Advisor Resource Council Invests $396,000 in ScanSource, Inc. (NASDAQ:SCSC)

Advisor Resource Council bought a new stake in shares of ScanSource, Inc. (NASDAQ:SCSC - Free Report) during the 1st quarter, according to its most recent filing with the SEC. The fund bought 12,134 shares of the industrial products company's stock, valued at approximately $396,000. Advisor Resource Council owned approximately 0.05% of ScanSource as of its most recent filing with the SEC.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Quarry LP raised its stake in ScanSource by 948.7% during the fourth quarter. Quarry LP now owns 797 shares of the industrial products company's stock worth $38,000 after acquiring an additional 721 shares in the last quarter. Versant Capital Management Inc grew its holdings in shares of ScanSource by 88.4% in the 1st quarter. Versant Capital Management Inc now owns 863 shares of the industrial products company's stock worth $29,000 after purchasing an additional 405 shares during the last quarter. New Age Alpha Advisors LLC bought a new stake in shares of ScanSource in the 4th quarter worth about $64,000. Point72 Asset Management L.P. acquired a new stake in shares of ScanSource during the 4th quarter worth about $81,000. Finally, GAMMA Investing LLC lifted its holdings in ScanSource by 25.5% during the 1st quarter. GAMMA Investing LLC now owns 1,944 shares of the industrial products company's stock valued at $66,000 after purchasing an additional 395 shares during the last quarter. Institutional investors own 97.91% of the company's stock.

Analyst Ratings Changes

Several analysts have weighed in on the stock. Wall Street Zen cut shares of ScanSource from a "buy" rating to a "hold" rating in a research note on Saturday, June 14th. Northcoast Research raised ScanSource from a "neutral" rating to a "buy" rating and set a $42.00 target price on the stock in a report on Tuesday, May 6th.

Insider Buying and Selling

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

ScanSource Price Performance

Shares of NASDAQ:SCSC traded up $0.13 during midday trading on Thursday, reaching $41.89. The company's stock had a trading volume of 121,131 shares, compared to its average volume of 226,547. The business's fifty day simple moving average is $38.66 and its 200-day simple moving average is $40.21. 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, Inc. has a fifty-two week low of $28.75 and a fifty-two week high of $53.90. The company has a market capitalization of $946.71 million, a P/E ratio of 15.12, a P/E/G ratio of 1.21 and a beta of 1.38.

ScanSource (NASDAQ:SCSC - Get Free Report) last posted its quarterly earnings data on Thursday, May 8th. The industrial products company reported $0.86 earnings per share for the quarter, beating the consensus estimate of $0.77 by $0.09. ScanSource had a net margin of 2.27% and a return on equity of 8.96%. 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 company posted $0.69 EPS. The company's quarterly revenue was down 6.3% compared to the same quarter last year. As a group, equities research analysts expect that ScanSource, Inc. will post 3.33 EPS for the current fiscal year.

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.