Pacer Advisors Inc. Trims Stock Holdings in ScanSource, Inc. $SCSC

Pacer Advisors Inc. decreased its position in ScanSource, Inc. (NASDAQ:SCSC) by 26.4% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 77,086 shares of the industrial products company’s stock after selling 27,659 shares during the quarter. Pacer Advisors Inc. owned approximately 0.36% of ScanSource worth $3,011,000 at the end of the most recent quarter.

A number of other hedge funds have also recently modified their holdings of SCSC. Amundi boosted its stake in ScanSource by 35.1% during the first quarter. Amundi now owns 26,464 shares of the industrial products company’s stock worth $836,000 after acquiring an additional 6,880 shares in the last quarter. AQR Capital Management LLC increased its stake in shares of ScanSource by 3.8% during 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 purchasing an additional 4,693 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its holdings in shares of ScanSource by 2.2% during 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 purchasing an additional 295 shares during the last quarter. Millennium Management LLC lifted its holdings in shares of ScanSource by 8.4% during the first quarter. Millennium Management LLC now owns 259,808 shares of the industrial products company’s stock valued at $8,836,000 after purchasing an additional 20,086 shares during the last quarter. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its position in shares of ScanSource by 35.3% in the 1st 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 purchasing an additional 16,044 shares in the last quarter. Institutional investors own 97.91% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts recently weighed in on SCSC shares. Weiss Ratings upgraded ScanSource from a “hold (c)” rating to a “hold (c+)” rating in a research note on Friday, May 29th. Wall Street Zen raised ScanSource from a “hold” rating to a “buy” rating in a report on Saturday, June 6th. Finally, Zacks Research raised 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 has an average rating of “Hold” and an average price target of $43.00.

ScanSource Trading Down 0.3%

Shares of NASDAQ SCSC opened at $49.19 on Wednesday. The firm’s 50 day moving average price is $44.25 and its 200-day moving average price is $40.65. ScanSource, Inc. has a 52-week low of $33.76 and a 52-week high of $50.63. The company has a debt-to-equity ratio of 0.11, a quick ratio of 1.20 and a current ratio of 1.86. The company has a market cap of $1.00 billion, a PE ratio of 14.91, a P/E/G ratio of 0.84 and a beta of 1.30.

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