Janney Montgomery Scott LLC Buys Shares of 34,860 ScanSource, Inc. (NASDAQ:SCSC)

Janney Montgomery Scott LLC purchased a new stake in ScanSource, Inc. (NASDAQ:SCSC - Free Report) in the 3rd quarter, according to its most recent Form 13F filing with the SEC. The firm purchased 34,860 shares of the industrial products company's stock, valued at approximately $1,674,000. Janney Montgomery Scott LLC owned 0.15% of ScanSource at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also modified their holdings of the company. Allspring Global Investments Holdings LLC grew its position in shares of ScanSource by 2,564.5% during the first quarter. Allspring Global Investments Holdings LLC now owns 7,514 shares of the industrial products company's stock worth $331,000 after buying an additional 7,232 shares in the last quarter. BNP Paribas Financial Markets grew its position in ScanSource by 37.2% in the first quarter. BNP Paribas Financial Markets now owns 16,804 shares of the industrial products company's stock worth $740,000 after acquiring an additional 4,555 shares in the last quarter. Texas Permanent School Fund Corp boosted its holdings in shares of ScanSource by 2.1% during the 1st quarter. Texas Permanent School Fund Corp now owns 22,029 shares of the industrial products company's stock worth $970,000 after buying an additional 461 shares during the period. SG Americas Securities LLC acquired a new position in ScanSource during the 1st quarter valued at $128,000. Finally, Swiss National Bank raised its stake in ScanSource by 1.2% during the 1st quarter. Swiss National Bank now owns 49,600 shares of the industrial products company's stock valued at $2,184,000 after purchasing an additional 600 shares during the last quarter. Institutional investors and hedge funds own 97.91% of the company's stock.

Analyst Upgrades and Downgrades

Separately, Raymond James lowered shares of ScanSource from an "outperform" rating to a "market perform" rating in a report on Thursday, August 15th.

ScanSource Trading Up 0.2 %

SCSC stock traded up $0.10 during trading on Thursday, hitting $49.41. The company had a trading volume of 210,452 shares, compared to its average volume of 210,867. The stock has a market cap of $1.18 billion, a PE ratio of 15.84, a PEG ratio of 1.45 and a beta of 1.42. ScanSource, Inc. has a one year low of $31.01 and a one year high of $53.76. The business has a 50-day moving average of $47.28 and a 200-day moving average of $47.00. The company has a current ratio of 2.03, a quick ratio of 1.27 and a debt-to-equity ratio of 0.15.

ScanSource (NASDAQ:SCSC - Get Free Report) last released its earnings results on Thursday, November 7th. The industrial products company reported $0.84 EPS for the quarter, topping analysts' consensus estimates of $0.77 by $0.07. ScanSource had a return on equity of 8.53% and a net margin of 2.49%. The company had revenue of $775.58 million for the quarter, compared to analysts' expectations of $774.90 million. During the same period in the previous year, the business posted $0.74 EPS. The business's revenue for the quarter was down 11.5% compared to the same quarter last year. Research analysts predict that ScanSource, Inc. will post 3.51 earnings per share for the current fiscal year.

About ScanSource

ScanSource, Inc engages in the distribution of technology products and solutions in the United States, Canada, and Brazil. It operates through two segments, Specialty Technology Solutions and Modern Communications & Cloud. The Specialty Technology Solutions segment provides a portfolio of solutions primarily for enterprise mobile computing, data capture, barcode printing, point of sale (POS), payments, networking, electronic physical security, cyber security, and other technologies.