Wells Fargo & Company MN grew its holdings in shares of ScanSource (NASDAQ:SCSC) by 27.4% during the fourth quarter, HoldingsChannel reports. The institutional investor owned 50,552 shares of the industrial products company’s stock after buying an additional 10,864 shares during the period. Wells Fargo & Company MN’s holdings in ScanSource were worth $1,810,000 as of its most recent SEC filing.
Other hedge funds have also made changes to their positions in the company. LSV Asset Management boosted its stake in ScanSource by 1.1% in the 4th quarter. LSV Asset Management now owns 902,910 shares of the industrial products company’s stock worth $32,324,000 after purchasing an additional 10,183 shares in the last quarter. Fenimore Asset Management Inc. boosted its stake in ScanSource by 1.5% in the 4th quarter. Fenimore Asset Management Inc. now owns 309,525 shares of the industrial products company’s stock worth $11,081,000 after purchasing an additional 4,455 shares in the last quarter. Schwab Charles Investment Management Inc. boosted its stake in ScanSource by 7.5% in the 4th quarter. Schwab Charles Investment Management Inc. now owns 306,857 shares of the industrial products company’s stock worth $10,986,000 after purchasing an additional 21,395 shares in the last quarter. Smith Graham & Co. Investment Advisors LP boosted its stake in ScanSource by 29.9% in the 4th quarter. Smith Graham & Co. Investment Advisors LP now owns 218,639 shares of the industrial products company’s stock worth $7,827,000 after purchasing an additional 50,361 shares in the last quarter. Finally, Assenagon Asset Management S.A. bought a new position in ScanSource in the 4th quarter worth about $4,330,000. Hedge funds and other institutional investors own 96.72% of the company’s stock.
Shares of ScanSource stock opened at $36.75 on Tuesday. The stock has a market capitalization of $926.96, a P/E ratio of 13.36, a PEG ratio of 3.83 and a beta of 1.01. ScanSource has a 1 year low of $31.40 and a 1 year high of $45.35. 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 results on Tuesday, February 6th. The industrial products company reported $0.90 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.80 by $0.10. The company had revenue of $1.03 billion for the quarter, compared to analysts’ expectations of $965.15 million. ScanSource had a net margin of 1.18% and a return on equity of 9.06%. ScanSource’s revenue was up 14.1% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.75 EPS. analysts expect that ScanSource will post 3.16 earnings per share for the current fiscal year.
SCSC has been the topic of a number of analyst reports. Zacks Investment Research cut shares of ScanSource from a “buy” rating to a “hold” rating in a research note on Friday, February 9th. BidaskClub upgraded shares of ScanSource from a “sell” rating to a “hold” rating in a research note on Wednesday, April 4th. ValuEngine cut shares of ScanSource from a “buy” rating to a “hold” rating in a research note on Sunday, December 31st. Finally, Northcoast Research upgraded shares of ScanSource from a “neutral” rating to a “buy” rating and set a $43.00 price target on the stock in a research note on Monday, March 26th. Three research analysts have rated the stock with a hold rating and one has issued a buy rating to the company. The stock presently has a consensus rating of “Hold” and an average price target of $40.50.
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ScanSource, Inc distributes technology products and solutions in North America, Latin America, and Europe. The company's Worldwide Barcode, Networking & Security segment focuses on automatic identification and data capture (AIDC), point-of-sale (POS), networking, electronic physical security, 3D printing, and other specialty technologies.
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