ScanSource, Inc. (NASDAQ:SCSC) Shares Sold by Assenagon Asset Management S.A.

Assenagon Asset Management S.A. cut its position in ScanSource, Inc. (NASDAQ:SCSC - Free Report) by 13.5% in the third quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 87,757 shares of the industrial products company's stock after selling 13,739 shares during the quarter. Assenagon Asset Management S.A. owned approximately 0.37% of ScanSource worth $4,215,000 at the end of the most recent reporting period.

Other large investors have also made changes to their positions in the company. Vanguard Group Inc. lifted its holdings in shares of ScanSource by 1.2% during the first quarter. Vanguard Group Inc. now owns 3,479,683 shares of the industrial products company's stock worth $153,245,000 after purchasing an additional 40,264 shares during the period. Pacer Advisors Inc. grew its position in ScanSource by 54.2% during the second quarter. Pacer Advisors Inc. now owns 2,319,469 shares of the industrial products company's stock valued at $102,776,000 after buying an additional 815,240 shares during the period. Dimensional Fund Advisors LP increased its holdings in ScanSource by 2.0% in the second quarter. Dimensional Fund Advisors LP now owns 1,983,625 shares of the industrial products company's stock valued at $87,894,000 after buying an additional 39,533 shares in the last quarter. American Century Companies Inc. raised its position in shares of ScanSource by 75.5% in the second quarter. American Century Companies Inc. now owns 521,127 shares of the industrial products company's stock worth $23,091,000 after acquiring an additional 224,160 shares during the period. Finally, Bank of New York Mellon Corp boosted its stake in shares of ScanSource by 1.5% during the 2nd quarter. Bank of New York Mellon Corp now owns 208,727 shares of the industrial products company's stock worth $9,249,000 after acquiring an additional 3,167 shares in the last quarter. 97.91% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

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

ScanSource Price Performance

Shares of SCSC stock traded down $1.27 during trading hours on Wednesday, reaching $44.28. The company had a trading volume of 150,581 shares, compared to its average volume of 210,071. ScanSource, Inc. has a 12-month low of $27.86 and a 12-month high of $53.28. The company has a market capitalization of $1.06 billion, a price-to-earnings ratio of 14.57, a PEG ratio of 1.39 and a beta of 1.41. The stock has a fifty day moving average of $47.68 and a 200-day moving average of $46.55. The company has a debt-to-equity ratio of 0.15, a quick ratio of 1.33 and a current ratio of 2.10.

ScanSource (NASDAQ:SCSC - Get Free Report) last issued its quarterly earnings data 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). ScanSource had a return on equity of 8.32% and a net margin of 2.36%. The business had revenue of $746.11 million during the quarter, compared to analysts' expectations of $838.60 million. During the same quarter in the previous year, the company posted $0.76 earnings per share. The company's revenue was down 21.2% on a year-over-year basis. On average, equities analysts anticipate that ScanSource, Inc. will post 3.24 earnings per share for the current year.

ScanSource Profile

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.