Profit Investment Management LLC boosted its holdings in shares of ScanSource, Inc. (NASDAQ:SCSC) by 7.6% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 62,640 shares of the industrial products company’s stock after purchasing an additional 4,431 shares during the period. Profit Investment Management LLC’s holdings in ScanSource were worth $2,315,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in SCSC. Metropolitan Life Insurance Co NY lifted its stake in shares of ScanSource by 6.0% in the 3rd quarter. Metropolitan Life Insurance Co NY now owns 8,225 shares of the industrial products company’s stock valued at $251,000 after acquiring an additional 466 shares during the last quarter. California State Teachers Retirement System lifted its stake in shares of ScanSource by 1.2% in the 3rd quarter. California State Teachers Retirement System now owns 40,254 shares of the industrial products company’s stock valued at $1,230,000 after acquiring an additional 480 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank lifted its stake in shares of ScanSource by 51.9% in the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 1,923 shares of the industrial products company’s stock valued at $59,000 after acquiring an additional 657 shares during the last quarter. State of Tennessee Treasury Department lifted its stake in shares of ScanSource by 8.5% in the 3rd quarter. State of Tennessee Treasury Department now owns 11,233 shares of the industrial products company’s stock valued at $343,000 after acquiring an additional 883 shares during the last quarter. Finally, Strs Ohio lifted its stake in shares of ScanSource by 3.9% in the 3rd quarter. Strs Ohio now owns 23,800 shares of the industrial products company’s stock valued at $727,000 after acquiring an additional 900 shares during the last quarter. Hedge funds and other institutional investors own 94.67% of the company’s stock.

A number of brokerages have recently commented on SCSC. BidaskClub cut ScanSource from a “buy” rating to a “hold” rating in a research note on Friday, January 3rd. Zacks Investment Research cut ScanSource from a “buy” rating to a “hold” rating in a research note on Tuesday, November 19th. TheStreet upgraded ScanSource from a “c+” rating to a “b-” rating in a research note on Thursday, November 21st. Finally, ValuEngine upgraded ScanSource from a “sell” rating to a “hold” rating in a research note on Thursday, October 24th. Four investment analysts have rated the stock with a hold rating and one has issued a buy rating to the company. ScanSource has a consensus rating of “Hold” and an average price target of $37.00.

In related news, CFO Gerald Lyons sold 1,000 shares of the stock in a transaction on Friday, November 15th. The stock was sold at an average price of $35.05, for a total value of $35,050.00. Following the completion of the sale, the chief financial officer now directly owns 16,868 shares in the company, valued at $591,223.40. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 3.87% of the company’s stock.

Shares of SCSC traded up $0.16 during trading hours on Wednesday, reaching $35.82. The stock had a trading volume of 8,658 shares, compared to its average volume of 80,092. ScanSource, Inc. has a 12 month low of $26.84 and a 12 month high of $40.55. The stock has a market capitalization of $901.02 million, a PE ratio of 10.66 and a beta of 0.99. The company has a debt-to-equity ratio of 0.40, a quick ratio of 1.04 and a current ratio of 1.92. The company’s 50-day moving average is $36.77 and its two-hundred day moving average is $32.85.

ScanSource (NASDAQ:SCSC) last announced its quarterly earnings results on Tuesday, November 12th. The industrial products company reported $0.72 EPS for the quarter, missing the Zacks’ consensus estimate of $0.73 by ($0.01). The firm had revenue of $1.01 billion during the quarter, compared to the consensus estimate of $957.93 million. ScanSource had a net margin of 1.40% and a return on equity of 9.03%. The firm’s revenue was up 3.5% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.89 earnings per share. Equities analysts anticipate that ScanSource, Inc. will post 3.05 earnings per share for the current fiscal year.

ScanSource Company Profile

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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