Steward Partners Investment Advisory LLC Invests $45,000 in ScanSource, Inc. (NASDAQ:SCSC)

Steward Partners Investment Advisory LLC purchased a new position in ScanSource, Inc. (NASDAQ:SCSCGet Rating) during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 1,300 shares of the industrial products company’s stock, valued at approximately $45,000.

Several other hedge funds and other institutional investors have also recently modified their holdings of SCSC. Advisor Group Holdings Inc. increased its holdings in ScanSource by 153.8% during the 4th quarter. Advisor Group Holdings Inc. now owns 1,594 shares of the industrial products company’s stock worth $56,000 after purchasing an additional 966 shares during the period. Pinebridge Investments L.P. purchased a new position in ScanSource during the 4th quarter worth $70,000. Dixon Hughes Goodman Wealth Advisors LLC purchased a new position in ScanSource during the 1st quarter worth $94,000. ProShare Advisors LLC purchased a new position in ScanSource during the 4th quarter worth $220,000. Finally, Inspire Investing LLC purchased a new position in shares of ScanSource in the 1st quarter valued at $235,000. 95.98% of the stock is currently owned by hedge funds and other institutional investors.

Insider Transactions at ScanSource

In other news, Director Charles R. Whitchurch sold 2,000 shares of the firm’s stock in a transaction on Thursday, May 26th. The stock was sold at an average price of $38.67, for a total value of $77,340.00. Following the completion of the sale, the director now owns 17,500 shares of the company’s stock, valued at approximately $676,725. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other ScanSource news, CEO Michael L. Baur sold 1,800 shares of ScanSource stock in a transaction dated Wednesday, June 8th. The stock was sold at an average price of $38.74, for a total transaction of $69,732.00. Following the completion of the sale, the chief executive officer now owns 79,192 shares of the company’s stock, valued at approximately $3,067,898.08. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Director Charles R. Whitchurch sold 2,000 shares of ScanSource stock in a transaction dated Thursday, May 26th. The stock was sold at an average price of $38.67, for a total value of $77,340.00. Following the sale, the director now directly owns 17,500 shares of the company’s stock, valued at approximately $676,725. The disclosure for this sale can be found here. Insiders sold 5,800 shares of company stock valued at $220,372 in the last quarter. 3.56% of the stock is currently owned by corporate insiders.

ScanSource Trading Down 2.9 %

Shares of NASDAQ:SCSC opened at $31.47 on Friday. ScanSource, Inc. has a 12-month low of $26.74 and a 12-month high of $41.01. The business’s fifty day simple moving average is $33.21 and its 200-day simple moving average is $33.50. The company has a market capitalization of $794.05 million, a PE ratio of 8.77 and a beta of 1.43. The company has a current ratio of 1.76, a quick ratio of 1.02 and a debt-to-equity ratio of 0.21.

ScanSource (NASDAQ:SCSCGet Rating) last posted its quarterly earnings data on Tuesday, May 10th. The industrial products company reported $1.04 earnings per share for the quarter, topping analysts’ consensus estimates of $0.69 by $0.35. The firm had revenue of $846.00 million during the quarter, compared to analysts’ expectations of $764.20 million. ScanSource had a return on equity of 13.55% and a net margin of 2.71%. The business’s quarterly revenue was up 15.9% on a year-over-year basis. During the same quarter last year, the firm earned $0.71 EPS. As a group, equities research analysts predict that ScanSource, Inc. will post 4 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Separately, StockNews.com upgraded ScanSource from a “hold” rating to a “buy” rating in a report on Friday, April 15th.

ScanSource Profile

(Get Rating)

ScanSource, Inc distributes technology products and solutions in the United States, Canada, and internationally. It operates in two segments, Worldwide Barcode, Networking & Security; and Worldwide Communications & Services. The Worldwide Barcode, Networking & Security 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.

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Institutional Ownership by Quarter for ScanSource (NASDAQ:SCSC)

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