ScanSource, Inc. $SCSC Stock Holdings Lessened by Tudor Investment Corp ET AL

Tudor Investment Corp ET AL cut its holdings in ScanSource, Inc. (NASDAQ:SCSC) by 16.0% in the 3rd quarter, according to its most recent 13F filing with the SEC. The firm owned 113,454 shares of the industrial products company’s stock after selling 21,602 shares during the period. Tudor Investment Corp ET AL’s holdings in ScanSource were worth $4,991,000 as of its most recent filing with the SEC.

A number of other institutional investors have also modified their holdings of the business. Jacobs Levy Equity Management Inc. raised its stake in ScanSource by 65.6% during the third quarter. Jacobs Levy Equity Management Inc. now owns 389,915 shares of the industrial products company’s stock worth $17,152,000 after acquiring an additional 154,518 shares during the period. CANADA LIFE ASSURANCE Co boosted its stake in ScanSource by 7.2% in the third quarter. CANADA LIFE ASSURANCE Co now owns 19,168 shares of the industrial products company’s stock valued at $845,000 after acquiring an additional 1,291 shares during the period. Wasatch Advisors LP boosted its stake in ScanSource by 34.9% in the third quarter. Wasatch Advisors LP now owns 1,139,573 shares of the industrial products company’s stock valued at $50,130,000 after acquiring an additional 294,624 shares during the period. Verition Fund Management LLC grew its holdings in shares of ScanSource by 37.4% during the third quarter. Verition Fund Management LLC now owns 41,725 shares of the industrial products company’s stock valued at $1,835,000 after purchasing an additional 11,368 shares during the last quarter. Finally, Polymer Capital Management US LLC bought a new position in shares of ScanSource during the third quarter valued at approximately $356,000. Institutional investors own 97.91% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts recently issued reports on the company. Zacks Research downgraded ScanSource from a “hold” rating to a “strong sell” rating in a report on Monday, February 9th. Wall Street Zen downgraded ScanSource from a “buy” rating to a “hold” rating in a research note on Saturday, January 17th. Finally, Weiss Ratings reaffirmed a “hold (c)” rating on shares of ScanSource in a research report on Monday, December 29th. One equities research analyst has rated the stock with a Buy rating, two have given a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target of $42.50.

Insider Activity at ScanSource

In related news, CEO Michael L. Baur sold 3,827 shares of the firm’s stock in a transaction that occurred on Monday, March 16th. The stock was sold at an average price of $35.89, for a total value of $137,351.03. Following the sale, the chief executive officer directly owned 157,512 shares in the company, valued at $5,653,105.68. This trade represents a 2.37% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Charles Alexander Mathis bought 6,000 shares of the business’s stock in a transaction on Wednesday, February 11th. The shares were acquired at an average cost of $35.20 per share, for a total transaction of $211,200.00. Following the purchase, the director directly owned 24,793 shares in the company, valued at $872,713.60. This represents a 31.93% increase in their ownership of the stock. Additional details regarding this purchase are available in the official SEC disclosure. 3.18% of the stock is owned by company insiders.

ScanSource Price Performance

NASDAQ SCSC opened at $36.76 on Thursday. ScanSource, Inc. has a 52 week low of $28.75 and a 52 week high of $46.25. The company has a current ratio of 1.96, a quick ratio of 1.22 and a debt-to-equity ratio of 0.11. The stock has a market cap of $789.60 million, a price-to-earnings ratio of 11.28, a price-to-earnings-growth ratio of 0.62 and a beta of 1.29. The company has a 50-day moving average price of $38.01 and a two-hundred day moving average price of $40.41.

ScanSource (NASDAQ:SCSC) last announced its quarterly earnings results on Thursday, February 5th. The industrial products company reported $0.80 EPS for the quarter, missing the consensus estimate of $1.00 by ($0.20). The firm had revenue of $766.51 million during the quarter, compared to analyst estimates of $782.46 million. ScanSource had a net margin of 2.44% and a return on equity of 9.35%. ScanSource’s revenue for the quarter was up 2.5% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.85 EPS. Analysts forecast that ScanSource, Inc. will post 3.33 EPS for the current year.

ScanSource Profile

ScanSource, Inc is a global provider of technology products and solutions designed to help businesses enhance operational efficiency and customer engagement. The company specializes in the distribution of point-of-sale (POS) systems, barcode and data capture devices, networking and communications equipment, and value-added software and cloud services. By combining hardware, software and professional services, ScanSource supports channel partners in delivering end-to-end solutions across multiple industries, including retail, hospitality, healthcare and logistics.

Founded in 1992 and headquartered in Greenville, South Carolina, ScanSource has built a broad international footprint, serving customers throughout North, Central and South America as well as Europe, the Middle East and Africa.