Mackenzie Financial Corp Has $2.64 Million Position in ScanSource, Inc. (NASDAQ:SCSC)

Mackenzie Financial Corp raised its holdings in shares of ScanSource, Inc. (NASDAQ:SCSC - Free Report) by 55.1% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 55,692 shares of the industrial products company's stock after acquiring an additional 19,790 shares during the period. Mackenzie Financial Corp owned approximately 0.24% of ScanSource worth $2,643,000 as of its most recent SEC filing.

A number of other institutional investors also recently added to or reduced their stakes in SCSC. Quarry LP increased its holdings in shares of ScanSource by 948.7% during the fourth quarter. Quarry LP now owns 797 shares of the industrial products company's stock valued at $38,000 after purchasing an additional 721 shares during the period. New Age Alpha Advisors LLC acquired a new position in ScanSource during the 4th quarter valued at about $64,000. Point72 Asset Management L.P. acquired a new position in ScanSource during the 4th quarter valued at about $81,000. Picton Mahoney Asset Management increased its stake in ScanSource by 50.9% during the 4th 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. Finally, Mitsubishi UFJ Asset Management Co. Ltd. acquired a new position in ScanSource during the 4th quarter valued at about $126,000. Institutional investors and hedge funds own 97.91% of the company's stock.

Insider Transactions at ScanSource

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

Analysts Set New Price Targets

Several research firms have commented on SCSC. Wall Street Zen raised shares of ScanSource from a "hold" rating to a "buy" rating in a research note on Monday, May 12th. Northcoast Research raised shares of ScanSource from a "neutral" rating to a "buy" rating and set a $42.00 target price on the stock in a research note on Tuesday, May 6th.

ScanSource Price Performance

ScanSource stock traded down $0.31 during trading hours on Friday, hitting $40.34. 256,382 shares of the company traded hands, compared to its average volume of 233,236. The firm has a market cap of $911.52 million, a P/E ratio of 15.94, a P/E/G ratio of 1.14 and a beta of 1.30. The company has a quick ratio of 1.30, a current ratio of 2.11 and a debt-to-equity ratio of 0.15. The firm's 50-day simple moving average is $35.22 and its two-hundred day simple moving average is $41.42. ScanSource, Inc. has a 1-year low of $28.75 and a 1-year high of $53.90.

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

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.