Crossmark Global Holdings Inc. raised its position in ScanSource, Inc. (NASDAQ:SCSC) by 19.3% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 14,562 shares of the industrial products company’s stock after buying an additional 2,356 shares during the quarter. Crossmark Global Holdings Inc. owned approximately 0.06% of ScanSource worth $521,000 as of its most recent filing with the Securities and Exchange Commission.
Other hedge funds and other institutional investors have also recently modified their holdings of the company. Piedmont Investment Advisors LLC acquired a new position in shares of ScanSource in the second quarter valued at approximately $221,000. Vanguard Group Inc. increased its holdings in shares of ScanSource by 1.2% in the second quarter. Vanguard Group Inc. now owns 2,326,600 shares of the industrial products company’s stock valued at $93,763,000 after purchasing an additional 26,629 shares during the period. Prudential Financial Inc. increased its holdings in shares of ScanSource by 1.9% in the third quarter. Prudential Financial Inc. now owns 321,379 shares of the industrial products company’s stock valued at $14,028,000 after purchasing an additional 5,950 shares during the period. Convergence Investment Partners LLC acquired a new position in shares of ScanSource in the third quarter valued at approximately $1,759,000. Finally, State Street Corp increased its holdings in shares of ScanSource by 3.6% in the second quarter. State Street Corp now owns 674,361 shares of the industrial products company’s stock valued at $27,177,000 after purchasing an additional 23,694 shares during the period. Institutional investors own 93.06% of the company’s stock.
A number of research analysts have recently issued reports on the company. Zacks Investment Research lowered ScanSource from a “buy” rating to a “hold” rating in a report on Friday, February 9th. BidaskClub lowered ScanSource from a “sell” rating to a “strong sell” rating in a report on Wednesday, January 10th. ValuEngine lowered ScanSource from a “buy” rating to a “hold” rating in a report on Friday, February 2nd. Finally, TheStreet lowered ScanSource from a “b” rating to a “c+” rating in a report on Wednesday, November 8th. One investment analyst has rated the stock with a sell rating and three have given a hold rating to the stock. The stock presently has a consensus rating of “Hold” and a consensus target price of $38.00.
ScanSource, Inc. (SCSC) opened at $32.95 on Wednesday. ScanSource, Inc. has a twelve month low of $31.40 and a twelve month high of $45.35. The firm has a market capitalization of $840.21, a price-to-earnings ratio of 16.81, a P/E/G ratio of 3.49 and a beta of 1.06. The company has a current ratio of 2.15, a quick ratio of 1.26 and a debt-to-equity ratio of 0.42.
ScanSource (NASDAQ:SCSC) last announced its quarterly earnings data on Tuesday, February 6th. The industrial products company reported $0.90 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.80 by $0.10. ScanSource had a return on equity of 9.06% and a net margin of 1.18%. The firm had revenue of $1.03 billion for the quarter, compared to analyst estimates of $965.15 million. During the same quarter in the prior year, the company posted $0.75 earnings per share. ScanSource’s quarterly revenue was up 14.1% on a year-over-year basis. analysts expect that ScanSource, Inc. will post 3.16 EPS for the current fiscal year.
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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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