Dimensional Fund Advisors LP Has $60.29 Million Position in ScanSource, Inc. $SCSC

Key Points

• Dimensional Fund Advisors reduced its ScanSource stake by 2.2% to 1.66 million shares, valued at approximately $60.3 million. Institutional investors collectively own 97.91% of the company.
• Analyst sentiment remains neutral: ScanSource has a consensus “Hold” rating from three analysts, with an average price target of $43.
• ScanSource exceeded quarterly expectations, reporting $0.94 in earnings per share versus the $0.91 estimate and $758.6 million in revenue, up 8.8% year over year.

Dimensional Fund Advisors LP lessened its holdings in ScanSource, Inc. (NASDAQ:SCSC - Free Report) by 2.2% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 1,660,950 shares of the industrial products company's stock after selling 37,103 shares during the period. Dimensional Fund Advisors LP owned 7.73% of ScanSource worth $60,292,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also added to or reduced their stakes in SCSC. Fifth Third Bancorp boosted its position in ScanSource by 12,457.4% during the first quarter. Fifth Third Bancorp now owns 25,617 shares of the industrial products company's stock worth $930,000 after purchasing an additional 25,413 shares during the period. Strs Ohio increased its holdings in shares of ScanSource by 12.3% during the first quarter. Strs Ohio now owns 18,300 shares of the industrial products company's stock worth $664,000 after purchasing an additional 2,000 shares during the period. Pzena Investment Management LLC raised its holdings in ScanSource by 0.6% in the 1st quarter. Pzena Investment Management LLC now owns 913,239 shares of the industrial products company's stock valued at $33,151,000 after acquiring an additional 5,783 shares in the last quarter. Inspire Investing LLC raised its stake in ScanSource by 19.3% in the first quarter. Inspire Investing LLC now owns 14,193 shares of the industrial products company's stock valued at $515,000 after purchasing an additional 2,301 shares in the last quarter. Finally, Janney Montgomery Scott LLC raised its position in shares of ScanSource by 10.6% in the 1st quarter. Janney Montgomery Scott LLC now owns 32,082 shares of the industrial products company's stock valued at $1,165,000 after buying an additional 3,064 shares in the last quarter. Institutional investors and hedge funds own 97.91% of the company's stock.

Analyst Ratings Changes

Several analysts recently weighed in on SCSC shares. Zacks Research upgraded ScanSource from a "strong sell" rating to a "hold" rating in a research report on Tuesday, April 7th. Weiss Ratings raised shares of ScanSource from a "hold (c)" rating to a "hold (c+)" rating in a research note on Friday, May 29th. Finally, Wall Street Zen downgraded shares of ScanSource from a "buy" rating to a "hold" rating in a research report on Saturday, July 18th. Three research analysts have rated the stock with a Hold rating, According to data from MarketBeat, ScanSource currently has a consensus rating of "Hold" and an average price target of $43.00.

ScanSource Stock Performance

Shares of SCSC opened at $56.62 on Friday. ScanSource, Inc. has a one year low of $33.76 and a one year high of $58.94. The company has a market cap of $1.15 billion, a PE ratio of 17.16, a P/E/G ratio of 0.88 and a beta of 1.28. The stock has a 50-day moving average of $51.00 and a 200-day moving average of $43.20. The company has a debt-to-equity ratio of 0.11, a current ratio of 1.86 and a quick ratio of 1.20.

ScanSource (NASDAQ:SCSC - Get Free Report) last posted its quarterly earnings results on Thursday, May 7th. The industrial products company reported $0.94 earnings per share for the quarter, topping analysts' consensus estimates of $0.91 by $0.03. ScanSource had a return on equity of 9.35% and a net margin of 2.38%.The business had revenue of $758.59 million for the quarter, compared to the consensus estimate of $738.55 million. During the same period in the prior year, the business earned $0.86 EPS. The firm's revenue for the quarter was up 8.8% on a year-over-year basis. On average, equities research analysts predict that ScanSource, Inc. will post 3.9 EPS for the current fiscal year.

About ScanSource

ScanSource, Inc is a global provider of technology products and solutions designed to help businesses enhance operational efficiency and customer engagement. The company specializes in the distribution of point-of-sale (POS) systems, barcode and data capture devices, networking and communications equipment, and value-added software and cloud services. By combining hardware, software and professional services, ScanSource supports channel partners in delivering end-to-end solutions across multiple industries, including retail, hospitality, healthcare and logistics.

Founded in 1992 and headquartered in Greenville, South Carolina, ScanSource has built a broad international footprint, serving customers throughout North, Central and South America as well as Europe, the Middle East and Africa.

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