ScanSource, Inc. (NASDAQ:SCSC) Shares Sold by Principal Financial Group Inc.

Principal Financial Group Inc. lowered its stake in ScanSource, Inc. (NASDAQ:SCSC - Free Report) by 15.5% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 116,189 shares of the industrial products company's stock after selling 21,277 shares during the quarter. Principal Financial Group Inc. owned about 0.49% of ScanSource worth $5,581,000 at the end of the most recent quarter.

Other hedge funds also recently bought and sold shares of the company. Pacer Advisors Inc. increased its holdings in ScanSource by 54.2% in the 2nd quarter. Pacer Advisors Inc. now owns 2,319,469 shares of the industrial products company's stock valued at $102,776,000 after purchasing an additional 815,240 shares during the last quarter. American Century Companies Inc. grew its stake 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 valued at $23,091,000 after buying an additional 224,160 shares in the last quarter. Millennium Management LLC raised its holdings in shares of ScanSource by 2,640.7% in the 2nd quarter. Millennium Management LLC now owns 136,266 shares of the industrial products company's stock valued at $6,038,000 after buying an additional 131,294 shares during the period. Wasatch Advisors LP lifted its stake in ScanSource by 13.2% during the 3rd quarter. Wasatch Advisors LP now owns 1,097,992 shares of the industrial products company's stock worth $52,737,000 after acquiring an additional 127,883 shares in the last quarter. Finally, Dimensional Fund Advisors LP boosted its holdings in ScanSource by 2.0% during the 2nd quarter. Dimensional Fund Advisors LP now owns 1,983,625 shares of the industrial products company's stock valued at $87,894,000 after acquiring an additional 39,533 shares during the period. Hedge funds and other institutional investors own 97.91% of the company's stock.

ScanSource Trading Down 0.9 %

NASDAQ:SCSC traded down $0.42 on Thursday, reaching $47.03. 136,242 shares of the company's stock were exchanged, compared to its average volume of 214,779. The firm has a market capitalization of $1.12 billion, a price-to-earnings ratio of 15.07, a price-to-earnings-growth ratio of 1.50 and a beta of 1.44. ScanSource, Inc. has a 52-week low of $31.01 and a 52-week high of $53.90. The company has a quick ratio of 1.27, a current ratio of 2.03 and a debt-to-equity ratio of 0.15. The business has a fifty day moving average of $49.34 and a 200-day moving average of $47.84.

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

Insider Buying and Selling

In related news, CEO Michael L. Baur sold 15,081 shares of ScanSource stock in a transaction that occurred on Monday, November 18th. The shares were sold at an average price of $49.57, for a total value of $747,565.17. Following the completion of the transaction, the chief executive officer now owns 177,760 shares in the company, valued at $8,811,563.20. The trade was a 7.82 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CAO Brandy Ford sold 1,845 shares of the stock in a transaction on Thursday, December 19th. The shares were sold at an average price of $49.38, for a total value of $91,106.10. Following the completion of the transaction, the chief accounting officer now directly owns 9,506 shares in the company, valued at $469,406.28. This trade represents a 16.25 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 54,855 shares of company stock valued at $2,702,949 in the last three months. 4.20% of the stock is owned by corporate insiders.

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.