Rhumbline Advisers Boosts Position in ScanSource, Inc. (NASDAQ:SCSC)

Rhumbline Advisers boosted its position in shares of ScanSource, Inc. (NASDAQ:SCSC) by 0.3% during the second quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 85,720 shares of the industrial products company’s stock after purchasing an additional 264 shares during the quarter. Rhumbline Advisers’ holdings in ScanSource were worth $3,798,000 at the end of the most recent reporting period.

A number of other institutional investors also recently bought and sold shares of SCSC. Vanguard Group Inc. lifted its position in shares of ScanSource by 1.2% in the first quarter. Vanguard Group Inc. now owns 3,479,683 shares of the industrial products company’s stock valued at $153,245,000 after acquiring an additional 40,264 shares in the last quarter. Dimensional Fund Advisors LP lifted its position in shares of ScanSource by 1.5% in the fourth quarter. Dimensional Fund Advisors LP now owns 1,934,258 shares of the industrial products company’s stock valued at $76,616,000 after acquiring an additional 27,751 shares in the last quarter. Pzena Investment Management LLC lifted its position in shares of ScanSource by 4.9% in the fourth quarter. Pzena Investment Management LLC now owns 1,893,151 shares of the industrial products company’s stock valued at $74,988,000 after acquiring an additional 89,103 shares in the last quarter. Wasatch Advisors LP lifted its position in shares of ScanSource by 67.9% in the first quarter. Wasatch Advisors LP now owns 1,055,882 shares of the industrial products company’s stock valued at $46,501,000 after acquiring an additional 426,945 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. lifted its position in shares of ScanSource by 1.1% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 627,886 shares of the industrial products company’s stock valued at $24,871,000 after acquiring an additional 7,125 shares in the last quarter. 97.91% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Separately, Raymond James downgraded ScanSource from an “outperform” rating to a “market perform” rating in a research report on Thursday, August 15th.

Insiders Place Their Bets

In other news, CEO Michael L. Baur sold 6,160 shares of the stock in a transaction dated Wednesday, July 3rd. The stock was sold at an average price of $43.67, for a total value of $269,007.20. Following the completion of the sale, the chief executive officer now owns 118,080 shares in the company, valued at $5,156,553.60. The transaction was disclosed in a legal filing with the SEC, which is available through this link. In other news, CEO Michael L. Baur sold 6,160 shares of the stock in a transaction dated Wednesday, July 3rd. The stock was sold at an average price of $43.67, for a total value of $269,007.20. Following the completion of the sale, the chief executive officer now owns 118,080 shares in the company, valued at $5,156,553.60. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, CEO Michael L. Baur sold 34,203 shares of the firm’s stock in a transaction that occurred on Monday, July 8th. The shares were sold at an average price of $42.49, for a total value of $1,453,285.47. Following the sale, the chief executive officer now owns 118,080 shares of the company’s stock, valued at approximately $5,017,219.20. The disclosure for this sale can be found here. Insiders sold 91,151 shares of company stock worth $3,914,760 over the last three months. 4.56% of the stock is owned by insiders.

ScanSource Stock Performance

NASDAQ SCSC opened at $47.08 on Tuesday. The business’s 50-day moving average price is $47.65 and its 200 day moving average price is $45.48. ScanSource, Inc. has a twelve month low of $27.86 and a twelve month high of $53.28. The company has a market capitalization of $1.16 billion, a PE ratio of 14.89, a price-to-earnings-growth ratio of 1.41 and a beta of 1.41. The company has a current ratio of 2.10, a quick ratio of 1.33 and a debt-to-equity ratio of 0.15.

ScanSource (NASDAQ:SCSC) last announced its quarterly earnings results on Tuesday, August 27th. The industrial products company reported $0.80 EPS for the quarter, missing the consensus estimate of $0.93 by ($0.13). The firm had revenue of $746.11 million for the quarter, compared to analyst estimates of $838.60 million. ScanSource had a return on equity of 8.32% and a net margin of 2.36%. The business’s revenue was down 21.2% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.76 earnings per share. On average, research analysts predict that ScanSource, Inc. will post 3.24 earnings per share for the current year.

ScanSource Company 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.