Fenimore Asset Management Inc. increased its stake in shares of ScanSource Inc. (NASDAQ:SCSC) by 11.2% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 283,675 shares of the company’s stock after buying an additional 28,625 shares during the period. Fenimore Asset Management Inc.’s holdings in ScanSource were worth $10,354,000 as of its most recent SEC filing.
A number of other large investors also recently made changes to their positions in SCSC. BlackRock Inc. increased its position in ScanSource by 202.1% in the first quarter. BlackRock Inc. now owns 2,891 shares of the company’s stock valued at $116,000 after buying an additional 1,934 shares during the period. PineBridge Investments L.P. increased its position in ScanSource by 3.5% in the second quarter. PineBridge Investments L.P. now owns 3,255 shares of the company’s stock valued at $121,000 after buying an additional 109 shares during the period. Pacad Investment Ltd. acquired a new position in ScanSource during the second quarter valued at approximately $122,000. Teacher Retirement System of Texas increased its position in ScanSource by 13.6% in the second quarter. Teacher Retirement System of Texas now owns 3,740 shares of the company’s stock valued at $139,000 after buying an additional 447 shares during the period. Finally, Mason Street Advisors LLC acquired a new position in ScanSource during the second quarter valued at approximately $186,000. Institutional investors and hedge funds own 96.91% of the company’s stock.
ScanSource Inc. (NASDAQ:SCSC) opened at 36.47 on Thursday. ScanSource Inc. has a 52 week low of $27.46 and a 52 week high of $43.49. The company has a 50 day moving average of $36.65 and a 200 day moving average of $39.01. The stock has a market capitalization of $934.54 million, a P/E ratio of 15.32 and a beta of 1.24.
ScanSource (NASDAQ:SCSC) last released its earnings results on Monday, August 29th. The company reported $0.51 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.71 by $0.20. The firm earned $887.50 million during the quarter. ScanSource had a return on equity of 9.47% and a net margin of 1.80%. The company’s quarterly revenue was up 3.6% compared to the same quarter last year. During the same period last year, the company earned $0.66 earnings per share. Equities analysts expect that ScanSource Inc. will post $2.88 EPS for the current fiscal year.
Several research analysts have commented on SCSC shares. Raymond James Financial Inc. decreased their price target on shares of ScanSource from $44.00 to $42.00 and set an “outperform” rating on the stock in a research note on Tuesday, August 30th. Zacks Investment Research raised shares of ScanSource from a “sell” rating to a “hold” rating in a research note on Tuesday, August 23rd.
ScanSource, Inc is a wholesale distributor of specialty technology products. The Company and its subsidiaries provide distribution services for technology manufacturers and sells to resellers in the specialty technology markets, such as point-of-sale (POS) and barcode, physical security and three dimensional (3D) printing and communications.
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