Atlanta Capital Management Co. L L C cut its stake in ScanSource, Inc. (NASDAQ:SCSC) by 5.0% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 473,947 shares of the industrial products company’s stock after selling 24,916 shares during the period. Atlanta Capital Management Co. L L C’s holdings in ScanSource were worth $16,967,000 at the end of the most recent reporting period.
Several other institutional investors and hedge funds also recently modified their holdings of SCSC. Vanguard Group Inc. raised its holdings in shares of ScanSource by 1.2% in the 2nd quarter. Vanguard Group Inc. now owns 2,326,600 shares of the industrial products company’s stock worth $93,763,000 after buying an additional 26,629 shares in the last quarter. Voya Investment Management LLC raised its holdings in shares of ScanSource by 8.0% in the 2nd quarter. Voya Investment Management LLC now owns 13,394 shares of the industrial products company’s stock worth $540,000 after buying an additional 994 shares in the last quarter. State Street Corp raised its holdings in shares of ScanSource by 3.6% in the 2nd quarter. State Street Corp now owns 674,361 shares of the industrial products company’s stock worth $27,177,000 after buying an additional 23,694 shares in the last quarter. Public Employees Retirement System of Ohio raised its holdings in shares of ScanSource by 1.0% in the 2nd quarter. Public Employees Retirement System of Ohio now owns 42,294 shares of the industrial products company’s stock worth $1,704,000 after buying an additional 438 shares in the last quarter. Finally, Shell Asset Management Co. acquired a new position in shares of ScanSource in the 3rd quarter worth approximately $2,026,000. 93.06% of the stock is owned by institutional investors and hedge funds.
A number of research firms recently weighed in on SCSC. ValuEngine cut ScanSource from a “buy” rating to a “hold” rating in a report on Sunday, December 31st. Zacks Investment Research cut ScanSource from a “hold” rating to a “sell” rating in a report on Thursday, November 9th. BidaskClub raised ScanSource from a “strong sell” rating to a “sell” rating in a report on Wednesday, December 20th. Finally, TheStreet cut 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 assigned a hold rating to the company. The stock has a consensus rating of “Hold” and an average price target of $38.00.
Shares of ScanSource, Inc. (SCSC) opened at $32.70 on Friday. 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 $836.18, a price-to-earnings ratio of 10.94, a P/E/G ratio of 3.45 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 released its quarterly earnings results on Tuesday, February 6th. The industrial products company reported $0.90 earnings per share for the quarter, beating 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 during the quarter, compared to analysts’ expectations of $965.15 million. During the same period last year, the firm posted $0.75 EPS. The business’s revenue was up 14.1% on a year-over-year basis. equities analysts anticipate that ScanSource, Inc. will post 3.16 earnings per share 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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