Northern Trust Corp Increases Position in ScanSource, Inc. (NASDAQ:SCSC)

Northern Trust Corp grew its holdings in shares of ScanSource, Inc. (NASDAQ:SCSC - Free Report) by 7.9% in the 4th quarter, according to its most recent disclosure with the SEC. The fund owned 273,594 shares of the industrial products company's stock after purchasing an additional 19,984 shares during the period. Northern Trust Corp owned approximately 1.17% of ScanSource worth $12,982,000 as of its most recent SEC filing.

Several other large investors have also recently made changes to their positions in SCSC. Tudor Investment Corp ET AL raised its holdings in ScanSource by 190.5% in the 4th quarter. Tudor Investment Corp ET AL now owns 84,101 shares of the industrial products company's stock worth $3,991,000 after acquiring an additional 55,150 shares during the last quarter. Quarry LP raised its holdings in ScanSource by 948.7% in the 4th quarter. Quarry LP now owns 797 shares of the industrial products company's stock worth $38,000 after acquiring an additional 721 shares during the last quarter. Two Sigma Securities LLC purchased a new position in ScanSource in the 4th quarter worth approximately $304,000. Price T Rowe Associates Inc. MD grew its position in ScanSource by 11.8% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 12,897 shares of the industrial products company's stock worth $612,000 after purchasing an additional 1,358 shares during the period. Finally, Susquehanna International Group LLP grew its position in ScanSource by 59.1% in the 4th quarter. Susquehanna International Group LLP now owns 46,837 shares of the industrial products company's stock worth $2,222,000 after purchasing an additional 17,406 shares during the period. 97.91% of the stock is currently owned by hedge funds and other institutional investors.

ScanSource Stock Performance

SCSC traded down $0.31 during midday trading on Monday, reaching $40.48. The company had a trading volume of 121,609 shares, compared to its average volume of 233,770. The company has a quick ratio of 1.30, a current ratio of 2.11 and a debt-to-equity ratio of 0.15. The business has a 50-day moving average of $34.44 and a two-hundred day moving average of $41.96. The company has a market cap of $914.69 million, a P/E ratio of 16.00, a P/E/G ratio of 1.14 and a beta of 1.30. ScanSource, Inc. has a 1 year low of $28.75 and a 1 year high of $53.90.

ScanSource (NASDAQ:SCSC - Get Free Report) last issued its quarterly earnings results on Thursday, May 8th. The industrial products company reported $0.86 EPS for the quarter, topping analysts' consensus estimates of $0.77 by $0.09. The business had revenue of $704.23 million during the quarter, compared to analysts' expectations of $809.17 million. ScanSource had a return on equity of 8.55% and a net margin of 2.08%. The business's quarterly revenue was down 6.3% on a year-over-year basis. During the same quarter in the prior year, the business posted $0.69 earnings per share. As a group, equities research analysts predict that ScanSource, Inc. will post 3.33 earnings per share for the current fiscal year.

Insider Transactions at ScanSource

In related news, CFO Stephen Jones sold 2,000 shares of the stock in a transaction that occurred 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 transaction, the chief financial officer now directly owns 69,816 shares of the company's stock, valued at approximately $2,523,150.24. This represents a 2.78% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Corporate insiders own 4.20% of the company's stock.

Analyst Upgrades and Downgrades

A number of research firms have commented on SCSC. StockNews.com raised 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 target price for the company in a research report on Tuesday, May 6th.

ScanSource Company Profile

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.