Victory Capital Management Inc. Trims Holdings in ScanSource, Inc. (NASDAQ:SCSC)

Victory Capital Management Inc. reduced its stake in shares of ScanSource, Inc. (NASDAQ:SCSC) by 10.8% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 1,745,396 shares of the industrial products company’s stock after selling 211,162 shares during the quarter. Victory Capital Management Inc. owned approximately 6.95% of ScanSource worth $69,135,000 at the end of the most recent quarter.

A number of other hedge funds have also recently made changes to their positions in SCSC. Gladius Capital Management LP purchased a new stake in ScanSource in the 3rd quarter valued at about $36,000. GAMMA Investing LLC bought a new stake in shares of ScanSource during the fourth quarter valued at approximately $46,000. Zurcher Kantonalbank Zurich Cantonalbank boosted its holdings in shares of ScanSource by 23.3% in the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 5,473 shares of the industrial products company’s stock valued at $166,000 after purchasing an additional 1,034 shares during the period. Bailard Inc. bought a new position in ScanSource in the third quarter worth approximately $215,000. Finally, EMC Capital Management increased its holdings in ScanSource by 3,872.8% during the 3rd quarter. EMC Capital Management now owns 7,151 shares of the industrial products company’s stock worth $217,000 after purchasing an additional 6,971 shares during the period. 97.91% of the stock is currently owned by institutional investors.

ScanSource Stock Performance

SCSC stock opened at $42.87 on Friday. ScanSource, Inc. has a 1-year low of $26.14 and a 1-year high of $45.10. The business has a 50-day moving average price of $42.41 and a 200 day moving average price of $38.44. The company has a market capitalization of $1.08 billion, a P/E ratio of 12.32, a PEG ratio of 1.25 and a beta of 1.51. The company has a debt-to-equity ratio of 0.17, a current ratio of 2.30 and a quick ratio of 1.36.

ScanSource (NASDAQ:SCSC) last posted its quarterly earnings results on Tuesday, February 6th. The industrial products company reported $0.85 EPS for the quarter, missing the consensus estimate of $0.99 by ($0.14). ScanSource had a net margin of 2.45% and a return on equity of 9.18%. The business had revenue of $884.79 million during the quarter, compared to the consensus estimate of $943.10 million. During the same quarter in the prior year, the firm posted $1.06 EPS. The company’s revenue for the quarter was down 12.5% compared to the same quarter last year. As a group, equities research analysts forecast that ScanSource, Inc. will post 3.39 EPS for the current fiscal year.

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.