Virginia Retirement Systems ET AL bought a new stake in ScanSource Inc. (NASDAQ:SCSC) during the second quarter, Holdings Channel reports. The fund bought 15,000 shares of the company’s stock, valued at approximately $557,000. Virginia Retirement Systems ET AL owned approximately 0.06% of ScanSource at the end of the most recent reporting period.
Other large investors also recently added to or reduced their stakes in the company. PineBridge Investments L.P. boosted its stake 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 in the last quarter. Dynamic Technology Lab Private Ltd acquired a new position in shares of ScanSource during the second quarter worth $582,000. Vanguard Group Inc. boosted its position in shares of ScanSource by 1.4% in the second quarter. Vanguard Group Inc. now owns 2,070,143 shares of the company’s stock worth $76,823,000 after buying an additional 28,514 shares during the period. Principal Financial Group Inc. boosted its position in shares of ScanSource by 0.6% in the second quarter. Principal Financial Group Inc. now owns 186,712 shares of the company’s stock worth $6,929,000 after buying an additional 1,201 shares during the period. Finally, Dimensional Fund Advisors LP boosted its position in shares of ScanSource by 8.0% in the second quarter. Dimensional Fund Advisors LP now owns 2,179,401 shares of the company’s stock worth $80,877,000 after buying an additional 160,822 shares during the period. 96.91% of the stock is currently owned by institutional investors and hedge funds.
Shares of ScanSource Inc. (NASDAQ:SCSC) opened at 37.16 on Thursday. The stock has a market cap of $952.23 million, a price-to-earnings ratio of 15.61 and a beta of 1.24. ScanSource Inc. has a 1-year low of $27.46 and a 1-year high of $43.49. The stock’s 50 day moving average is $37.45 and its 200-day moving average is $39.10.
ScanSource (NASDAQ:SCSC) last posted its quarterly earnings data 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 company had revenue of $887.50 million for the quarter. ScanSource had a return on equity of 9.47% and a net margin of 1.80%. The company’s revenue for the quarter was up 3.6% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.66 EPS. On average, analysts anticipate that ScanSource Inc. will post $2.89 EPS for the current year.
SCSC has been the topic of a number of recent research reports. Zacks Investment Research cut shares of ScanSource from a “hold” rating to a “sell” rating in a research report on Tuesday, July 5th. Raymond James Financial Inc. reduced their price target on shares of ScanSource from $44.00 to $42.00 and set an “outperform” rating on the stock in a research report on Tuesday, August 30th.
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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