Royal Bank of Canada lowered its position in ScanSource, Inc. (NASDAQ:SCSC) by 1.3% during the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 558,568 shares of the industrial products company’s stock after selling 7,263 shares during the period. Royal Bank of Canada owned approximately 2.21% of ScanSource worth $22,510,000 as of its most recent SEC filing.

Other institutional investors have also recently modified their holdings of the company. Victory Capital Management Inc. grew its position in ScanSource by 17.6% during the 2nd quarter. Victory Capital Management Inc. now owns 2,974 shares of the industrial products company’s stock worth $120,000 after purchasing an additional 446 shares during the last quarter. SG Americas Securities LLC grew its position in ScanSource by 0.3% during the 1st quarter. SG Americas Securities LLC now owns 4,259 shares of the industrial products company’s stock worth $167,000 after purchasing an additional 14 shares during the last quarter. State of Alaska Department of Revenue grew its position in ScanSource by 79.1% during the 2nd quarter. State of Alaska Department of Revenue now owns 4,996 shares of the industrial products company’s stock worth $201,000 after purchasing an additional 2,206 shares during the last quarter. CHICAGO TRUST Co NA purchased a new stake in ScanSource during the 2nd quarter worth approximately $218,000. Finally, Mason Street Advisors LLC grew its position in ScanSource by 7.4% during the 1st quarter. Mason Street Advisors LLC now owns 5,905 shares of the industrial products company’s stock worth $232,000 after purchasing an additional 409 shares during the last quarter. 93.98% of the stock is currently owned by hedge funds and other institutional investors.

In other news, CEO Michael L. Baur sold 17,621 shares of the firm’s stock in a transaction that occurred on Thursday, October 5th. The shares were sold at an average price of $44.32, for a total transaction of $780,962.72. Following the transaction, the chief executive officer now directly owns 35,209 shares in the company, valued at $1,560,462.88. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Director John Patrick Reilly sold 5,000 shares of the firm’s stock in a transaction that occurred on Monday, September 18th. The stock was sold at an average price of $40.70, for a total transaction of $203,500.00. Following the transaction, the director now owns 16,900 shares in the company, valued at $687,830. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 90,397 shares of company stock worth $3,959,574. Insiders own 3.03% of the company’s stock.

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Shares of ScanSource, Inc. (SCSC) opened at 44.25 on Wednesday. The stock has a market cap of $1.13 billion, a P/E ratio of 16.33 and a beta of 1.16. The firm’s 50-day moving average is $40.31 and its 200 day moving average is $39.35. ScanSource, Inc. has a 52-week low of $29.05 and a 52-week high of $44.95.

ScanSource (NASDAQ:SCSC) last announced its earnings results on Tuesday, August 29th. The industrial products company reported $0.68 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.68. The business had revenue of $917.30 million for the quarter, compared to analyst estimates of $894.17 million. ScanSource had a net margin of 1.94% and a return on equity of 8.76%. The company’s revenue for the quarter was up 4.5% compared to the same quarter last year. During the same period last year, the firm posted $0.51 earnings per share. Analysts forecast that ScanSource, Inc. will post $3.07 earnings per share for the current fiscal year.

Several analysts have weighed in on the stock. Northcoast Research downgraded shares of ScanSource from a “buy” rating to a “neutral” rating in a research report on Monday, October 2nd. Zacks Investment Research downgraded shares of ScanSource from a “buy” rating to a “hold” rating in a research report on Tuesday, September 5th. ValuEngine raised shares of ScanSource from a “hold” rating to a “buy” rating in a research report on Friday, September 1st. Finally, BidaskClub downgraded shares of ScanSource from a “sell” rating to a “strong sell” rating in a research report on Tuesday, August 8th. One analyst has rated the stock with a sell rating, three have issued a hold rating and two have assigned a buy rating to the company. The company currently has an average rating of “Hold” and an average price target of $45.75.

ScanSource Company Profile

ScanSource, Inc is a provider of technology products and solutions. The Company and its subsidiaries provide solutions for technology manufacturers and sell to resellers in technology markets, such as point-of-sale (POS) and Barcode, Networking and Security, Communications and Emerging Technologies. It operates through two segments: Worldwide Barcode & Security and Worldwide Communications & Services.

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Institutional Ownership by Quarter for ScanSource (NASDAQ:SCSC)

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