Dana Investment Advisors Inc. Purchases 15,196 Shares of ScanSource, Inc. $SCSC

Dana Investment Advisors Inc. boosted its position in ScanSource, Inc. (NASDAQ:SCSC) by 7.3% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 224,048 shares of the industrial products company’s stock after acquiring an additional 15,196 shares during the period. Dana Investment Advisors Inc. owned 1.02% of ScanSource worth $8,751,000 at the end of the most recent quarter.

Several other hedge funds have also added to or reduced their stakes in SCSC. Amundi boosted its holdings in ScanSource by 35.1% in the first quarter. Amundi now owns 26,464 shares of the industrial products company’s stock valued at $836,000 after acquiring an additional 6,880 shares during the last quarter. AQR Capital Management LLC boosted its holdings in ScanSource by 3.8% in the first quarter. AQR Capital Management LLC now owns 128,574 shares of the industrial products company’s stock valued at $4,373,000 after acquiring an additional 4,693 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its holdings in ScanSource by 2.2% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 13,859 shares of the industrial products company’s stock valued at $471,000 after acquiring an additional 295 shares during the last quarter. Millennium Management LLC boosted its holdings in ScanSource by 8.4% during the first quarter. Millennium Management LLC now owns 259,808 shares of the industrial products company’s stock worth $8,836,000 after buying an additional 20,086 shares during the last quarter. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its holdings in ScanSource by 35.3% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 61,513 shares of the industrial products company’s stock worth $2,092,000 after buying an additional 16,044 shares during the last quarter. Institutional investors own 97.91% of the company’s stock.

Insider Buying and Selling at ScanSource

In other news, CEO Michael L. Baur sold 21,173 shares of ScanSource stock in a transaction dated Friday, March 13th. The stock was sold at an average price of $35.76, for a total transaction of $757,146.48. Following the transaction, the chief executive officer owned 161,339 shares in the company, valued at $5,769,482.64. The trade was a 11.60% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. 3.18% of the stock is owned by company insiders.

ScanSource Price Performance

Shares of SCSC opened at $42.11 on Friday. The company has a current ratio of 1.86, a quick ratio of 1.20 and a debt-to-equity ratio of 0.11. ScanSource, Inc. has a 1 year low of $33.76 and a 1 year high of $46.63. The stock has a market cap of $856.10 million, a P/E ratio of 12.76, a price-to-earnings-growth ratio of 0.72 and a beta of 1.28. The stock’s 50-day moving average price is $38.51 and its two-hundred day moving average price is $39.52.

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

Analyst Upgrades and Downgrades

A number of brokerages have issued reports on SCSC. Zacks Research upgraded ScanSource from a “strong sell” rating to a “hold” rating in a report on Tuesday, April 7th. Wall Street Zen cut ScanSource from a “buy” rating to a “hold” rating in a report on Saturday, January 17th. Three research analysts have rated the stock with a Hold rating, According to data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $43.00.

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.