Geode Capital Management LLC Has $28.11 Million Position in ScanSource, Inc. (NASDAQ:SCSC)

Geode Capital Management LLC lessened its holdings in shares of ScanSource, Inc. (NASDAQ:SCSC) by 2.2% during the 3rd quarter, Holdings Channel.com reports. The firm owned 585,072 shares of the industrial products company’s stock after selling 12,858 shares during the period. Geode Capital Management LLC’s holdings in ScanSource were worth $28,106,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently made changes to their positions in SCSC. Barclays PLC increased its position in ScanSource by 97.9% in the 3rd quarter. Barclays PLC now owns 54,346 shares of the industrial products company’s stock valued at $2,610,000 after acquiring an additional 26,881 shares in the last quarter. Public Employees Retirement System of Ohio raised its position in ScanSource by 42.4% in the 3rd quarter. Public Employees Retirement System of Ohio now owns 16,047 shares of the industrial products company’s stock worth $771,000 after purchasing an additional 4,780 shares during the last quarter. Jane Street Group LLC raised its position in ScanSource by 6.2% in the 3rd quarter. Jane Street Group LLC now owns 56,980 shares of the industrial products company’s stock worth $2,737,000 after purchasing an additional 3,307 shares during the last quarter. Systematic Financial Management LP bought a new position in ScanSource in the 3rd quarter valued at $205,000. Finally, Point72 DIFC Ltd acquired a new stake in shares of ScanSource in the 3rd quarter valued at $35,000. 97.91% of the stock is currently owned by institutional investors and hedge funds.

ScanSource Price Performance

ScanSource stock opened at $49.05 on Friday. The business’s 50-day simple moving average is $49.28 and its 200 day simple moving average is $47.77. The company has a quick ratio of 1.27, a current ratio of 2.03 and a debt-to-equity ratio of 0.15. The stock has a market cap of $1.17 billion, a price-to-earnings ratio of 15.72, a P/E/G ratio of 1.50 and a beta of 1.44. ScanSource, Inc. has a 12-month low of $31.01 and a 12-month high of $53.90.

ScanSource (NASDAQ:SCSC) last posted its quarterly earnings results on Thursday, November 7th. The industrial products company reported $0.84 earnings per share for the quarter, topping 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 business had revenue of $775.58 million during the quarter, compared to the consensus estimate of $774.90 million. During the same period in the previous year, the firm posted $0.74 earnings per share. ScanSource’s revenue for the quarter was down 11.5% compared to the same quarter last year. As a group, research analysts anticipate that ScanSource, Inc. will post 3.51 earnings per share for the current year.

Insider Buying and Selling

In other ScanSource news, CAO Brandy Ford sold 1,845 shares of the stock in a transaction dated Thursday, December 19th. The stock was sold at an average price of $49.38, for a total value of $91,106.10. Following the completion of the sale, the chief accounting officer now directly owns 9,506 shares in the company, valued at $469,406.28. This represents a 16.25 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Michael L. Baur sold 8,312 shares of the business’s stock in a transaction that occurred on Wednesday, November 20th. The shares were sold at an average price of $48.98, for a total value of $407,121.76. Following the completion of the transaction, the chief executive officer now owns 177,760 shares of the company’s stock, valued at $8,706,684.80. This represents a 4.47 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 54,855 shares of company stock valued at $2,702,949 over the last three months. Company insiders own 4.20% of the company’s stock.

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.