Peregrine Capital Management LLC Has $8.68 Million Stake in ScanSource, Inc. (NASDAQ:SCSC)

Peregrine Capital Management LLC decreased its position in ScanSource, Inc. (NASDAQ:SCSC - Free Report) by 24.8% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 219,207 shares of the industrial products company's stock after selling 72,320 shares during the quarter. Peregrine Capital Management LLC owned 0.87% of ScanSource worth $8,683,000 at the end of the most recent quarter.

Several other large investors also recently bought and sold shares of SCSC. American Century Companies Inc. grew its position in ScanSource by 29.9% in the first quarter. American Century Companies Inc. now owns 54,131 shares of the industrial products company's stock valued at $1,883,000 after acquiring an additional 12,458 shares in the last quarter. MetLife Investment Management LLC grew its position in shares of ScanSource by 59.0% during the first quarter. MetLife Investment Management LLC now owns 12,881 shares of the industrial products company's stock worth $448,000 after buying an additional 4,780 shares in the last quarter. Panagora Asset Management Inc. grew its position in shares of ScanSource by 113.6% during the first quarter. Panagora Asset Management Inc. now owns 50,128 shares of the industrial products company's stock worth $1,744,000 after buying an additional 26,657 shares in the last quarter. Rhumbline Advisers grew its position in shares of ScanSource by 1.2% during the first quarter. Rhumbline Advisers now owns 77,437 shares of the industrial products company's stock worth $2,694,000 after buying an additional 948 shares in the last quarter. Finally, Commonwealth of Pennsylvania Public School Empls Retrmt SYS grew its position in shares of ScanSource by 14.4% during the first quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 22,073 shares of the industrial products company's stock worth $768,000 after buying an additional 2,777 shares in the last quarter. Institutional investors and hedge funds own 97.91% of the company's stock.

ScanSource Price Performance

ScanSource stock traded down $1.01 during midday trading on Wednesday, hitting $40.58. The company's stock had a trading volume of 244,358 shares, compared to its average volume of 201,179. The company has a quick ratio of 1.36, a current ratio of 2.30 and a debt-to-equity ratio of 0.17. The stock's 50-day moving average price is $41.95 and its 200-day moving average price is $37.25. ScanSource, Inc. has a 12 month low of $26.14 and a 12 month high of $45.10. The company has a market capitalization of $1.02 billion, a PE ratio of 11.66, a price-to-earnings-growth ratio of 1.23 and a beta of 1.51.

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

Analysts Set New Price Targets

SCSC has been the subject of several research analyst reports. Northcoast Research downgraded shares of ScanSource from a "buy" rating to a "neutral" rating and set a $36.00 price objective for the company. in a report on Tuesday, December 19th. StockNews.com downgraded shares of ScanSource from a "buy" rating to a "hold" rating in a report on Wednesday, December 20th.

About ScanSource

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.