Cornerstone Capital Management Holdings LLC. cut its stake in shares of ScanSource, Inc. (NASDAQ:SCSC) by 8.0% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 75,934 shares of the industrial products company’s stock after selling 6,600 shares during the quarter. Cornerstone Capital Management Holdings LLC. owned about 0.30% of ScanSource worth $3,314,000 as of its most recent SEC filing.

Several other large investors also recently modified their holdings of SCSC. Tocqueville Asset Management L.P. increased its holdings in ScanSource by 0.6% in the 2nd quarter. Tocqueville Asset Management L.P. now owns 26,317 shares of the industrial products company’s stock worth $1,061,000 after buying an additional 167 shares in the last quarter. Texas Permanent School Fund increased its holdings in ScanSource by 1.1% in the 2nd quarter. Texas Permanent School Fund now owns 18,482 shares of the industrial products company’s stock worth $745,000 after buying an additional 198 shares in the last quarter. Los Angeles Capital Management & Equity Research Inc. increased its holdings in ScanSource by 0.9% in the 2nd quarter. Los Angeles Capital Management & Equity Research Inc. now owns 23,266 shares of the industrial products company’s stock worth $938,000 after buying an additional 200 shares in the last quarter. Public Employees Retirement System of Ohio increased its holdings in ScanSource by 1.0% in the 2nd quarter. Public Employees Retirement System of Ohio now owns 42,294 shares of the industrial products company’s stock worth $1,704,000 after buying an additional 438 shares in the last quarter. Finally, Victory Capital Management Inc. increased its holdings in ScanSource by 17.6% in the 2nd quarter. Victory Capital Management Inc. now owns 2,974 shares of the industrial products company’s stock worth $120,000 after buying an additional 446 shares in the last quarter. Hedge funds and other institutional investors own 94.42% of the company’s stock.

In other ScanSource news, CEO Michael L. Baur sold 5,435 shares of the firm’s stock in a transaction dated Monday, October 9th. The stock was sold at an average price of $43.80, for a total value of $238,053.00. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CEO Michael L. Baur sold 13,700 shares of the firm’s stock in a transaction dated Wednesday, October 4th. The stock was sold at an average price of $43.94, for a total value of $601,978.00. Following the completion of the transaction, the chief executive officer now directly owns 35,209 shares in the company, valued at $1,547,083.46. The disclosure for this sale can be found here. Insiders sold 81,374 shares of company stock worth $3,591,131 over the last three months. Insiders own 2.35% of the company’s stock.

ScanSource, Inc. (NASDAQ SCSC) opened at $35.80 on Tuesday. The stock has a market capitalization of $894.73, a PE ratio of 12.36, a price-to-earnings-growth ratio of 3.93 and a beta of 1.03. The company has a debt-to-equity ratio of 0.33, a current ratio of 1.94 and a quick ratio of 1.08. ScanSource, Inc. has a 12-month low of $33.55 and a 12-month high of $45.35.

ScanSource (NASDAQ:SCSC) last announced its earnings results on Monday, November 6th. The industrial products company reported $0.76 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.78 by ($0.02). The firm had revenue of $924.56 million during the quarter, compared to analysts’ expectations of $966.20 million. ScanSource had a return on equity of 8.78% and a net margin of 1.65%. The company’s revenue for the quarter was down .9% on a year-over-year basis. During the same period in the previous year, the business posted $0.68 earnings per share. equities analysts anticipate that ScanSource, Inc. will post 2.98 EPS for the current fiscal year.

Several equities research analysts recently commented on SCSC shares. Zacks Investment Research downgraded ScanSource from a “buy” rating to a “hold” rating in a report on Tuesday, September 5th. TheStreet downgraded ScanSource from a “b” rating to a “c+” rating in a report on Wednesday, November 8th. ValuEngine downgraded ScanSource from a “buy” rating to a “hold” rating in a report on Tuesday, November 7th. BidaskClub downgraded ScanSource from a “sell” rating to a “strong sell” rating in a report on Thursday, December 7th. Finally, Northcoast Research downgraded ScanSource from a “buy” rating to a “neutral” rating in a report on Monday, October 2nd. One equities research analyst has rated the stock with a sell rating and four have assigned a hold rating to the stock. The company presently has a consensus rating of “Hold” and a consensus price target of $45.75.

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About ScanSource

ScanSource, Inc is a provider of technology products and solutions. The Company and its subsidiaries provide solutions for technology manufacturers and sell to resellers in technology markets, such as point-of-sale (POS) and Barcode, Networking and Security, Communications and Emerging Technologies. It operates through two segments: Worldwide Barcode & Security and Worldwide Communications & Services.

Institutional Ownership by Quarter for ScanSource (NASDAQ:SCSC)

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