Assenagon Asset Management S.A. Reduces Position in ScanSource, Inc. (NASDAQ:SCSC)

Assenagon Asset Management S.A. decreased its position in shares of ScanSource, Inc. (NASDAQ:SCSC) by 23.9% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 66,786 shares of the industrial products company’s stock after selling 20,971 shares during the quarter. Assenagon Asset Management S.A. owned approximately 0.28% of ScanSource worth $3,169,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also recently modified their holdings of SCSC. Pacer Advisors Inc. boosted its position in shares of ScanSource by 18.3% during the 3rd quarter. Pacer Advisors Inc. now owns 2,744,702 shares of the industrial products company’s stock valued at $131,828,000 after acquiring an additional 425,233 shares during the last quarter. Millennium Management LLC boosted its position in shares of ScanSource by 2,640.7% during the 2nd quarter. Millennium Management LLC now owns 136,266 shares of the industrial products company’s stock valued at $6,038,000 after acquiring an additional 131,294 shares during the last quarter. Wasatch Advisors LP boosted its position in shares of ScanSource by 13.2% during the 3rd quarter. Wasatch Advisors LP now owns 1,097,992 shares of the industrial products company’s stock valued at $52,737,000 after acquiring an additional 127,883 shares during the last quarter. JPMorgan Chase & Co. boosted its position in shares of ScanSource by 31.8% during the 3rd quarter. JPMorgan Chase & Co. now owns 377,080 shares of the industrial products company’s stock valued at $18,111,000 after acquiring an additional 91,069 shares during the last quarter. Finally, Dimensional Fund Advisors LP boosted its position in shares of ScanSource by 2.0% during the 2nd quarter. Dimensional Fund Advisors LP now owns 1,983,625 shares of the industrial products company’s stock valued at $87,894,000 after acquiring an additional 39,533 shares during the last quarter. Institutional investors and hedge funds own 97.91% of the company’s stock.

ScanSource Trading Up 2.4 %

Shares of SCSC stock opened at $51.68 on Wednesday. The company’s 50-day moving average price is $49.84 and its 200-day moving average price is $48.36. 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 stock has a market cap of $1.23 billion, a price-to-earnings ratio of 16.56, a PEG ratio of 1.44 and a beta of 1.45. ScanSource, Inc. has a twelve month low of $31.01 and a twelve month high of $53.90.

ScanSource (NASDAQ:SCSC) last announced its quarterly earnings results on Thursday, November 7th. The industrial products company reported $0.84 earnings per share for the quarter, beating the consensus estimate of $0.77 by $0.07. The firm had revenue of $775.58 million for 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%. The company’s revenue was down 11.5% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.74 EPS. As a group, equities analysts predict that ScanSource, Inc. will post 3.51 earnings per share for the current year.

Insiders Place Their Bets

In other ScanSource news, CEO Michael L. Baur sold 8,312 shares of the stock in a transaction dated Wednesday, November 20th. The shares were sold at an average price of $48.98, for a total transaction of $407,121.76. Following the completion of the transaction, 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 sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, CAO Brandy Ford sold 1,845 shares of the 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 transaction, the chief accounting officer now directly owns 9,506 shares of the company’s stock, valued at approximately $469,406.28. This trade represents a 16.25 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 54,855 shares of company stock valued at $2,702,949 over the last 90 days. 4.20% of the stock is owned by company 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.