ScanSource, Inc. (NASDAQ:SCSC) Shares Bought by Mackenzie Financial Corp

Mackenzie Financial Corp grew its holdings in shares of ScanSource, Inc. (NASDAQ:SCSC - Free Report) by 379.1% during the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 40,592 shares of the industrial products company's stock after purchasing an additional 32,120 shares during the quarter. Mackenzie Financial Corp owned approximately 0.16% of ScanSource worth $1,799,000 at the end of the most recent quarter.

Several other large investors have also made changes to their positions in the company. Vanguard Group Inc. raised its position in shares of ScanSource by 1.2% in the 1st quarter. Vanguard Group Inc. now owns 3,479,683 shares of the industrial products company's stock worth $153,245,000 after buying an additional 40,264 shares during the period. Pacer Advisors Inc. raised its position in shares of ScanSource by 54.2% in the 2nd quarter. Pacer Advisors Inc. now owns 2,319,469 shares of the industrial products company's stock worth $102,776,000 after buying an additional 815,240 shares during the period. Dimensional Fund Advisors LP raised its position in shares of ScanSource by 2.0% in the 2nd quarter. Dimensional Fund Advisors LP now owns 1,983,625 shares of the industrial products company's stock worth $87,894,000 after buying an additional 39,533 shares during the period. Wasatch Advisors LP raised its position in shares of ScanSource by 67.9% in the 1st quarter. Wasatch Advisors LP now owns 1,055,882 shares of the industrial products company's stock worth $46,501,000 after buying an additional 426,945 shares during the period. Finally, American Century Companies Inc. raised its position in shares of ScanSource by 75.5% in the 2nd quarter. American Century Companies Inc. now owns 521,127 shares of the industrial products company's stock worth $23,091,000 after buying an additional 224,160 shares during the period. 97.91% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

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

Insider Activity

In other news, CEO Michael L. Baur sold 34,203 shares of the firm's stock in a transaction dated Monday, July 8th. The stock was sold at an average price of $42.49, for a total transaction of $1,453,285.47. Following the completion of the sale, the chief executive officer now directly owns 118,080 shares in the company, valued at $5,017,219.20. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In other news, CEO Michael L. Baur sold 34,203 shares of the firm's stock in a transaction dated Monday, July 8th. The stock was sold at an average price of $42.49, for a total transaction of $1,453,285.47. Following the completion of the sale, the chief executive officer now directly owns 118,080 shares in the company, valued at $5,017,219.20. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Michael L. Baur sold 7,798 shares of ScanSource stock in a transaction dated Thursday, July 11th. The stock was sold at an average price of $43.81, for a total value of $341,630.38. Following the completion of the transaction, the chief executive officer now owns 118,080 shares of the company's stock, valued at $5,173,084.80. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 4.56% of the company's stock.

ScanSource Stock Up 3.8 %

NASDAQ:SCSC traded up $1.72 during mid-day trading on Friday, hitting $47.41. The company had a trading volume of 137,993 shares, compared to its average volume of 217,074. The business has a fifty day simple moving average of $48.06 and a 200-day simple moving average of $45.87. The company has a current ratio of 2.10, a quick ratio of 1.33 and a debt-to-equity ratio of 0.15. ScanSource, Inc. has a 1 year low of $27.86 and a 1 year high of $53.28. The firm has a market capitalization of $1.17 billion, a price-to-earnings ratio of 15.00, a PEG ratio of 1.47 and a beta of 1.41.

ScanSource (NASDAQ:SCSC - Get Free Report) last released its quarterly earnings data on Tuesday, August 27th. The industrial products company reported $0.80 EPS for the quarter, missing the consensus estimate of $0.93 by ($0.13). ScanSource had a net margin of 2.36% and a return on equity of 8.32%. The company had revenue of $746.11 million during the quarter, compared to analysts' expectations of $838.60 million. During the same period last year, the business earned $0.76 earnings per share. The company's revenue for the quarter was down 21.2% compared to the same quarter last year. Equities analysts forecast that ScanSource, Inc. will post 3.24 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.