Systematic Financial Management LP Decreases Stock Holdings in ScanSource, Inc. (NASDAQ:SCSC)

Systematic Financial Management LP decreased its holdings in shares of ScanSource, Inc. (NASDAQ:SCSC) by 11.4% during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 28,265 shares of the industrial products company’s stock after selling 3,625 shares during the quarter. Systematic Financial Management LP owned about 0.11% of ScanSource worth $920,000 as of its most recent SEC filing.

Other institutional investors have also added to or reduced their stakes in the company. Norges Bank bought a new position in ScanSource during the fourth quarter valued at $18,911,000. CCM Investment Advisers LLC increased its position in ScanSource by 25.4% during the first quarter. CCM Investment Advisers LLC now owns 221,187 shares of the industrial products company’s stock valued at $7,922,000 after acquiring an additional 44,743 shares during the last quarter. Assenagon Asset Management S.A. increased its position in ScanSource by 120.6% during the first quarter. Assenagon Asset Management S.A. now owns 184,704 shares of the industrial products company’s stock valued at $6,616,000 after acquiring an additional 100,975 shares during the last quarter. Foundry Partners LLC increased its position in ScanSource by 11.0% during the second quarter. Foundry Partners LLC now owns 183,397 shares of the industrial products company’s stock valued at $5,971,000 after acquiring an additional 18,130 shares during the last quarter. Finally, Martingale Asset Management L P increased its position in ScanSource by 139.0% during the first quarter. Martingale Asset Management L P now owns 125,517 shares of the industrial products company’s stock valued at $4,497,000 after acquiring an additional 73,010 shares during the last quarter. 95.14% of the stock is currently owned by institutional investors.

Shares of NASDAQ SCSC traded down $0.40 during mid-day trading on Friday, reaching $31.88. The company had a trading volume of 36,673 shares, compared to its average volume of 100,830. The stock’s 50-day moving average price is $32.41. The company has a debt-to-equity ratio of 0.38, a quick ratio of 0.99 and a current ratio of 2.06. The firm has a market cap of $829.67 million, a PE ratio of 9.44 and a beta of 0.95. ScanSource, Inc. has a 52 week low of $28.55 and a 52 week high of $44.30.

ScanSource (NASDAQ:SCSC) last posted its quarterly earnings results on Thursday, May 9th. The industrial products company reported $0.77 EPS for the quarter, missing the Zacks’ consensus estimate of $0.78 by ($0.01). The company had revenue of $893.40 million during the quarter, compared to the consensus estimate of $931.63 million. ScanSource had a return on equity of 9.90% and a net margin of 1.44%. The company’s revenue for the quarter was down .2% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.68 earnings per share. As a group, sell-side analysts predict that ScanSource, Inc. will post 3.47 earnings per share for the current year.

A number of research analysts have weighed in on SCSC shares. Northcoast Research cut shares of ScanSource from a “buy” rating to a “neutral” rating in a research report on Monday, May 6th. BidaskClub upgraded shares of ScanSource from a “sell” rating to a “hold” rating in a research report on Friday, July 26th. Zacks Investment Research cut shares of ScanSource from a “hold” rating to a “sell” rating in a research report on Wednesday. TheStreet cut shares of ScanSource from a “b-” rating to a “c+” rating in a report on Friday, May 17th. Finally, ValuEngine cut shares of ScanSource from a “hold” rating to a “sell” rating in a report on Friday, May 10th. Two equities research analysts have rated the stock with a sell rating, two have issued a hold rating and one has given a buy rating to the company’s stock. The stock presently has an average rating of “Hold” and a consensus target price of $44.50.

In related news, Director Michael J. Grainger purchased 4,000 shares of the business’s stock in a transaction dated Tuesday, May 14th. The shares were purchased at an average cost of $30.69 per share, for a total transaction of $122,760.00. Following the completion of the acquisition, the director now owns 18,100 shares in the company, valued at approximately $555,489. The purchase was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Corporate insiders own 2.56% of the company’s stock.

About ScanSource

ScanSource, Inc distributes technology products and solutions in North America, Latin America, and Europe. It operates in two segments, Worldwide Barcode, Networking & Security (WW Barcode, Networking & Security); and Worldwide Communications & Services (WW Communications & Services).

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Institutional Ownership by Quarter for ScanSource (NASDAQ:SCSC)

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