4,000 Shares in ScanSource, Inc. (SCSC) Acquired by Rehmann Capital Advisory Group

Rehmann Capital Advisory Group purchased a new position in ScanSource, Inc. (NASDAQ:SCSC) in the second quarter, according to the company in its most recent Form 13F filing with the SEC. The fund purchased 4,000 shares of the industrial products company’s stock, valued at approximately $161,000.

A number of other hedge funds also recently added to or reduced their stakes in the business. BlackRock Inc. grew its stake in ScanSource by 12.8% in the 2nd quarter. BlackRock Inc. now owns 4,127,282 shares of the industrial products company’s stock worth $166,329,000 after buying an additional 469,872 shares in the last quarter. Dimensional Fund Advisors LP grew its stake in ScanSource by 0.6% in the 1st quarter. Dimensional Fund Advisors LP now owns 2,159,164 shares of the industrial products company’s stock worth $76,758,000 after buying an additional 13,713 shares in the last quarter. Northern Trust Corp grew its stake in ScanSource by 0.5% in the 2nd quarter. Northern Trust Corp now owns 761,431 shares of the industrial products company’s stock worth $30,686,000 after buying an additional 4,138 shares in the last quarter. Schwab Charles Investment Management Inc. grew its stake in ScanSource by 12.5% in the 2nd quarter. Schwab Charles Investment Management Inc. now owns 376,540 shares of the industrial products company’s stock worth $15,175,000 after buying an additional 41,980 shares in the last quarter. Finally, Summit Trail Advisors LLC grew its stake in ScanSource by 2,721.3% in the 1st quarter. Summit Trail Advisors LLC now owns 199,836 shares of the industrial products company’s stock worth $200,000 after buying an additional 192,753 shares in the last quarter. 93.96% of the stock is owned by institutional investors and hedge funds.

A number of equities analysts have commented on the stock. Zacks Investment Research cut shares of ScanSource from a “hold” rating to a “sell” rating in a research note on Wednesday, June 27th. BidaskClub raised shares of ScanSource from a “hold” rating to a “buy” rating in a research note on Wednesday, June 20th. Finally, Raymond James boosted their price target on shares of ScanSource from $44.00 to $47.00 and gave the stock a “buy” rating in a research note on Wednesday, August 29th. Three analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. ScanSource presently has a consensus rating of “Hold” and an average target price of $46.00.

SCSC stock opened at $40.25 on Monday. The company has a debt-to-equity ratio of 0.29, a current ratio of 1.92 and a quick ratio of 1.08. ScanSource, Inc. has a one year low of $31.40 and a one year high of $45.35. The company has a market capitalization of $1.03 billion, a price-to-earnings ratio of 12.94 and a beta of 0.87.

ScanSource (NASDAQ:SCSC) last released its quarterly earnings results on Tuesday, August 28th. The industrial products company reported $0.77 EPS for the quarter, hitting the Zacks’ consensus estimate of $0.77. ScanSource had a net margin of 0.86% and a return on equity of 9.23%. The business had revenue of $993.90 million during the quarter, compared to analysts’ expectations of $974.20 million. During the same quarter in the previous year, the company earned $0.68 EPS. The business’s quarterly revenue was up 8.4% compared to the same quarter last year. equities research analysts forecast that ScanSource, Inc. will post 3.56 earnings per share for the current fiscal year.

In other news, CFO Gerald Lyons sold 600 shares of the business’s stock in a transaction that occurred on Tuesday, August 21st. The shares were sold at an average price of $44.00, for a total value of $26,400.00. Following the completion of the sale, the chief financial officer now directly owns 12,937 shares in the company, valued at approximately $569,228. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO Michael L. Baur sold 13,747 shares of the business’s stock in a transaction that occurred on Wednesday, August 22nd. The stock was sold at an average price of $44.00, for a total transaction of $604,868.00. Following the completion of the sale, the chief executive officer now owns 49,446 shares of the company’s stock, valued at $2,175,624. The disclosure for this sale can be found here. Insiders own 2.35% of the company’s stock.

ScanSource 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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