Louisiana State Employees Retirement System Trims Stake in ScanSource, Inc. (NASDAQ:SCSC)

Louisiana State Employees Retirement System lowered its position in ScanSource, Inc. (NASDAQ:SCSC) by 11.3% in the 3rd quarter, according to its most recent 13F filing with the SEC. The firm owned 11,000 shares of the industrial products company’s stock after selling 1,400 shares during the period. Louisiana State Employees Retirement System’s holdings in ScanSource were worth $528,000 at the end of the most recent quarter.

Other hedge funds also recently bought and sold shares of the company. CWM LLC boosted its holdings in ScanSource by 164.1% in the 2nd quarter. CWM LLC now owns 647 shares of the industrial products company’s stock worth $29,000 after buying an additional 402 shares during the period. nVerses Capital LLC bought a new position in ScanSource in the 2nd quarter worth $40,000. Quest Partners LLC bought a new position in ScanSource in the 2nd quarter worth $41,000. Innealta Capital LLC bought a new position in ScanSource in the 2nd quarter worth $58,000. Finally, SG Americas Securities LLC bought a new position in ScanSource in the 1st quarter worth $128,000. Institutional investors own 97.91% of the company’s stock.

ScanSource Stock Up 1.0 %

SCSC opened at $44.61 on Wednesday. The firm has a 50-day simple moving average of $47.27 and a two-hundred day simple moving average of $46.64. ScanSource, Inc. has a 52 week low of $27.86 and a 52 week high of $53.28. The company has a market capitalization of $1.07 billion, a PE ratio of 14.67, a price-to-earnings-growth ratio of 1.34 and a beta of 1.42. The company has a quick ratio of 1.33, a current ratio of 2.10 and a debt-to-equity ratio of 0.15.

ScanSource (NASDAQ:SCSC) last released its quarterly earnings data on Tuesday, August 27th. The industrial products company reported $0.80 EPS for the quarter, missing the consensus estimate of $0.93 by ($0.13). ScanSource had a net margin of 2.36% and a return on equity of 8.32%. The company had revenue of $746.11 million for the quarter, compared to the consensus estimate of $838.60 million. During the same period last year, the company earned $0.76 EPS. The firm’s revenue for the quarter was down 21.2% on a year-over-year basis. Analysts forecast that ScanSource, Inc. will post 3.24 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Separately, Raymond James downgraded shares of ScanSource from an “outperform” rating to a “market perform” rating in a report on Thursday, August 15th.

About ScanSource

ScanSource, Inc engages in the distribution of technology products and solutions in the United States, Canada, and Brazil. 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.