Summit Global Investments Makes New $604,000 Investment in ScanSource, Inc. $SCSC

Summit Global Investments bought a new stake in ScanSource, Inc. (NASDAQ:SCSC) during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm bought 13,726 shares of the industrial products company’s stock, valued at approximately $604,000. Summit Global Investments owned about 0.06% of ScanSource at the end of the most recent quarter.

Several other institutional investors also recently modified their holdings of the business. Robeco Institutional Asset Management B.V. lifted its holdings in ScanSource by 4.8% in the third quarter. Robeco Institutional Asset Management B.V. now owns 5,454 shares of the industrial products company’s stock valued at $240,000 after buying an additional 250 shares during the period. Nisa Investment Advisors LLC lifted its stake in shares of ScanSource by 2.6% in the 2nd quarter. Nisa Investment Advisors LLC now owns 10,145 shares of the industrial products company’s stock valued at $424,000 after purchasing an additional 259 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its position in shares of 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 purchasing an additional 295 shares during the last quarter. State of Alaska Department of Revenue boosted its position in shares of ScanSource by 3.3% in the 2nd quarter. State of Alaska Department of Revenue now owns 12,357 shares of the industrial products company’s stock worth $516,000 after purchasing an additional 395 shares during the last quarter. Finally, Bailard Inc. grew its stake in shares of ScanSource by 6.8% during the third quarter. Bailard Inc. now owns 6,300 shares of the industrial products company’s stock worth $277,000 after purchasing an additional 400 shares during the period. Institutional investors and hedge funds own 97.91% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have issued reports on SCSC shares. Weiss Ratings restated a “hold (c)” rating on shares of ScanSource in a report on Monday, December 29th. Wall Street Zen downgraded shares of ScanSource from a “buy” rating to a “hold” rating in a research report on Saturday, January 17th. Barclays initiated coverage on shares of ScanSource in a report on Tuesday, October 7th. They set an “equal weight” rating and a $43.00 price objective for the company. Finally, Zacks Research lowered shares of ScanSource from a “strong-buy” rating to a “hold” rating in a report on Tuesday, October 21st. One equities research analyst has rated the stock with a Buy rating and three have assigned a Hold rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of $42.50.

Insider Transactions at ScanSource

In other news, CEO Michael L. Baur sold 9,559 shares of the firm’s stock in a transaction dated Monday, December 15th. The stock was sold at an average price of $40.82, for a total value of $390,198.38. Following the completion of the transaction, the chief executive officer owned 191,971 shares in the company, valued at $7,836,256.22. This trade represents a 4.74% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Stephen Jones sold 5,020 shares of the company’s stock in a transaction dated Thursday, December 11th. The stock was sold at an average price of $42.30, for a total value of $212,346.00. Following the sale, the chief financial officer owned 83,326 shares in the company, valued at $3,524,689.80. The trade was a 5.68% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last 90 days, insiders have sold 25,020 shares of company stock valued at $1,035,669. Company insiders own 3.18% of the company’s stock.

ScanSource Trading Up 1.0%

NASDAQ:SCSC opened at $42.99 on Friday. The company has a market cap of $943.20 million, a P/E ratio of 13.39, a price-to-earnings-growth ratio of 0.69 and a beta of 1.29. ScanSource, Inc. has a twelve month low of $28.75 and a twelve month high of $46.25. The business has a 50 day moving average price of $40.86 and a two-hundred day moving average price of $41.75. The company has a quick ratio of 1.32, a current ratio of 2.16 and a debt-to-equity ratio of 0.14.

ScanSource (NASDAQ:SCSC) last announced its quarterly earnings data on Thursday, November 6th. The industrial products company reported $1.06 EPS for the quarter, topping analysts’ consensus estimates of $0.91 by $0.15. The business had revenue of $739.65 million for the quarter, compared to analyst estimates of $787.37 million. ScanSource had a net margin of 2.48% and a return on equity of 9.72%. The firm’s revenue for the quarter was down 4.6% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.84 earnings per share. As a group, analysts expect that ScanSource, Inc. will post 3.33 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.