Vident Advisory LLC Buys Shares of 9,842 ScanSource, Inc. (NASDAQ:SCSC)

Vident Advisory LLC purchased a new position in ScanSource, Inc. (NASDAQ:SCSC - Free Report) during the 4th quarter, according to its most recent 13F filing with the SEC. 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 also recently bought and sold shares of the company. Sanctuary Advisors LLC boosted its position in shares of ScanSource by 3.5% during the 4th quarter. Sanctuary Advisors LLC now owns 10,103 shares of the industrial products company's stock valued at $479,000 after acquiring an additional 338 shares in the last quarter. Brandywine Global Investment Management LLC boosted its position in shares of ScanSource by 0.7% during the 4th quarter. Brandywine Global Investment Management LLC now owns 80,908 shares of the industrial products company's stock valued at $3,839,000 after acquiring an additional 538 shares in the last quarter. Sterling Capital Management LLC boosted its position in shares of ScanSource by 7.3% during the 4th quarter. Sterling Capital Management LLC now owns 9,782 shares of the industrial products company's stock valued at $464,000 after acquiring an additional 665 shares in the last quarter. Quarry LP boosted its position in shares of ScanSource by 948.7% during the 4th quarter. Quarry LP now owns 797 shares of the industrial products company's stock valued at $38,000 after acquiring an additional 721 shares in the last quarter. Finally, MetLife Investment Management LLC boosted its position in shares of ScanSource by 5.1% during the 4th quarter. MetLife Investment Management LLC now owns 14,956 shares of the industrial products company's stock valued at $710,000 after acquiring an additional 721 shares in the last quarter. 97.91% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several analysts have recently weighed in on SCSC shares. Wall Street Zen upgraded shares of ScanSource from a "hold" rating to a "buy" rating in a research report on Monday, May 12th. Northcoast Research raised shares of ScanSource from a "neutral" rating to a "buy" rating and set a $42.00 price target for the company in a report on Tuesday, May 6th.

ScanSource Price Performance

SCSC stock traded down $0.31 during trading on Friday, hitting $40.34. 256,382 shares of the stock traded hands, compared to its average volume of 233,236. ScanSource, Inc. has a one year low of $28.75 and a one year high of $53.90. The stock has a market cap of $911.52 million, a price-to-earnings ratio of 15.94, a P/E/G ratio of 1.14 and a beta of 1.30. The company has a 50 day simple moving average of $35.22 and a 200 day simple moving average of $41.36. 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 announced its 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. ScanSource had a net margin of 2.08% and a return on equity of 8.55%. The company had revenue of $704.23 million during the quarter, compared to the consensus estimate of $809.17 million. During the same period in the previous year, the firm posted $0.69 earnings per share. The company's revenue was down 6.3% on a year-over-year basis. Equities analysts expect that ScanSource, Inc. will post 3.33 EPS for the current fiscal year.

Insider Buying and Selling

In related news, CFO Stephen Jones sold 2,000 shares of the business's stock in a transaction that occurred on Friday, March 21st. The shares were sold at an average price of $36.14, for a total transaction of $72,280.00. Following the completion of the transaction, the chief financial officer now owns 69,816 shares in the company, valued at approximately $2,523,150.24. The trade was a 2.78% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 4.20% of the stock is currently owned by insiders.

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.