Hsbc Holdings PLC Purchases Shares of 36,881 ScanSource, Inc. $SCSC

Hsbc Holdings PLC acquired a new position in shares of ScanSource, Inc. (NASDAQ:SCSC) in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund acquired 36,881 shares of the industrial products company’s stock, valued at approximately $1,933,000.

Several other institutional investors and hedge funds have also recently modified their holdings of SCSC. Canada Pension Plan Investment Board acquired a new position in shares of ScanSource in the second quarter valued at approximately $25,000. Royal Bank of Canada grew its holdings in ScanSource by 165.0% in the 4th quarter. Royal Bank of Canada now owns 1,876 shares of the industrial products company’s stock valued at $73,000 after buying an additional 1,168 shares in the last quarter. Osaic Holdings Inc. increased its position in ScanSource by 400.5% during the 2nd quarter. Osaic Holdings Inc. now owns 2,087 shares of the industrial products company’s stock worth $87,000 after buying an additional 1,670 shares during the period. Mitsubishi UFJ Asset Management Co. Ltd. bought a new position in ScanSource during the 2nd quarter worth $134,000. Finally, Tower Research Capital LLC TRC lifted its holdings in shares of ScanSource by 672.0% during the second quarter. Tower Research Capital LLC TRC now owns 4,632 shares of the industrial products company’s stock worth $194,000 after buying an additional 4,032 shares in the last quarter. 97.91% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently issued reports on SCSC shares. Weiss Ratings reissued a “hold (c+)” rating on shares of ScanSource in a research report on Wednesday. Northcoast Research lowered shares of ScanSource from a “buy” rating to a “neutral” rating in a research report on Monday, August 17th. Zacks Research upgraded shares of ScanSource from a “hold” rating to a “strong-buy” rating in a research note on Monday, August 24th. Finally, Wall Street Zen raised shares of ScanSource from a “buy” rating to a “strong-buy” rating in a report on Saturday. One research analyst has rated the stock with a Strong Buy rating and three have given a Hold rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $43.00.

ScanSource Stock Performance

SCSC opened at $56.55 on Monday. ScanSource, Inc. has a twelve month low of $33.76 and a twelve month high of $66.78. The company has a 50-day simple moving average of $53.83 and a 200 day simple moving average of $45.12. The company has a quick ratio of 1.15, a current ratio of 1.76 and a debt-to-equity ratio of 0.11. The stock has a market capitalization of $1.14 billion, a price-to-earnings ratio of 15.45, a P/E/G ratio of 0.83 and a beta of 1.28.

ScanSource (NASDAQ:SCSC) last released its earnings results on Thursday, August 20th. The industrial products company reported $1.46 EPS for the quarter, beating the consensus estimate of $1.14 by $0.32. The firm had revenue of $953.11 million for the quarter, compared to analyst estimates of $814.35 million. ScanSource had a net margin of 2.44% and a return on equity of 10.10%. The business’s quarterly revenue was up 17.3% compared to the same quarter last year. During the same period last year, the firm earned $1.02 EPS. Analysts predict that ScanSource, Inc. will post 4.56 EPS for the current fiscal year.

ScanSource Company Profile

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.