ScanSource, Inc. $SCSC Shares Bought by SG Americas Securities LLC

SG Americas Securities LLC grew its position in shares of ScanSource, Inc. (NASDAQ:SCSC) by 74.4% during the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 494,988 shares of the industrial products company’s stock after purchasing an additional 211,232 shares during the period. SG Americas Securities LLC owned approximately 2.30% of ScanSource worth $17,968,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also made changes to their positions in SCSC. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its holdings in ScanSource by 2.2% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 13,859 shares of the industrial products company’s stock worth $471,000 after buying an additional 295 shares in the last quarter. Royce & Associates LP grew its stake in shares of ScanSource by 1.7% during the fourth quarter. Royce & Associates LP now owns 26,088 shares of the industrial products company’s stock valued at $1,019,000 after acquiring an additional 433 shares in the last quarter. Summit Global Investments grew its stake in shares of ScanSource by 3.3% during the fourth quarter. Summit Global Investments now owns 14,177 shares of the industrial products company’s stock valued at $554,000 after acquiring an additional 451 shares in the last quarter. WINTON GROUP Ltd increased its position in shares of ScanSource by 2.0% during the fourth quarter. WINTON GROUP Ltd now owns 26,020 shares of the industrial products company’s stock worth $1,016,000 after acquiring an additional 510 shares during the last quarter. Finally, Lazard Asset Management LLC lifted its stake in shares of ScanSource by 1.3% in the second quarter. Lazard Asset Management LLC now owns 43,016 shares of the industrial products company’s stock worth $1,797,000 after acquiring an additional 567 shares in the last quarter. 97.91% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several equities research analysts have issued reports on the company. Wall Street Zen upgraded ScanSource from a “hold” rating to a “buy” rating in a report on Saturday, June 6th. Weiss Ratings raised shares of ScanSource from a “hold (c)” rating to a “hold (c+)” rating in a research report on Friday, May 29th. Finally, Zacks Research upgraded shares of ScanSource from a “strong sell” rating to a “hold” rating in a research note on Tuesday, April 7th. Three analysts have rated the stock with a Hold rating, According to MarketBeat.com, ScanSource currently has an average rating of “Hold” and a consensus price target of $43.00.

ScanSource Trading Up 1.6%

Shares of NASDAQ SCSC opened at $50.53 on Friday. The company has a quick ratio of 1.20, a current ratio of 1.86 and a debt-to-equity ratio of 0.11. The stock’s 50 day moving average price is $44.70 and its two-hundred day moving average price is $40.78. ScanSource, Inc. has a 52-week low of $33.76 and a 52-week high of $50.80. The stock has a market capitalization of $1.03 billion, a P/E ratio of 15.31, a PEG ratio of 0.85 and a beta of 1.30.

ScanSource (NASDAQ:SCSC) last issued its earnings results on Thursday, May 7th. The industrial products company reported $0.94 EPS for the quarter, topping the consensus estimate of $0.91 by $0.03. The company had revenue of $758.59 million during the quarter, compared to analyst estimates of $738.55 million. ScanSource had a return on equity of 9.35% and a net margin of 2.38%.The business’s revenue was up 8.8% on a year-over-year basis. During the same quarter last year, the firm earned $0.86 EPS. On average, analysts anticipate that ScanSource, Inc. will post 3.9 earnings per share for the current fiscal year.

About ScanSource

ScanSource, Inc is a global provider of technology products and solutions designed to help businesses enhance operational efficiency and customer engagement. The company specializes in the distribution of point-of-sale (POS) systems, barcode and data capture devices, networking and communications equipment, and value-added software and cloud services. By combining hardware, software and professional services, ScanSource supports channel partners in delivering end-to-end solutions across multiple industries, including retail, hospitality, healthcare and logistics.

Founded in 1992 and headquartered in Greenville, South Carolina, ScanSource has built a broad international footprint, serving customers throughout North, Central and South America as well as Europe, the Middle East and Africa.