Advisor Resource Council Takes Position in ScanSource, Inc. (NASDAQ:SCSC)

Advisor Resource Council bought a new position in shares of ScanSource, Inc. (NASDAQ:SCSC - Free Report) during the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm bought 12,134 shares of the industrial products company's stock, valued at approximately $396,000. Advisor Resource Council owned about 0.05% of ScanSource at the end of the most recent quarter.

Several other institutional investors also recently modified their holdings of SCSC. Sanctuary Advisors LLC raised its position in shares of ScanSource by 3.5% during the fourth quarter. Sanctuary Advisors LLC now owns 10,103 shares of the industrial products company's stock worth $479,000 after purchasing an additional 338 shares during the period. SummerHaven Investment Management LLC raised its holdings in ScanSource by 1.9% during the 1st quarter. SummerHaven Investment Management LLC now owns 18,409 shares of the industrial products company's stock worth $626,000 after buying an additional 344 shares during the period. GAMMA Investing LLC lifted its stake in ScanSource by 25.5% in the first quarter. GAMMA Investing LLC now owns 1,944 shares of the industrial products company's stock valued at $66,000 after buying an additional 395 shares in the last quarter. Versant Capital Management Inc lifted its stake in ScanSource by 88.4% in the first quarter. Versant Capital Management Inc now owns 863 shares of the industrial products company's stock valued at $29,000 after buying an additional 405 shares in the last quarter. Finally, Brandywine Global Investment Management LLC boosted its holdings in shares of ScanSource by 0.7% in the fourth quarter. Brandywine Global Investment Management LLC now owns 80,908 shares of the industrial products company's stock valued at $3,839,000 after buying an additional 538 shares during the period. 97.91% of the stock is currently owned by institutional investors and hedge funds.

ScanSource Stock Up 0.9%

NASDAQ:SCSC traded up $0.37 during trading hours on Tuesday, reaching $41.81. 139,196 shares of the stock were exchanged, compared to its average volume of 227,189. The stock has a market cap of $944.91 million, a PE ratio of 15.09, a PEG ratio of 1.20 and a beta of 1.38. ScanSource, Inc. has a twelve month low of $28.75 and a twelve month high of $53.90. The firm has a 50 day moving average of $38.25 and a 200 day moving average of $40.27. The company has a debt-to-equity ratio of 0.14, a current ratio of 2.07 and a quick ratio of 1.32.

ScanSource (NASDAQ:SCSC - Get Free Report) last announced its earnings results on Thursday, May 8th. The industrial products company reported $0.86 EPS for the quarter, topping the consensus estimate of $0.77 by $0.09. The business had revenue of $704.23 million during the quarter, compared to analysts' expectations of $809.17 million. ScanSource had a net margin of 2.27% and a return on equity of 8.96%. The firm's revenue was down 6.3% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.69 earnings per share. On average, equities analysts expect that ScanSource, Inc. will post 3.33 earnings per share for the current year.

Wall Street Analyst Weigh In

A number of equities research analysts recently commented on SCSC shares. Wall Street Zen lowered shares of ScanSource from a "buy" rating to a "hold" rating in a report on Saturday, June 14th. Northcoast Research raised ScanSource from a "neutral" rating to a "buy" rating and set a $42.00 price target on the stock in a research note on Tuesday, May 6th.

Insider Activity at ScanSource

In other ScanSource news, EVP Rachel Hayden sold 6,738 shares of the company's stock in a transaction on Friday, June 20th. The shares were sold at an average price of $41.27, for a total transaction of $278,077.26. Following the sale, the executive vice president now directly owns 13,174 shares of the company's stock, valued at approximately $543,690.98. This represents a 33.84% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. 4.20% of the stock is owned by company insiders.

ScanSource Profile

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.