State Street Corp Trims Holdings in ScanSource, Inc. (NASDAQ:SCSC)

State Street Corp lessened its position in shares of ScanSource, Inc. (NASDAQ:SCSC - Free Report) by 3.5% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 923,076 shares of the industrial products company's stock after selling 33,562 shares during the period. State Street Corp owned approximately 3.88% of ScanSource worth $44,335,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in SCSC. Royce & Associates LP grew its holdings in shares of ScanSource by 177.3% during the 3rd quarter. Royce & Associates LP now owns 21,432 shares of the industrial products company's stock worth $1,029,000 after purchasing an additional 13,703 shares during the period. Janney Montgomery Scott LLC acquired a new position in ScanSource during the third quarter valued at approximately $1,674,000. Cornercap Investment Counsel Inc. purchased a new stake in ScanSource during the second quarter worth approximately $524,000. Pacer Advisors Inc. increased its position in shares of ScanSource by 54.2% in the second quarter. Pacer Advisors Inc. now owns 2,319,469 shares of the industrial products company's stock worth $102,776,000 after acquiring an additional 815,240 shares in the last quarter. Finally, Dynamic Technology Lab Private Ltd raised its stake in shares of ScanSource by 97.4% in the 3rd quarter. Dynamic Technology Lab Private Ltd now owns 33,939 shares of the industrial products company's stock valued at $1,630,000 after acquiring an additional 16,746 shares during the period. 97.91% of the stock is currently owned by institutional investors and hedge funds.

ScanSource Stock Down 4.0 %

ScanSource stock traded down $1.97 during trading on Friday, reaching $47.58. 1,981,867 shares of the company's stock were exchanged, compared to its average volume of 216,049. ScanSource, Inc. has a 52-week low of $31.01 and a 52-week high of $53.90. The firm has a market cap of $1.13 billion, a price-to-earnings ratio of 15.25, a PEG ratio of 1.50 and a beta of 1.44. The company has a debt-to-equity ratio of 0.15, a quick ratio of 1.27 and a current ratio of 2.03. The company's 50-day moving average is $49.33 and its two-hundred day moving average is $47.72.

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

Insider Buying and Selling at ScanSource

In other ScanSource news, CEO Michael L. Baur sold 8,312 shares of the business's stock in a transaction on Wednesday, November 20th. The shares were sold at an average price of $48.98, for a total value of $407,121.76. Following the transaction, the chief executive officer now owns 177,760 shares in the company, valued at $8,706,684.80. The trade was a 4.47 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Insiders sold 53,010 shares of company stock valued at $2,611,843 over the last 90 days. 4.20% of the stock is owned by corporate insiders.

ScanSource Company 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.