Vident Advisory LLC Takes $467,000 Position in ScanSource, Inc. (NASDAQ:SCSC)

Vident Advisory LLC purchased a new stake in ScanSource, Inc. (NASDAQ:SCSC - Free Report) in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm purchased 9,842 shares of the industrial products company's stock, valued at approximately $467,000.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Two Sigma Advisers LP acquired a new position in shares of ScanSource during the fourth quarter valued at about $256,000. Point72 Asset Management L.P. acquired a new position in ScanSource during the 4th quarter valued at about $81,000. ProShare Advisors LLC boosted its stake in ScanSource by 40.7% during the 4th quarter. ProShare Advisors LLC now owns 7,154 shares of the industrial products company's stock valued at $339,000 after purchasing an additional 2,069 shares during the last quarter. Millennium Management LLC increased its holdings in ScanSource by 0.5% during the 4th quarter. Millennium Management LLC now owns 239,722 shares of the industrial products company's stock worth $11,375,000 after purchasing an additional 1,211 shares in the last quarter. Finally, Lazard Asset Management LLC raised its stake in shares of ScanSource by 117.9% in the fourth quarter. Lazard Asset Management LLC now owns 29,380 shares of the industrial products company's stock worth $1,394,000 after purchasing an additional 15,896 shares during the last quarter. Institutional investors own 97.91% of the company's stock.

Insider Buying and Selling

In other ScanSource news, CFO Stephen Jones sold 2,000 shares of the firm's stock in a transaction 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 directly owns 69,816 shares of the company's stock, valued at $2,523,150.24. This trade represents a 2.78% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. 4.20% of the stock is currently owned by insiders.

ScanSource Stock Performance

Shares of SCSC traded down $0.31 on Friday, reaching $40.34. 256,382 shares of the company's stock traded hands, compared to its average volume of 233,187. The stock's 50 day simple moving average is $35.14 and its two-hundred day simple moving average is $41.54. The stock has a market cap of $911.52 million, a PE ratio of 15.94, a PEG ratio of 1.14 and a beta of 1.30. ScanSource, Inc. has a 52-week low of $28.75 and a 52-week high of $53.90. The company has a current ratio of 2.11, a quick ratio of 1.30 and a debt-to-equity ratio of 0.15.

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

Wall Street Analysts Forecast Growth

SCSC has been the subject of a number of analyst reports. Wall Street Zen raised ScanSource from a "hold" rating to a "buy" rating in a research report on Monday, May 12th. Northcoast Research upgraded shares of ScanSource from a "neutral" rating to a "buy" rating and set a $42.00 target price for the company in a report 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.