BNP Paribas Financial Markets Trims Stock Holdings in ScanSource, Inc. (NASDAQ:SCSC)

BNP Paribas Financial Markets lowered its holdings in shares of ScanSource, Inc. (NASDAQ:SCSC) by 13.2% in the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 12,828 shares of the industrial products company’s stock after selling 1,956 shares during the quarter. BNP Paribas Financial Markets owned 0.05% of ScanSource worth $616,000 as of its most recent SEC filing.

Several other hedge funds also recently bought and sold shares of the business. Exchange Traded Concepts LLC increased its position in ScanSource by 1.1% during the 3rd quarter. Exchange Traded Concepts LLC now owns 20,387 shares of the industrial products company’s stock valued at $979,000 after purchasing an additional 220 shares during the period. Rhumbline Advisers raised its stake in ScanSource by 0.3% in the second quarter. Rhumbline Advisers now owns 85,720 shares of the industrial products company’s stock worth $3,798,000 after buying an additional 264 shares in the last quarter. The Manufacturers Life Insurance Company raised its position in shares of ScanSource by 3.4% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 9,440 shares of the industrial products company’s stock worth $418,000 after acquiring an additional 308 shares in the last quarter. Quest Partners LLC lifted its stake in shares of 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 purchasing an additional 395 shares during the last quarter. Finally, CWM LLC boosted its position in ScanSource by 164.1% during the second quarter. CWM LLC now owns 647 shares of the industrial products company’s stock valued at $29,000 after purchasing an additional 402 shares in the last quarter. Institutional investors own 97.91% of the company’s stock.

Wall Street Analyst Weigh In

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

Insider Buying and Selling

In other news, CEO Michael L. Baur sold 15,081 shares of the company’s stock in a transaction dated Monday, November 18th. The shares were sold at an average price of $49.57, for a total transaction of $747,565.17. Following the completion of the transaction, the chief executive officer now owns 177,760 shares of the company’s stock, valued at $8,811,563.20. This represents a 7.82 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Insiders have sold a total of 53,010 shares of company stock worth $2,611,843 in the last quarter. Company insiders own 4.20% of the company’s stock.

ScanSource Price Performance

Shares of SCSC stock opened at $52.56 on Friday. The company has a debt-to-equity ratio of 0.15, a current ratio of 2.03 and a quick ratio of 1.27. The company has a market capitalization of $1.25 billion, a PE ratio of 16.85, a price-to-earnings-growth ratio of 1.49 and a beta of 1.44. The firm’s 50-day moving average is $49.00 and its two-hundred day moving average is $47.63. ScanSource, Inc. has a 12 month low of $31.01 and a 12 month high of $53.82.

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

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.