55,559 Shares in ScanSource, Inc. (NASDAQ:SCSC) Acquired by Moran Wealth Management LLC

Moran Wealth Management LLC acquired a new position in ScanSource, Inc. (NASDAQ:SCSC - Free Report) during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 55,559 shares of the industrial products company's stock, valued at approximately $1,890,000. Moran Wealth Management LLC owned approximately 0.24% of ScanSource as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors also recently made changes to their positions in SCSC. Deutsche Bank AG lifted its position in ScanSource by 47.8% during the 4th quarter. Deutsche Bank AG now owns 20,510 shares of the industrial products company's stock worth $973,000 after buying an additional 6,629 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its position in shares of ScanSource by 18.0% during the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 45,469 shares of the industrial products company's stock worth $2,158,000 after purchasing an additional 6,936 shares in the last quarter. Susquehanna International Group LLP grew its stake in shares of ScanSource by 59.1% during the fourth quarter. Susquehanna International Group LLP now owns 46,837 shares of the industrial products company's stock valued at $2,222,000 after purchasing an additional 17,406 shares during the last quarter. Norges Bank acquired a new stake in shares of ScanSource in the fourth quarter valued at approximately $4,137,000. Finally, Wealth Enhancement Advisory Services LLC bought a new position in ScanSource in the 4th quarter worth approximately $365,000. Institutional investors own 97.91% of the company's stock.

ScanSource Trading Down 0.3%

Shares of NASDAQ SCSC traded down $0.14 during mid-day trading on Monday, hitting $41.81. The company's stock had a trading volume of 233,718 shares, compared to its average volume of 226,506. ScanSource, Inc. has a one year low of $28.75 and a one year high of $53.90. The company's fifty day simple moving average is $39.08 and its 200-day simple moving average is $39.90. The company has a debt-to-equity ratio of 0.14, a current ratio of 2.07 and a quick ratio of 1.32. The stock has a market cap of $944.91 million, a price-to-earnings ratio of 15.09, a price-to-earnings-growth ratio of 1.21 and a beta of 1.38.

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 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 business had revenue of $704.23 million for the quarter, compared to analyst estimates of $809.17 million. During the same period in the prior year, the business posted $0.69 earnings per share. ScanSource's revenue was down 6.3% compared to the same quarter last year. On average, sell-side analysts anticipate that ScanSource, Inc. will post 3.33 earnings per share for the current fiscal year.

Insider Activity

In related news, EVP Rachel Hayden sold 6,738 shares of ScanSource stock in a transaction on Friday, June 20th. The stock was sold at an average price of $41.27, for a total transaction of $278,077.26. Following the completion of the sale, the executive vice president directly owned 13,174 shares of the company's stock, valued at $543,690.98. The trade was a 33.84% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 4.20% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

A number of research analysts have commented on the company. Wall Street Zen lowered ScanSource from a "buy" rating to a "hold" rating in a research 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.

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.