ScanSource, Inc. (NASDAQ:SCSC) Holdings Trimmed by Geode Capital Management LLC

Geode Capital Management LLC reduced its position in shares of ScanSource, Inc. (NASDAQ:SCSC) by 2.2% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 585,072 shares of the industrial products company’s stock after selling 12,858 shares during the quarter. Geode Capital Management LLC owned 2.46% of ScanSource worth $28,106,000 at the end of the most recent quarter.

A number of other hedge funds also recently modified their holdings of SCSC. Royce & Associates LP increased its holdings in shares of ScanSource by 177.3% in the 3rd quarter. Royce & Associates LP now owns 21,432 shares of the industrial products company’s stock valued at $1,029,000 after purchasing an additional 13,703 shares during the period. Janney Montgomery Scott LLC purchased a new stake in ScanSource in the 3rd quarter worth approximately $1,674,000. Cornercap Investment Counsel Inc. acquired a new stake in shares of ScanSource during the 2nd quarter valued at $524,000. Pacer Advisors Inc. grew its holdings in shares of ScanSource by 54.2% during the 2nd quarter. Pacer Advisors Inc. now owns 2,319,469 shares of the industrial products company’s stock valued at $102,776,000 after acquiring an additional 815,240 shares in the last quarter. Finally, Dynamic Technology Lab Private Ltd grew its holdings in shares of ScanSource by 97.4% during the 3rd quarter. Dynamic Technology Lab Private Ltd now owns 33,939 shares of the industrial products company’s stock valued at $1,630,000 after acquiring an additional 16,746 shares in the last quarter. Hedge funds and other institutional investors own 97.91% of the company’s stock.

ScanSource Stock Performance

Shares of NASDAQ SCSC opened at $49.05 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. ScanSource, Inc. has a one year low of $31.01 and a one year high of $53.90. The business’s 50-day moving average price is $49.28 and its two-hundred day moving average price is $47.77. The company has a market capitalization of $1.17 billion, a P/E ratio of 15.72, a price-to-earnings-growth ratio of 1.50 and a beta of 1.44.

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

Insider Activity at ScanSource

In related news, CAO Brandy Ford sold 1,845 shares of ScanSource stock in a transaction dated Thursday, December 19th. The stock was sold at an average price of $49.38, for a total transaction of $91,106.10. Following the sale, the chief accounting officer now directly owns 9,506 shares of the company’s stock, valued at $469,406.28. This trade represents a 16.25 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Michael L. Baur sold 15,081 shares of the company’s stock in a transaction on Monday, November 18th. The shares were sold at an average price of $49.57, for a total value 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. The trade was a 7.82 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 54,855 shares of company stock worth $2,702,949. 4.20% of the stock is owned by insiders.

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.