Quest Partners LLC Invests $367,000 in ScanSource, Inc. (NASDAQ:SCSC)

Quest Partners LLC purchased a new position in ScanSource, Inc. (NASDAQ:SCSC) during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 9,255 shares of the industrial products company’s stock, valued at approximately $367,000.

Several other hedge funds and other institutional investors have also recently modified their holdings of SCSC. Charles Schwab Investment Management Inc. boosted its holdings in ScanSource by 3.9% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 620,761 shares of the industrial products company’s stock valued at $18,815,000 after purchasing an additional 23,343 shares during the last quarter. Campbell & CO Investment Adviser LLC lifted its holdings in shares of ScanSource by 53.7% in the 3rd quarter. Campbell & CO Investment Adviser LLC now owns 43,974 shares of the industrial products company’s stock worth $1,333,000 after acquiring an additional 15,372 shares during the last quarter. Raymond James & Associates acquired a new position in shares of ScanSource in the 4th quarter worth approximately $1,748,000. Connor Clark & Lunn Investment Management Ltd. lifted its holdings in shares of ScanSource by 43.4% in the 3rd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 53,052 shares of the industrial products company’s stock worth $1,608,000 after acquiring an additional 16,064 shares during the last quarter. Finally, First Hawaiian Bank lifted its holdings in shares of ScanSource by 13.7% in the 4th quarter. First Hawaiian Bank now owns 21,321 shares of the industrial products company’s stock worth $845,000 after acquiring an additional 2,574 shares during the last quarter. 97.91% of the stock is owned by hedge funds and other institutional investors.

ScanSource Trading Up 0.0 %

Shares of SCSC stock traded up $0.01 during trading hours on Friday, hitting $49.63. The company had a trading volume of 213,055 shares, compared to its average volume of 197,254. The company’s fifty day moving average is $43.93 and its 200 day moving average is $40.21. The company has a debt-to-equity ratio of 0.15, a current ratio of 2.20 and a quick ratio of 1.38. ScanSource, Inc. has a fifty-two week low of $26.99 and a fifty-two week high of $50.95. The stock has a market capitalization of $1.23 billion, a PE ratio of 15.76, a price-to-earnings-growth ratio of 1.50 and a beta of 1.51.

ScanSource (NASDAQ:SCSC) last announced its earnings results on Tuesday, May 7th. The industrial products company reported $0.69 earnings per share for the quarter, missing the consensus estimate of $0.84 by ($0.15). ScanSource had a return on equity of 8.28% and a net margin of 2.31%. The business had revenue of $752.60 million for the quarter, compared to analysts’ expectations of $822.10 million. During the same period in the previous year, the company earned $0.96 earnings per share. ScanSource’s quarterly revenue was down 15.0% on a year-over-year basis. Research analysts expect that ScanSource, Inc. will post 3.31 earnings per share for the current fiscal year.

Insider Buying and Selling

In other ScanSource news, Director Peter C. Browning sold 7,490 shares of the stock in a transaction that occurred on Friday, May 10th. The shares were sold at an average price of $46.44, for a total value of $347,835.60. Following the sale, the director now directly owns 22,759 shares of the company’s stock, valued at approximately $1,056,927.96. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. In other news, CAO Brandy Ford sold 1,253 shares of the company’s stock in a transaction on Friday, May 10th. The shares were sold at an average price of $47.26, for a total value of $59,216.78. Following the completion of the transaction, the chief accounting officer now owns 9,219 shares in the company, valued at approximately $435,689.94. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, Director Peter C. Browning sold 7,490 shares of the company’s stock in a transaction on Friday, May 10th. The shares were sold at an average price of $46.44, for a total transaction of $347,835.60. Following the completion of the transaction, the director now owns 22,759 shares of the company’s stock, valued at approximately $1,056,927.96. The disclosure for this sale can be found here. Insiders have sold a total of 9,743 shares of company stock valued at $454,202 in the last ninety days. Company insiders own 4.56% of the company’s stock.

ScanSource 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.