BlackRock Fund Advisors boosted its position in ScanSource Inc. (NASDAQ:SCSC) by 7.9% during the third quarter, Holdings Channel reports. The fund owned 1,788,753 shares of the company’s stock after buying an additional 130,895 shares during the period. BlackRock Fund Advisors owned approximately 0.07% of ScanSource worth $65,289,000 at the end of the most recent quarter.
Several other large investors have also recently added to or reduced their stakes in SCSC. PineBridge Investments L.P. increased its stake in ScanSource by 3.5% in the second quarter. PineBridge Investments L.P. now owns 3,255 shares of the company’s stock worth $121,000 after buying an additional 109 shares during the last quarter. Pacad Investment Ltd. purchased a new stake in ScanSource during the second quarter worth $122,000. Teacher Retirement System of Texas increased its stake in ScanSource by 13.6% in the second quarter. Teacher Retirement System of Texas now owns 3,740 shares of the company’s stock worth $139,000 after buying an additional 447 shares during the last quarter. Mason Street Advisors LLC purchased a new stake in ScanSource during the second quarter worth $186,000. Finally, Trexquant Investment LP purchased a new stake in ScanSource during the second quarter worth $209,000. Institutional investors own 97.16% of the company’s stock.
Shares of ScanSource Inc. (NASDAQ:SCSC) opened at 40.00 on Friday. The firm has a market capitalization of $1.01 billion, a PE ratio of 16.72 and a beta of 1.18. The company’s 50 day moving average price is $40.07 and its 200-day moving average price is $38.31. ScanSource Inc. has a 52 week low of $28.94 and a 52 week high of $43.49.
ScanSource (NASDAQ:SCSC) last issued its earnings results on Monday, November 7th. The company reported $0.68 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.66 by $0.02. The firm had revenue of $932.60 million for the quarter, compared to the consensus estimate of $892.46 million. ScanSource had a return on equity of 9.26% and a net margin of 1.73%. The company’s revenue was up 7.1% compared to the same quarter last year. During the same quarter last year, the business posted $0.68 EPS. On average, equities research analysts expect that ScanSource Inc. will post $2.84 EPS for the current fiscal year.
A number of equities research analysts have recently weighed in on the company. Zacks Investment Research downgraded ScanSource from a “hold” rating to a “sell” rating in a research report on Tuesday, January 10th. TheStreet cut ScanSource from a “buy” rating to a “hold” rating in a research note on Tuesday, November 8th.
In other ScanSource news, EVP John J. Ellsworth sold 10,000 shares of the firm’s stock in a transaction on Tuesday, December 13th. The stock was sold at an average price of $40.07, for a total value of $400,700.00. Following the sale, the executive vice president now owns 14,647 shares of the company’s stock, valued at approximately $586,905.29. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CEO Michael L. Baur sold 100,000 shares of the firm’s stock in a transaction on Monday, December 5th. The shares were sold at an average price of $37.02, for a total value of $3,702,000.00. Following the completion of the sale, the chief executive officer now directly owns 51,018 shares in the company, valued at approximately $1,888,686.36. The disclosure for this sale can be found here. In the last ninety days, insiders sold 110,800 shares of company stock worth $4,135,132. Company insiders own 3.03% of the company’s stock.
ScanSource Company Profile
ScanSource, Inc is a wholesale distributor of specialty technology products. The Company and its subsidiaries provide distribution services for technology manufacturers and sells to resellers in the specialty technology markets, such as point-of-sale (POS) and barcode, physical security and three dimensional (3D) printing and communications.
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