Versant Capital Management Inc Lowers Stock Position in ScanSource, Inc. (NASDAQ:SCSC)

Versant Capital Management Inc cut its holdings in shares of ScanSource, Inc. (NASDAQ:SCSC) by 25.6% during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 922 shares of the industrial products company’s stock after selling 317 shares during the period. Versant Capital Management Inc’s holdings in ScanSource were worth $30,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also made changes to their positions in the company. Mason Street Advisors LLC grew its position in shares of 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 last quarter. Piedmont Investment Advisors Inc. grew its position in shares of 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 last quarter. Strs Ohio grew its position in shares of ScanSource by 2.4% during the first quarter. Strs Ohio now owns 21,200 shares of the industrial products company’s stock worth $759,000 after acquiring an additional 500 shares during the last quarter. Chartwell Investment Partners LLC grew its position in shares of ScanSource by 1.6% during the first quarter. Chartwell Investment Partners LLC now owns 38,395 shares of the industrial products company’s stock worth $1,375,000 after acquiring an additional 606 shares during the last quarter. Finally, Comerica Bank grew its position in ScanSource by 2.6% in the 1st quarter. Comerica Bank now owns 25,413 shares of the industrial products company’s stock valued at $977,000 after buying an additional 636 shares during the last quarter. Institutional investors and hedge funds own 95.02% of the company’s stock.

In other ScanSource news, Director Michael J. Grainger bought 4,000 shares of ScanSource stock in a transaction on Tuesday, May 14th. The stock was bought at an average price of $30.69 per share, with a total value of $122,760.00. Following the completion of the acquisition, the director now owns 18,100 shares in the company, valued at $555,489. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 2.56% of the stock is currently owned by company insiders.

NASDAQ:SCSC traded down $1.16 during midday trading on Friday, reaching $31.90. The stock had a trading volume of 87,059 shares, compared to its average volume of 100,016. The business’s fifty day simple moving average is $32.42. ScanSource, Inc. has a 12-month low of $28.55 and a 12-month high of $44.30. The company has a current ratio of 2.06, a quick ratio of 0.99 and a debt-to-equity ratio of 0.38. The stock has a market cap of $872.59 million, a PE ratio of 9.93 and a beta of 0.95.

ScanSource (NASDAQ:SCSC) last released its earnings results on Thursday, May 9th. The industrial products company reported $0.77 EPS for the quarter, missing analysts’ consensus estimates of $0.78 by ($0.01). ScanSource had a net margin of 1.44% and a return on equity of 9.90%. The business had revenue of $893.40 million during the quarter, compared to analyst estimates of $931.63 million. During the same period last year, the business posted $0.68 EPS. ScanSource’s revenue was down .2% compared to the same quarter last year. As a group, sell-side analysts expect that ScanSource, Inc. will post 3.48 EPS for the current year.

SCSC has been the topic of a number of analyst reports. Northcoast Research lowered shares of ScanSource from a “buy” rating to a “neutral” rating in a research report on Monday, May 6th. Zacks Investment Research upgraded shares of ScanSource from a “sell” rating to a “hold” rating in a research report on Tuesday, July 9th. ValuEngine lowered shares of ScanSource from a “hold” rating to a “sell” rating in a research report on Friday, May 10th. BidaskClub upgraded shares of ScanSource from a “sell” rating to a “hold” rating in a research report on Friday, July 26th. Finally, TheStreet lowered shares of ScanSource from a “b-” rating to a “c+” rating in a research report on Friday, May 17th. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and one has assigned a buy rating to the company’s stock. The stock presently has an average rating of “Hold” and an average price target of $44.50.

About ScanSource

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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