California State Teachers Retirement System decreased its position in ScanSource, Inc. (NASDAQ:SCSC) by 9.7% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 39,692 shares of the industrial products company’s stock after selling 4,264 shares during the quarter. California State Teachers Retirement System owned about 0.16% of ScanSource worth $1,733,000 as of its most recent SEC filing.
Several other institutional investors have also recently bought and sold shares of SCSC. Victory Capital Management Inc. grew its position in ScanSource by 17.6% during the second quarter. Victory Capital Management Inc. now owns 2,974 shares of the industrial products company’s stock worth $120,000 after buying an additional 446 shares in the last quarter. Piedmont Investment Advisors LLC acquired a new stake in shares of ScanSource in the 2nd quarter valued at $221,000. Palouse Capital Management Inc. acquired a new stake in shares of ScanSource in the 3rd quarter valued at $226,000. SG Americas Securities LLC boosted its holdings in shares of ScanSource by 26.5% in the 3rd quarter. SG Americas Securities LLC now owns 6,030 shares of the industrial products company’s stock valued at $263,000 after purchasing an additional 1,262 shares in the last quarter. Finally, Capital Management Associates NY acquired a new stake in shares of ScanSource in the 3rd quarter valued at $415,000. 94.79% of the stock is currently owned by institutional investors.
A number of brokerages have weighed in on SCSC. ValuEngine downgraded ScanSource from a “buy” rating to a “hold” rating in a report on Friday, February 2nd. Zacks Investment Research downgraded ScanSource from a “buy” rating to a “hold” rating in a report on Friday. BidaskClub cut ScanSource from a “sell” rating to a “strong sell” rating in a research note on Wednesday, January 10th. Finally, TheStreet cut ScanSource from a “b” rating to a “c+” rating in a research note on Wednesday, November 8th. One equities research analyst has rated the stock with a sell rating and four have assigned a hold rating to the company’s stock. The stock currently has an average rating of “Hold” and a consensus price target of $43.25.
Shares of ScanSource, Inc. (NASDAQ SCSC) traded down $1.25 on Friday, hitting $32.25. The stock had a trading volume of 159,153 shares, compared to its average volume of 92,049. ScanSource, Inc. has a one year low of $31.40 and a one year high of $45.35. The company has a market cap of $824.66, a PE ratio of 18.97, a price-to-earnings-growth ratio of 3.48 and a beta of 1.06. The company has a quick ratio of 1.08, a current ratio of 2.15 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 EPS 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 company had revenue of $1.03 billion during the quarter, compared to analysts’ expectations of $965.15 million. During the same period in the prior year, the company earned $0.75 EPS. ScanSource’s revenue was up 14.1% compared to the same quarter last year. research analysts anticipate that ScanSource, Inc. will post 3.09 earnings per share for the current fiscal year.
ScanSource Company Profile
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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