Raymond James & Associates Buys New Holdings in ScanSource, Inc. (NASDAQ:SCSC)

Raymond James & Associates bought a new position in ScanSource, Inc. (NASDAQ:SCSC - Free Report) in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund bought 44,143 shares of the industrial products company's stock, valued at approximately $1,748,000. Raymond James & Associates owned about 0.18% of ScanSource at the end of the most recent quarter.

A number of other institutional investors also recently modified their holdings of the stock. Vanguard Group Inc. raised its stake in shares of ScanSource by 4.0% in the third quarter. Vanguard Group Inc. now owns 3,029,094 shares of the industrial products company's stock worth $79,998,000 after acquiring an additional 115,678 shares during the last quarter. Dimensional Fund Advisors LP raised its stake in shares of ScanSource by 2.5% during the first quarter. Dimensional Fund Advisors LP now owns 1,890,794 shares of the industrial products company's stock worth $65,780,000 after buying an additional 45,378 shares during the last quarter. Pzena Investment Management LLC raised its stake in shares of ScanSource by 7.2% during the third quarter. Pzena Investment Management LLC now owns 1,804,048 shares of the industrial products company's stock worth $54,681,000 after buying an additional 120,721 shares during the last quarter. State Street Corp raised its stake in shares of ScanSource by 0.3% during the second quarter. State Street Corp now owns 997,741 shares of the industrial products company's stock worth $31,070,000 after buying an additional 2,549 shares during the last quarter. Finally, Invesco Ltd. raised its stake in shares of ScanSource by 3.8% during the third quarter. Invesco Ltd. now owns 646,495 shares of the industrial products company's stock worth $19,595,000 after buying an additional 23,807 shares during the last quarter. 97.91% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Separately, StockNews.com cut shares of ScanSource from a "buy" rating to a "hold" rating in a report on Wednesday, December 20th.

ScanSource Trading Up 1.0 %

NASDAQ SCSC traded up $0.42 during trading on Thursday, reaching $40.50. 211,747 shares of the stock traded hands, compared to its average volume of 203,379. The firm has a market cap of $1.02 billion, a price-to-earnings ratio of 11.64, a price-to-earnings-growth ratio of 1.19 and a beta of 1.51. The stock's 50-day moving average price is $42.23 and its 200 day moving average price is $37.64. The company has a quick ratio of 1.36, a current ratio of 2.30 and a debt-to-equity ratio of 0.17. ScanSource, Inc. has a fifty-two week low of $26.14 and a fifty-two week high of $45.10.

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

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.