Victory Capital Management Inc. Decreases Stake in ScanSource, Inc. (NASDAQ:SCSC)

Victory Capital Management Inc. lessened its stake in shares of ScanSource, Inc. (NASDAQ:SCSC) by 92.7% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 49,371 shares of the industrial products company’s stock after selling 626,817 shares during the period. Victory Capital Management Inc. owned approximately 0.21% of ScanSource worth $2,371,000 at the end of the most recent reporting period.

Other hedge funds have also bought and sold shares of the company. CWM LLC raised its position in ScanSource by 164.1% during 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 last quarter. nVerses Capital LLC purchased a new stake in ScanSource during the second quarter worth $40,000. Quest Partners LLC acquired a new stake in ScanSource during the second quarter valued at $41,000. Innealta Capital LLC acquired a new stake in shares of ScanSource during the 2nd quarter valued at about $58,000. Finally, SG Americas Securities LLC purchased a new stake in shares of ScanSource in the first quarter valued at approximately $128,000. Institutional investors and hedge funds own 97.91% of the company’s stock.

ScanSource Trading Up 2.4 %

NASDAQ SCSC opened at $51.10 on Monday. The firm has a market cap of $1.22 billion, a price-to-earnings ratio of 16.38, a PEG ratio of 1.42 and a beta of 1.42. ScanSource, Inc. has a one year low of $31.01 and a one year high of $53.76. The company has a debt-to-equity ratio of 0.15, a quick ratio of 1.27 and a current ratio of 2.03. The firm has a 50 day simple moving average of $47.78 and a 200-day simple moving average of $47.31.

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

Analyst Ratings Changes

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

Insiders Place Their Bets

In other ScanSource news, CEO Michael L. Baur sold 8,312 shares of ScanSource stock in a transaction that occurred on Wednesday, November 20th. The stock was sold at an average price of $48.98, for a total value of $407,121.76. Following the sale, the chief executive officer now owns 177,760 shares of the company’s stock, valued at approximately $8,706,684.80. The trade was a 4.47 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders have sold a total of 53,010 shares of company stock valued at $2,611,843 over the last quarter. Company insiders own 4.20% of the company’s stock.

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.