Janney Montgomery Scott LLC Acquires New Position in ScanSource, Inc. (NASDAQ:SCSC)

Janney Montgomery Scott LLC acquired a new stake in shares of ScanSource, Inc. (NASDAQ:SCSC) in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm acquired 34,860 shares of the industrial products company’s stock, valued at approximately $1,674,000. Janney Montgomery Scott LLC owned about 0.15% of ScanSource at the end of the most recent quarter.

Several other institutional investors have also made changes to their positions in the company. Allspring Global Investments Holdings LLC raised its holdings in ScanSource by 2,564.5% in the 1st quarter. Allspring Global Investments Holdings LLC now owns 7,514 shares of the industrial products company’s stock valued at $331,000 after acquiring an additional 7,232 shares in the last quarter. BNP Paribas Financial Markets grew its holdings in shares of ScanSource by 37.2% during the 1st quarter. BNP Paribas Financial Markets now owns 16,804 shares of the industrial products company’s stock worth $740,000 after purchasing an additional 4,555 shares in the last quarter. Texas Permanent School Fund Corp grew its stake in ScanSource by 2.1% during the first quarter. Texas Permanent School Fund Corp now owns 22,029 shares of the industrial products company’s stock worth $970,000 after buying an additional 461 shares in the last quarter. SG Americas Securities LLC acquired a new stake in shares of ScanSource during the 1st quarter worth approximately $128,000. Finally, Swiss National Bank boosted its holdings in shares of ScanSource by 1.2% in the 1st quarter. Swiss National Bank now owns 49,600 shares of the industrial products company’s stock valued at $2,184,000 after purchasing an additional 600 shares in the last quarter. 97.91% of the stock is currently owned by institutional investors and hedge funds.

ScanSource Stock Performance

ScanSource stock opened at $49.31 on Thursday. ScanSource, Inc. has a 1-year low of $31.01 and a 1-year high of $53.76. The company has a current ratio of 2.03, a quick ratio of 1.27 and a debt-to-equity ratio of 0.15. The firm has a market capitalization of $1.17 billion, a PE ratio of 15.80, a price-to-earnings-growth ratio of 1.45 and a beta of 1.42. The firm’s 50 day simple moving average is $47.25 and its 200 day simple moving average is $46.98.

ScanSource (NASDAQ:SCSC) last issued its earnings results on Thursday, November 7th. The industrial products company reported $0.84 EPS for the quarter, topping the consensus estimate of $0.77 by $0.07. The company had revenue of $775.58 million for the quarter, compared to the consensus estimate of $774.90 million. ScanSource had a net margin of 2.49% and a return on equity of 8.53%. The firm’s revenue for the quarter was down 11.5% on a year-over-year basis. During the same period in the previous year, the firm earned $0.74 earnings per share. As a group, analysts expect that ScanSource, Inc. will post 3.51 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 research report on Thursday, August 15th.

ScanSource Company Profile

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.