Intech Investment Management LLC Makes New Investment in ScanSource, Inc. (NASDAQ:SCSC)

Intech Investment Management LLC acquired a new position in shares of ScanSource, Inc. (NASDAQ:SCSC) during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor acquired 7,026 shares of the industrial products company’s stock, valued at approximately $337,000.

A number of other hedge funds have also recently added to or reduced their stakes in the stock. B. Metzler seel. Sohn & Co. Holding AG bought a new stake in ScanSource during the 3rd quarter worth about $1,270,000. Quest Partners LLC grew its holdings in ScanSource by 42.6% during the 3rd quarter. Quest Partners LLC now owns 1,323 shares of the industrial products company’s stock worth $64,000 after acquiring an additional 395 shares during the last quarter. Gladius Capital Management LP bought a new stake in ScanSource during the 3rd quarter worth about $30,000. Empowered Funds LLC grew its holdings in ScanSource by 5.3% during the 3rd quarter. Empowered Funds LLC now owns 129,713 shares of the industrial products company’s stock worth $6,230,000 after acquiring an additional 6,566 shares during the last quarter. Finally, Royce & Associates LP grew its holdings in ScanSource by 177.3% during the 3rd quarter. Royce & Associates LP now owns 21,432 shares of the industrial products company’s stock worth $1,029,000 after acquiring an additional 13,703 shares during the last quarter. Institutional investors own 97.91% of the company’s stock.

Wall Street Analysts Forecast Growth

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

ScanSource Stock Down 0.3 %

Shares of NASDAQ SCSC opened at $52.66 on Wednesday. The firm has a market capitalization of $1.25 billion, a PE ratio of 16.88, a price-to-earnings-growth ratio of 1.50 and a beta of 1.44. The company has a current ratio of 2.03, a quick ratio of 1.27 and a debt-to-equity ratio of 0.15. ScanSource, Inc. has a 1 year low of $31.01 and a 1 year high of $53.76. The firm’s 50-day moving average is $48.29 and its 200-day moving average is $47.47.

ScanSource (NASDAQ:SCSC) last issued its earnings results 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. The company had revenue of $775.58 million for the quarter, compared to analyst estimates of $774.90 million. ScanSource had a net margin of 2.49% and a return on equity of 8.53%. The company’s revenue for the quarter was down 11.5% on a year-over-year basis. During the same quarter last year, the firm earned $0.74 EPS. Equities analysts expect that ScanSource, Inc. will post 3.51 EPS for the current year.

Insider Activity

In related news, CEO Michael L. Baur sold 8,312 shares of the stock in a transaction that occurred on Wednesday, November 20th. The shares were sold at an average price of $48.98, for a total value of $407,121.76. Following the sale, the chief executive officer now directly owns 177,760 shares in the company, valued at $8,706,684.80. This trade represents a 4.47 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. In the last quarter, insiders have sold 53,010 shares of company stock valued at $2,611,843. 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.