KBC Group NV Grows Position in ScanSource, Inc. (NASDAQ:SCSC)

KBC Group NV grew its stake in shares of ScanSource, Inc. (NASDAQ:SCSC) by 59.9% during the 3rd quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 1,182 shares of the industrial products company’s stock after purchasing an additional 443 shares during the period. KBC Group NV’s holdings in ScanSource were worth $57,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also made changes to their positions in SCSC. Janney Montgomery Scott LLC purchased a new stake in ScanSource during the third quarter worth about $1,674,000. Cornercap Investment Counsel Inc. purchased a new stake in shares of ScanSource during the 2nd quarter worth approximately $524,000. Pacer Advisors Inc. grew its holdings in shares of ScanSource by 54.2% in the 2nd quarter. Pacer Advisors Inc. now owns 2,319,469 shares of the industrial products company’s stock worth $102,776,000 after acquiring an additional 815,240 shares during the period. Vanguard Group Inc. increased its stake in ScanSource by 1.2% in the 1st quarter. Vanguard Group Inc. now owns 3,479,683 shares of the industrial products company’s stock valued at $153,245,000 after purchasing an additional 40,264 shares in the last quarter. Finally, Raymond James & Associates raised its holdings in ScanSource by 2.4% during the second quarter. Raymond James & Associates now owns 95,086 shares of the industrial products company’s stock worth $4,213,000 after purchasing an additional 2,202 shares during the last quarter. 97.91% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

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

ScanSource Stock Performance

Shares of SCSC opened at $51.10 on Friday. ScanSource, Inc. has a 12-month low of $31.01 and a 12-month high of $53.76. The stock has a market cap of $1.22 billion, a P/E ratio of 16.38, a PEG ratio of 1.42 and a beta of 1.42. 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 company has a 50-day moving average of $47.78 and a two-hundred day moving average of $47.29.

ScanSource (NASDAQ:SCSC) last issued its quarterly earnings data on Thursday, November 7th. The industrial products company reported $0.84 earnings per share for the quarter, topping analysts’ consensus estimates of $0.77 by $0.07. ScanSource had a net margin of 2.49% and a return on equity of 8.53%. The business had revenue of $775.58 million during the quarter, compared to analysts’ expectations of $774.90 million. During the same period last year, the company posted $0.74 EPS. The company’s revenue was down 11.5% on a year-over-year basis. As a group, research analysts predict that ScanSource, Inc. will post 3.51 EPS for the current fiscal year.

Insider Transactions at ScanSource

In related news, CEO Michael L. Baur sold 8,312 shares of the stock in a transaction on Wednesday, November 20th. The stock was sold at an average price of $48.98, for a total transaction of $407,121.76. Following the sale, the chief executive officer now owns 177,760 shares of the company’s stock, valued at $8,706,684.80. This trade represents a 4.47 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Insiders sold a total of 53,010 shares of company stock valued at $2,611,843 over the last three months. 4.20% of the stock is currently owned by insiders.

ScanSource 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.