565 shares of the company’s stock in a transaction that occurred on Friday, October 6th. The shares were sold at an average price of $44.16, for a total value of $1,967,990.40. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, Director John Patrick Reilly sold 4,023 shares of the stock in a transaction on Tuesday, September 19th. The stock was sold at an average price of $41.00, for a total transaction of $164,943.00. Following the transaction, the director now owns 16,900 shares in the company, valued at approximately $692,900. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 90,397 shares of company stock valued at $3,959,574. Company insiders own 2.35% of the company’s stock.
SCSC has been the topic of several recent research reports. Zacks Investment Research lowered shares of ScanSource from a “buy” rating to a “hold” rating in a report on Tuesday, September 5th. TheStreet lowered shares of ScanSource from a “b” rating to a “c+” rating in a report on Wednesday, November 8th. ValuEngine upgraded shares of ScanSource from a “hold” rating to a “buy” rating in a report on Friday, September 1st. Northcoast Research downgraded shares of ScanSource from a “buy” rating to a “neutral” rating in a research report on Monday, October 2nd. Finally, BidaskClub downgraded shares of ScanSource from a “sell” rating to a “strong sell” rating in a research report on Tuesday, August 8th. One equities research analyst has rated the stock with a sell rating and four have issued a hold rating to the stock. The company currently has an average rating of “Hold” and a consensus target price of $45.75.
ScanSource, Inc. (NASDAQ:SCSC) traded down $0.15 during trading on Monday, reaching $35.75. 76,018 shares of the company’s stock were exchanged, compared to its average volume of 93,622. The company has a debt-to-equity ratio of 0.33, a current ratio of 1.94 and a quick ratio of 1.08. The firm has a market cap of $915.12, a price-to-earnings ratio of 12.64, a price-to-earnings-growth ratio of 4.02 and a beta of 1.03. ScanSource, Inc. has a 52-week low of $34.45 and a 52-week high of $45.35.
ScanSource (NASDAQ:SCSC) last posted its earnings results on Monday, November 6th. The industrial products company reported $0.76 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.78 by ($0.02). The firm had revenue of $924.56 million for the quarter, compared to analyst estimates of $966.20 million. ScanSource had a net margin of 0.45% and a return on equity of 1.97%. The company’s revenue for the quarter was down .9% on a year-over-year basis. During the same period in the previous year, the firm earned $0.68 earnings per share. research analysts anticipate that ScanSource, Inc. will post 2.98 earnings per share for the current year.
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ScanSource Company Profile
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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