Wealth Enhancement Advisory Services LLC Takes $365,000 Position in ScanSource, Inc. (NASDAQ:SCSC)

Wealth Enhancement Advisory Services LLC acquired a new stake in shares of ScanSource, Inc. (NASDAQ:SCSC - Free Report) during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund acquired 7,686 shares of the industrial products company's stock, valued at approximately $365,000.

Several other institutional investors have also modified their holdings of the business. Universal Beteiligungs und Servicegesellschaft mbH bought a new position in shares of ScanSource during the 4th quarter valued at about $3,771,000. Mackenzie Financial Corp lifted its holdings in shares of ScanSource by 55.1% during the 4th quarter. Mackenzie Financial Corp now owns 55,692 shares of the industrial products company's stock valued at $2,643,000 after purchasing an additional 19,790 shares in the last quarter. Castlekeep Investment Advisors LLC bought a new stake in ScanSource in the 4th quarter valued at approximately $1,639,000. Public Employees Retirement System of Ohio lifted its stake in ScanSource by 14.4% in the 4th quarter. Public Employees Retirement System of Ohio now owns 18,364 shares of the industrial products company's stock valued at $871,000 after acquiring an additional 2,317 shares in the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its stake in ScanSource by 18.0% in the 4th 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 valued at $2,158,000 after acquiring an additional 6,936 shares in the last quarter. Institutional investors own 97.91% of the company's stock.

Analyst Ratings Changes

A number of equities research analysts have recently issued reports on SCSC shares. Wall Street Zen cut ScanSource from a "buy" rating to a "hold" rating in a research note on Saturday. Northcoast Research raised ScanSource from a "neutral" rating to a "buy" rating and set a $42.00 target price on the stock in a report on Tuesday, May 6th.

ScanSource Stock Performance

Shares of NASDAQ SCSC opened at $40.44 on Friday. 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 stock's fifty day moving average price is $36.89 and its two-hundred day moving average price is $40.87. ScanSource, Inc. has a one year low of $28.75 and a one year high of $53.90. The firm has a market cap of $913.78 million, a price-to-earnings ratio of 15.98, a P/E/G ratio of 1.14 and a beta of 1.38.

ScanSource (NASDAQ:SCSC - Get Free Report) last issued its quarterly earnings data on Thursday, May 8th. The industrial products company reported $0.86 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 firm 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 firm posted $0.69 EPS. The company's revenue for the quarter was down 6.3% on a year-over-year basis. On average, equities analysts forecast that ScanSource, Inc. will post 3.33 EPS for the current year.

Insider Activity

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

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.

Want to see what other hedge funds are holding SCSC? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for ScanSource, Inc. (NASDAQ:SCSC - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.