Vanguard Group Inc. Sells 25,237 Shares of ScanSource, Inc. (NASDAQ:SCSC)

Vanguard Group Inc. cut its holdings in shares of ScanSource, Inc. (NASDAQ:SCSC - Free Report) by 0.7% in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 3,441,481 shares of the industrial products company's stock after selling 25,237 shares during the quarter. Vanguard Group Inc. owned about 13.70% of ScanSource worth $104,311,000 as of its most recent SEC filing.

A number of other large investors also recently modified their holdings of SCSC. Point72 Hong Kong Ltd bought a new stake in shares of ScanSource during the second quarter valued at approximately $27,000. Gladius Capital Management LP bought a new stake in shares of ScanSource during the third quarter valued at approximately $37,000. Tower Research Capital LLC TRC increased its position in shares of ScanSource by 108.3% during the first quarter. Tower Research Capital LLC TRC now owns 1,356 shares of the industrial products company's stock valued at $42,000 after purchasing an additional 705 shares during the period. UBS Group AG increased its position in shares of ScanSource by 1,200.6% during the third quarter. UBS Group AG now owns 2,055 shares of the industrial products company's stock valued at $54,000 after purchasing an additional 1,897 shares during the period. Finally, Royal Bank of Canada increased its position in shares of ScanSource by 80.7% during the second quarter. Royal Bank of Canada now owns 2,902 shares of the industrial products company's stock valued at $86,000 after purchasing an additional 1,296 shares during the period. 97.91% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of brokerages have weighed in on SCSC. StockNews.com cut ScanSource from a "buy" rating to a "hold" rating in a research report on Wednesday, December 20th. Northcoast Research cut ScanSource from a "buy" rating to a "neutral" rating and set a $36.00 price target on the stock. in a research report on Tuesday, December 19th.

ScanSource Trading Down 2.6 %

Shares of NASDAQ:SCSC traded down $1.11 during midday trading on Friday, hitting $41.58. The company had a trading volume of 205,469 shares, compared to its average volume of 201,227. ScanSource, Inc. has a 12 month low of $26.14 and a 12 month high of $45.10. The company has a current ratio of 2.30, a quick ratio of 1.36 and a debt-to-equity ratio of 0.17. The stock has a market cap of $1.05 billion, a price-to-earnings ratio of 12.27, a PEG ratio of 1.27 and a beta of 1.51. The firm has a fifty day simple moving average of $41.81 and a 200 day simple moving average of $36.89.

ScanSource (NASDAQ:SCSC - Get Free Report) last posted its earnings results on Tuesday, February 6th. The industrial products company reported $0.85 earnings per share for the quarter, missing the consensus estimate of $0.99 by ($0.14). The business had revenue of $884.79 million for the quarter, compared to the consensus estimate of $943.10 million. ScanSource had a return on equity of 9.18% and a net margin of 2.45%. The business's revenue was down 12.5% on a year-over-year basis. During the same quarter in the prior year, the firm posted $1.06 earnings per share. On average, analysts predict that ScanSource, Inc. will post 3.39 EPS for the current year.

Insider Activity

In related news, CEO Michael L. Baur sold 30,677 shares of ScanSource stock in a transaction dated Wednesday, January 10th. The stock was sold at an average price of $37.99, for a total value of $1,165,419.23. Following the sale, the chief executive officer now owns 127,133 shares of the company's stock, valued at $4,829,782.67. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Corporate insiders own 4.56% of the company's stock.

ScanSource Profile

ScanSource, Inc distributes technology products and solutions in the United States, Canada, and internationally. 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.