Cubist Systematic Strategies LLC Sells 33,873 Shares of ScanSource, Inc. (NASDAQ:SCSC)

Cubist Systematic Strategies LLC cut its position in ScanSource, Inc. (NASDAQ:SCSC - Free Report) by 70.5% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 14,192 shares of the industrial products company's stock after selling 33,873 shares during the quarter. Cubist Systematic Strategies LLC owned 0.06% of ScanSource worth $673,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Quarry LP increased its stake in shares of ScanSource by 948.7% in the fourth quarter. Quarry LP now owns 797 shares of the industrial products company's stock valued at $38,000 after buying an additional 721 shares during the period. New Age Alpha Advisors LLC acquired a new stake in shares of ScanSource in the fourth quarter valued at about $64,000. Picton Mahoney Asset Management increased its stake in shares of ScanSource by 50.9% in the fourth quarter. Picton Mahoney Asset Management now owns 2,246 shares of the industrial products company's stock valued at $106,000 after buying an additional 758 shares during the period. Mitsubishi UFJ Asset Management Co. Ltd. acquired a new stake in shares of ScanSource in the fourth quarter valued at about $126,000. Finally, Tower Research Capital LLC TRC increased its stake in shares of ScanSource by 42.1% in the fourth quarter. Tower Research Capital LLC TRC now owns 2,862 shares of the industrial products company's stock valued at $136,000 after buying an additional 848 shares during the period. Institutional investors and hedge funds own 97.91% of the company's stock.

ScanSource Trading Up 0.2%

NASDAQ SCSC opened at $40.78 on Friday. The business has a 50 day simple moving average of $34.35 and a 200 day simple moving average of $42.01. ScanSource, Inc. has a one year low of $28.75 and a one year high of $53.90. The stock has a market capitalization of $956.86 million, a P/E ratio of 16.12, a P/E/G ratio of 1.14 and a beta of 1.30. The company has a debt-to-equity ratio of 0.15, a current ratio of 2.11 and a quick ratio of 1.30.

ScanSource (NASDAQ:SCSC - Get Free Report) last announced its quarterly earnings data on Thursday, May 8th. The industrial products company reported $0.86 EPS for the quarter, beating analysts' consensus estimates of $0.77 by $0.09. ScanSource had a return on equity of 8.55% and a net margin of 2.08%. The firm had revenue of $704.23 million during the quarter, compared to analysts' expectations of $809.17 million. During the same quarter last year, the firm posted $0.69 earnings per share. The company's revenue for the quarter was down 6.3% compared to the same quarter last year. Research analysts expect that ScanSource, Inc. will post 3.33 earnings per share for the current year.

Insider Buying and Selling at ScanSource

In other ScanSource news, CFO Stephen Jones sold 2,000 shares of the firm's stock in a transaction that occurred on Friday, March 21st. The stock was sold at an average price of $36.14, for a total value of $72,280.00. Following the completion of the sale, the chief financial officer now owns 69,816 shares of the company's stock, valued at approximately $2,523,150.24. This trade represents a 2.78% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Insiders own 4.20% of the company's stock.

Analyst Ratings Changes

SCSC has been the subject of several recent research reports. Northcoast Research raised ScanSource from a "neutral" rating to a "buy" rating and set a $42.00 price target for the company in a research note on Tuesday, May 6th. StockNews.com raised ScanSource from a "hold" rating to a "buy" rating in a research note on Monday.

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.

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