Intech Investment Management LLC Purchases New Position in ScanSource, Inc. (NASDAQ:SCSC)

Intech Investment Management LLC bought a new position in shares of ScanSource, Inc. (NASDAQ:SCSC) during the 3rd quarter, according to its most recent 13F filing with the SEC. The firm bought 7,026 shares of the industrial products company’s stock, valued at approximately $337,000.

Other hedge funds have also recently bought and sold shares of the company. Royce & Associates LP raised its holdings in ScanSource by 177.3% during the 3rd quarter. Royce & Associates LP now owns 21,432 shares of the industrial products company’s stock worth $1,029,000 after buying an additional 13,703 shares during the period. Janney Montgomery Scott LLC acquired a new stake in ScanSource during the 3rd quarter worth approximately $1,674,000. Cornercap Investment Counsel Inc. acquired a new stake in ScanSource during the 2nd quarter worth approximately $524,000. Pacer Advisors Inc. raised its holdings in ScanSource by 54.2% during the 2nd quarter. Pacer Advisors Inc. now owns 2,319,469 shares of the industrial products company’s stock worth $102,776,000 after buying an additional 815,240 shares during the period. Finally, B. Metzler seel. Sohn & Co. Holding AG acquired a new stake in ScanSource during the 3rd quarter worth approximately $1,270,000. 97.91% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In related news, CEO Michael L. Baur sold 29,617 shares of the firm’s stock in a transaction on Thursday, November 14th. The shares were sold at an average price of $49.20, for a total value of $1,457,156.40. Following the completion of the transaction, the chief executive officer now directly owns 177,760 shares of the company’s stock, valued at approximately $8,745,792. This trade represents a 14.28 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders have sold 53,010 shares of company stock worth $2,611,843 over the last ninety days. Insiders own 4.20% of the company’s stock.

ScanSource Price Performance

NASDAQ SCSC opened at $52.66 on Wednesday. The company has a quick ratio of 1.27, a current ratio of 2.03 and a debt-to-equity ratio of 0.15. ScanSource, Inc. has a 12-month low of $31.01 and a 12-month high of $53.76. The company has a market capitalization of $1.25 billion, a PE ratio of 16.88, a price-to-earnings-growth ratio of 1.50 and a beta of 1.44. The firm’s 50 day moving average is $48.29 and its 200-day moving average is $47.47.

ScanSource (NASDAQ:SCSC) last posted its quarterly earnings data on Thursday, November 7th. The industrial products company reported $0.84 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.77 by $0.07. ScanSource had a net margin of 2.49% and a return on equity of 8.53%. The company had revenue of $775.58 million for the quarter, compared to the consensus estimate of $774.90 million. During the same period last year, the company earned $0.74 earnings per share. The firm’s revenue was down 11.5% compared to the same quarter last year. Equities research analysts anticipate that ScanSource, Inc. will post 3.51 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

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.