Legal & General Group Plc Has $2.92 Million Holdings in ScanSource, Inc. (SCSC)

Legal & General Group Plc raised its stake in ScanSource, Inc. (NASDAQ:SCSC) by 5.3% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 72,368 shares of the industrial products company’s stock after buying an additional 3,665 shares during the quarter. Legal & General Group Plc owned 0.29% of ScanSource worth $2,916,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors also recently added to or reduced their stakes in SCSC. BlackRock Inc. raised its position in ScanSource by 42,757.8% in the 1st quarter. BlackRock Inc. now owns 3,121,763 shares of the industrial products company’s stock valued at $122,529,000 after buying an additional 3,114,479 shares during the last quarter. Martingale Asset Management L P raised its position in ScanSource by 1,070.3% in the 1st quarter. Martingale Asset Management L P now owns 141,938 shares of the industrial products company’s stock valued at $5,572,000 after buying an additional 129,810 shares during the last quarter. Vanguard Group Inc. raised its position in ScanSource by 5.0% in the 1st quarter. Vanguard Group Inc. now owns 2,299,971 shares of the industrial products company’s stock valued at $90,273,000 after buying an additional 109,814 shares during the last quarter. Prudential Financial Inc. raised its position in ScanSource by 47.3% in the 1st quarter. Prudential Financial Inc. now owns 274,839 shares of the industrial products company’s stock valued at $10,788,000 after buying an additional 88,192 shares during the last quarter. Finally, Cornerstone Capital Management Holdings LLC. raised its position in ScanSource by 376.6% in the 1st quarter. Cornerstone Capital Management Holdings LLC. now owns 92,934 shares of the industrial products company’s stock valued at $3,647,000 after buying an additional 73,434 shares during the last quarter. 93.98% of the stock is currently owned by hedge funds and other institutional investors.

ScanSource, Inc. (SCSC) opened at 40.75 on Tuesday. The firm has a 50-day moving average price of $38.18 and a 200-day moving average price of $39.00. ScanSource, Inc. has a 1-year low of $29.05 and a 1-year high of $44.95. The company has a market capitalization of $1.04 billion, a P/E ratio of 15.04 and a beta of 1.15.

ScanSource (NASDAQ:SCSC) last issued its quarterly earnings results on Tuesday, August 29th. The industrial products company reported $0.68 EPS for the quarter, meeting the Zacks’ consensus estimate of $0.68. The company had revenue of $917.30 million during the quarter, compared to the consensus estimate of $894.17 million. ScanSource had a return on equity of 8.76% and a net margin of 1.94%. ScanSource’s revenue was up 4.5% on a year-over-year basis. During the same period last year, the business posted $0.51 earnings per share. On average, analysts forecast that ScanSource, Inc. will post $3.07 EPS for the current fiscal year.

A number of brokerages recently issued reports on SCSC. Zacks Investment Research lowered ScanSource from a “buy” rating to a “hold” rating in a research report on Tuesday, September 5th. ValuEngine raised ScanSource from a “hold” rating to a “buy” rating in a research report on Friday, September 1st. Finally, BidaskClub lowered ScanSource from a “sell” rating to a “strong sell” rating in a research report on Tuesday, August 8th. One analyst has rated the stock with a sell rating, two have issued a hold rating and two have given a buy rating to the stock. The stock presently has an average rating of “Hold” and an average target price 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.

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Institutional Ownership by Quarter for ScanSource (NASDAQ:SCSC)

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