Systematic Financial Management LP Buys Shares of 47,885 ScanSource Inc. (SCSC)
Systematic Financial Management LP bought a new position in ScanSource Inc. (NASDAQ:SCSC) during the second quarter, Holdings Channel reports. The institutional investor bought 47,885 shares of the company’s stock, valued at approximately $1,777,000. Systematic Financial Management LP owned 0.19% of ScanSource at the end of the most recent reporting period.
Several other hedge funds also recently modified their holdings of the company. Blair William & Co. IL increased its stake in shares of ScanSource by 0.7% in the second quarter. Blair William & Co. IL now owns 6,908 shares of the company’s stock worth $256,000 after buying an additional 50 shares during the period. Arizona State Retirement System boosted its position in ScanSource by 0.8% in the first quarter. Arizona State Retirement System now owns 13,382 shares of the company’s stock worth $540,000 after buying an additional 100 shares in the last quarter. Los Angeles Capital Management & Equity Research Inc. boosted its position in ScanSource by 0.6% in the first quarter. Los Angeles Capital Management & Equity Research Inc. now owns 22,131 shares of the company’s stock worth $894,000 after buying an additional 125 shares in the last quarter. Strs Ohio boosted its position in ScanSource by 1.8% in the second quarter. Strs Ohio now owns 22,200 shares of the company’s stock worth $823,000 after buying an additional 400 shares in the last quarter. Finally, Teacher Retirement System of Texas boosted its position in ScanSource by 13.6% in the second quarter. Teacher Retirement System of Texas now owns 3,740 shares of the company’s stock worth $139,000 after buying an additional 447 shares in the last quarter. 96.91% of the stock is owned by institutional investors and hedge funds.
Shares of ScanSource Inc. (NASDAQ:SCSC) traded up 1.16% during trading on Thursday, reaching $36.49. The company had a trading volume of 46,873 shares. The firm has a market capitalization of $935.06 million, a price-to-earnings ratio of 15.33 and a beta of 1.19. ScanSource Inc. has a 52 week low of $27.46 and a 52 week high of $43.49. The firm has a 50-day moving average of $39.00 and a 200 day moving average of $39.28.
ScanSource (NASDAQ:SCSC) last released its earnings results on Monday, August 29th. The company reported $0.51 EPS for the quarter, missing analysts’ consensus estimates of $0.71 by $0.20. ScanSource had a return on equity of 9.47% and a net margin of 1.80%. The firm had revenue of $887.50 million for the quarter. During the same quarter in the previous year, the company posted $0.66 earnings per share. The firm’s revenue was up 3.6% compared to the same quarter last year. On average, equities research analysts forecast that ScanSource Inc. will post $2.89 earnings per share for the current year.
A number of equities analysts have recently weighed in on SCSC shares. Raymond James Financial Inc. lowered their price target on ScanSource from $44.00 to $42.00 and set an “outperform” rating for the company in a report on Tuesday, August 30th. Zacks Investment Research upgraded ScanSource from a “sell” rating to a “hold” rating in a report on Tuesday, August 23rd.
ScanSource, Inc is a wholesale distributor of specialty technology products. The Company and its subsidiaries provide distribution services for technology manufacturers and sells to resellers in the specialty technology markets, such as point-of-sale (POS) and barcode, physical security and three dimensional (3D) printing and communications.
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