Squarepoint Ops LLC Has $451,000 Stock Position in ScanSource, Inc. (NASDAQ:SCSC)

Squarepoint Ops LLC lessened its holdings in shares of ScanSource, Inc. (NASDAQ:SCSC - Free Report) by 57.2% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 9,513 shares of the industrial products company's stock after selling 12,698 shares during the period. Squarepoint Ops LLC's holdings in ScanSource were worth $451,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also modified their holdings of the business. Castlekeep Investment Advisors LLC bought a new position in ScanSource during the 4th quarter worth about $78,694,000. Raymond James Financial Inc. bought a new stake in shares of ScanSource in the fourth quarter valued at about $5,687,000. American Century Companies Inc. boosted its position in shares of ScanSource by 13.1% during the fourth quarter. American Century Companies Inc. now owns 759,318 shares of the industrial products company's stock worth $36,030,000 after buying an additional 87,721 shares during the period. Norges Bank bought a new position in shares of ScanSource during the fourth quarter worth about $4,137,000. Finally, First Trust Advisors LP bought a new position in shares of ScanSource during the fourth quarter worth about $3,454,000. 97.91% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several research firms have commented on SCSC. Northcoast Research upgraded 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. Wall Street Zen upgraded shares of ScanSource from a "hold" rating to a "buy" rating in a report on Monday, May 12th.

ScanSource Stock Up 0.2%

NASDAQ:SCSC traded up $0.07 on Friday, hitting $41.50. 168,031 shares of the company's stock were exchanged, compared to its average volume of 233,147. The firm has a 50-day moving average price of $35.86 and a 200-day moving average price of $41.07. ScanSource, Inc. has a 52 week low of $28.75 and a 52 week high of $53.90. The company has a debt-to-equity ratio of 0.15, a current ratio of 2.11 and a quick ratio of 1.30. The company has a market cap of $937.73 million, a P/E ratio of 16.40, a price-to-earnings-growth ratio of 1.14 and a beta of 1.38.

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

Insiders Place Their Bets

In other news, CFO Stephen Jones sold 2,000 shares of the stock in a transaction that occurred on Friday, March 21st. The stock was sold at an average price of $36.14, for a total value of $72,280.00. Following the completion of the sale, the chief financial officer now owns 69,816 shares of the company's stock, valued at approximately $2,523,150.24. This represents a 2.78% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Insiders own 4.20% of the company's stock.

ScanSource Company 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.