ScanSource, Inc. (NASDAQ:SCSC) is Profit Investment Management LLC's 5th Largest Position

Profit Investment Management LLC lessened its holdings in ScanSource, Inc. (NASDAQ:SCSC - Free Report) by 36.8% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 70,577 shares of the industrial products company's stock after selling 41,135 shares during the quarter. ScanSource makes up about 2.7% of Profit Investment Management LLC's holdings, making the stock its 5th largest position. Profit Investment Management LLC owned 0.29% of ScanSource worth $3,390,000 at the end of the most recent quarter.

Several other large investors have also recently bought and sold shares of SCSC. EMC Capital Management boosted its stake in ScanSource by 3.5% in the first quarter. EMC Capital Management now owns 7,398 shares of the industrial products company's stock valued at $326,000 after acquiring an additional 247 shares in the last quarter. Rhumbline Advisers boosted its stake in ScanSource by 0.3% in the second quarter. Rhumbline Advisers now owns 85,720 shares of the industrial products company's stock valued at $3,798,000 after acquiring an additional 264 shares in the last quarter. The Manufacturers Life Insurance Company boosted its stake in ScanSource by 3.4% in the second quarter. The Manufacturers Life Insurance Company now owns 9,440 shares of the industrial products company's stock valued at $418,000 after acquiring an additional 308 shares in the last quarter. CWM LLC boosted its stake in ScanSource by 164.1% in the second quarter. CWM LLC now owns 647 shares of the industrial products company's stock valued at $29,000 after acquiring an additional 402 shares in the last quarter. Finally, Texas Permanent School Fund Corp boosted its stake in ScanSource by 2.1% in the first quarter. Texas Permanent School Fund Corp now owns 22,029 shares of the industrial products company's stock valued at $970,000 after acquiring an additional 461 shares in the last quarter. Hedge funds and other institutional investors own 97.91% of the company's stock.

Analyst Ratings Changes

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

ScanSource Stock Performance

Shares of SCSC traded up $0.38 during mid-day trading on Friday, hitting $48.07. 85,672 shares of the company's stock were exchanged, compared to its average volume of 215,663. ScanSource, Inc. has a fifty-two week low of $27.86 and a fifty-two week high of $53.28. The firm has a market capitalization of $1.19 billion, a P/E ratio of 15.26, a P/E/G ratio of 1.49 and a beta of 1.41. The business's 50 day moving average is $47.80 and its two-hundred day moving average is $46.09. 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 (NASDAQ:SCSC - Get Free Report) last announced its earnings results on Tuesday, August 27th. The industrial products company reported $0.80 earnings per share for the quarter, missing the consensus estimate of $0.93 by ($0.13). The business had revenue of $746.11 million for the quarter, compared to analyst estimates of $838.60 million. ScanSource had a return on equity of 8.32% and a net margin of 2.36%. ScanSource's quarterly revenue was down 21.2% on a year-over-year basis. During the same quarter last year, the company posted $0.76 EPS. On average, equities analysts expect that ScanSource, Inc. will post 3.24 earnings per share for the current 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.