ScanSource, Inc. (NASDAQ:SCSC) Shares Sold by Russell Investments Group Ltd.

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Russell Investments Group Ltd. lessened its stake in ScanSource, Inc. (NASDAQ:SCSC) by 3.2% during the second quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 55,000 shares of the industrial products company’s stock after selling 1,796 shares during the quarter. Russell Investments Group Ltd. owned approximately 0.21% of ScanSource worth $1,790,000 as of its most recent filing with the SEC.

Other institutional investors also recently modified their holdings of the company. Mason Street Advisors LLC raised its stake in ScanSource by 3.8% during the first quarter. Mason Street Advisors LLC now owns 8,254 shares of the industrial products company’s stock worth $296,000 after acquiring an additional 301 shares during the period. Advisor Group Inc. raised its stake in ScanSource by 74.9% during the second quarter. Advisor Group Inc. now owns 782 shares of the industrial products company’s stock worth $25,000 after acquiring an additional 335 shares during the period. Piedmont Investment Advisors Inc. raised its stake in ScanSource by 5.9% during the first quarter. Piedmont Investment Advisors Inc. now owns 6,447 shares of the industrial products company’s stock worth $231,000 after acquiring an additional 361 shares during the period. Comerica Bank raised its stake in ScanSource by 2.6% during the first quarter. Comerica Bank now owns 25,413 shares of the industrial products company’s stock worth $977,000 after acquiring an additional 636 shares during the period. Finally, Texas Permanent School Fund raised its stake in ScanSource by 4.1% during the first quarter. Texas Permanent School Fund now owns 17,451 shares of the industrial products company’s stock worth $625,000 after acquiring an additional 693 shares during the period. Institutional investors and hedge funds own 96.48% of the company’s stock.

Several equities research analysts recently weighed in on the stock. Zacks Investment Research upgraded shares of ScanSource from a “sell” rating to a “hold” rating in a research note on Tuesday, August 20th. ValuEngine cut shares of ScanSource from a “sell” rating to a “strong sell” rating in a research report on Wednesday, September 4th. Raymond James decreased their target price on shares of ScanSource from $44.00 to $36.00 and set an “outperform” rating for the company in a research report on Wednesday, August 21st. Finally, BidaskClub upgraded shares of ScanSource from a “sell” rating to a “hold” rating in a research report on Wednesday, September 11th. One research analyst has rated the stock with a sell rating, three have issued a hold rating and one has issued a buy rating to the company. The company currently has an average rating of “Hold” and a consensus price target of $39.00.

Shares of ScanSource stock traded down $0.01 on Friday, hitting $30.10. The company had a trading volume of 1,321 shares, compared to its average volume of 155,003. The business has a 50-day simple moving average of $30.41 and a 200-day simple moving average of $33.32. The company has a debt-to-equity ratio of 0.38, a current ratio of 2.11 and a quick ratio of 1.11. The company has a market cap of $773.64 million, a PE ratio of 8.98 and a beta of 0.98. ScanSource, Inc. has a 52 week low of $26.84 and a 52 week high of $44.30.

ScanSource (NASDAQ:SCSC) last posted its quarterly earnings data on Tuesday, August 20th. The industrial products company reported $0.71 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.83 by ($0.12). The company had revenue of $960.80 million during the quarter, compared to the consensus estimate of $999.63 million. ScanSource had a net margin of 1.49% and a return on equity of 9.60%. The company’s revenue was down 3.3% on a year-over-year basis. During the same quarter last year, the business earned $0.77 earnings per share. On average, equities research analysts predict that ScanSource, Inc. will post 3.03 earnings per share for the current fiscal year.

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).

See Also: Earnings Per Share (EPS)

Institutional Ownership by Quarter for ScanSource (NASDAQ:SCSC)

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