Pacer Advisors Inc. Grows Stock Position in ScanSource, Inc. (NASDAQ:SCSC)

Pacer Advisors Inc. boosted its stake in shares of ScanSource, Inc. (NASDAQ:SCSC) by 54.2% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 2,319,469 shares of the industrial products company’s stock after buying an additional 815,240 shares during the quarter. Pacer Advisors Inc. owned 9.39% of ScanSource worth $102,776,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors also recently modified their holdings of the stock. Vanguard Group Inc. increased its stake in ScanSource by 1.2% in the 1st quarter. Vanguard Group Inc. now owns 3,479,683 shares of the industrial products company’s stock valued at $153,245,000 after purchasing an additional 40,264 shares in the last quarter. Dimensional Fund Advisors LP grew its holdings in ScanSource by 2.0% in the second quarter. Dimensional Fund Advisors LP now owns 1,983,625 shares of the industrial products company’s stock valued at $87,894,000 after purchasing an additional 39,533 shares during the last quarter. Wasatch Advisors LP increased its position in shares of ScanSource by 67.9% in the first quarter. Wasatch Advisors LP now owns 1,055,882 shares of the industrial products company’s stock valued at $46,501,000 after buying an additional 426,945 shares in the last quarter. Charles Schwab Investment Management Inc. raised its stake in shares of ScanSource by 1.1% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 627,886 shares of the industrial products company’s stock worth $24,871,000 after buying an additional 7,125 shares during the last quarter. Finally, American Century Companies Inc. boosted its position in shares of ScanSource by 75.5% in the 2nd quarter. American Century Companies Inc. now owns 521,127 shares of the industrial products company’s stock worth $23,091,000 after buying an additional 224,160 shares in the last quarter. 97.91% of the stock is currently owned by institutional investors and hedge funds.

ScanSource Trading Down 1.4 %

Shares of ScanSource stock opened at $48.19 on Friday. ScanSource, Inc. has a fifty-two week low of $27.86 and a fifty-two week high of $53.28. The business’s fifty day moving average is $48.12 and its two-hundred day moving average is $45.60. The company has a quick ratio of 1.33, a current ratio of 2.10 and a debt-to-equity ratio of 0.15. The firm has a market cap of $1.19 billion, a PE ratio of 15.30, a P/E/G ratio of 1.46 and a beta of 1.41.

ScanSource (NASDAQ:SCSC) last released its earnings results on Tuesday, August 27th. The industrial products company reported $0.80 earnings per share for the quarter, missing the consensus estimate of $0.93 by ($0.13). The business had revenue of $746.11 million for the quarter, compared to analysts’ expectations of $838.60 million. ScanSource had a return on equity of 8.32% and a net margin of 2.36%. The business’s quarterly revenue was down 21.2% compared to the same quarter last year. During the same quarter last year, the company posted $0.76 earnings per share. Analysts anticipate that ScanSource, Inc. will post 3.24 earnings per share for the current year.

Insider Buying and Selling

In related news, CEO Michael L. Baur sold 7,798 shares of the company’s stock in a transaction that occurred on Thursday, July 11th. The shares were sold at an average price of $43.81, for a total transaction of $341,630.38. Following the completion of the transaction, the chief executive officer now owns 118,080 shares of the company’s stock, valued at $5,173,084.80. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, CEO Michael L. Baur sold 6,160 shares of the firm’s stock in a transaction dated Wednesday, July 3rd. The stock was sold at an average price of $43.67, for a total value of $269,007.20. Following the transaction, the chief executive officer now directly owns 118,080 shares in the company, valued at approximately $5,156,553.60. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CEO Michael L. Baur sold 7,798 shares of the business’s stock in a transaction that occurred on Thursday, July 11th. The stock was sold at an average price of $43.81, for a total transaction of $341,630.38. Following the sale, the chief executive officer now owns 118,080 shares of the company’s stock, valued at $5,173,084.80. The disclosure for this sale can be found here. Over the last three months, insiders have sold 91,151 shares of company stock valued at $3,914,760. Insiders own 4.56% of the company’s stock.

Wall Street Analyst Weigh In

Separately, Raymond James downgraded shares of ScanSource from an “outperform” rating to a “market perform” rating in a report on Thursday, August 15th.

About ScanSource

ScanSource, Inc engages in the distribution of technology products and solutions in the United States, Canada, and Brazil. It operates through two segments, Specialty Technology Solutions and Modern Communications & Cloud. The Specialty Technology Solutions segment provides a portfolio of solutions primarily for enterprise mobile computing, data capture, barcode printing, point of sale (POS), payments, networking, electronic physical security, cyber security, and other technologies.