Royce & Associates LP Has $1.03 Million Stake in ScanSource, Inc. (NASDAQ:SCSC)

Royce & Associates LP increased its position in shares of ScanSource, Inc. (NASDAQ:SCSC - Free Report) by 177.3% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 21,432 shares of the industrial products company's stock after acquiring an additional 13,703 shares during the period. Royce & Associates LP owned about 0.09% of ScanSource worth $1,029,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also added to or reduced their stakes in SCSC. SG Americas Securities LLC acquired a new stake in shares of ScanSource in the 1st quarter valued at approximately $128,000. Swiss National Bank increased its holdings in shares of ScanSource by 1.2% during the first quarter. Swiss National Bank now owns 49,600 shares of the industrial products company's stock worth $2,184,000 after buying an additional 600 shares in the last quarter. Russell Investments Group Ltd. lifted its stake in shares of ScanSource by 10.8% in the 1st quarter. Russell Investments Group Ltd. now owns 31,188 shares of the industrial products company's stock valued at $1,374,000 after acquiring an additional 3,034 shares during the last quarter. ProShare Advisors LLC bought a new position in shares of ScanSource in the 1st quarter valued at $220,000. Finally, State Board of Administration of Florida Retirement System boosted its holdings in shares of ScanSource by 56.7% during the 1st quarter. State Board of Administration of Florida Retirement System now owns 11,270 shares of the industrial products company's stock valued at $496,000 after acquiring an additional 4,080 shares in the last quarter. 97.91% of the stock is owned by institutional investors.

Insider Buying and Selling at ScanSource

In other news, CEO Michael L. Baur sold 15,081 shares of the company's stock in a transaction 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 sale, the chief executive officer now directly owns 177,760 shares of the company's stock, valued at approximately $8,811,563.20. This represents a 7.82 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Insiders own 4.20% of the company's stock.

ScanSource Price Performance

SCSC stock opened at $49.14 on Thursday. The company has a market capitalization of $1.17 billion, a P/E ratio of 15.75, a PEG ratio of 1.40 and a beta of 1.42. The company has a fifty day moving average price of $47.60 and a 200-day moving average price of $47.23. The company has a debt-to-equity ratio of 0.15, a quick ratio of 1.27 and a current ratio of 2.03. ScanSource, Inc. has a 52-week low of $31.01 and a 52-week high of $53.76.

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

Analysts Set New Price Targets

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

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.