ScanSource, Inc. (SCSC) Stake Lowered by Geode Capital Management LLC

Geode Capital Management LLC lessened its position in ScanSource, Inc. (NASDAQ:SCSC) by 10.2% during the 4th quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 341,416 shares of the industrial products company’s stock after selling 38,650 shares during the period. Geode Capital Management LLC owned about 1.34% of ScanSource worth $12,222,000 as of its most recent filing with the SEC.

Several other large investors have also recently modified their holdings of SCSC. BlackRock Inc. raised its holdings in shares of ScanSource by 3.4% in the fourth quarter. BlackRock Inc. now owns 3,242,376 shares of the industrial products company’s stock valued at $116,078,000 after buying an additional 107,368 shares during the last quarter. Pzena Investment Management LLC raised its holdings in shares of ScanSource by 1.3% in the fourth quarter. Pzena Investment Management LLC now owns 1,335,617 shares of the industrial products company’s stock valued at $47,815,000 after buying an additional 17,689 shares during the last quarter. LSV Asset Management raised its holdings in shares of ScanSource by 1.1% in the fourth quarter. LSV Asset Management now owns 902,910 shares of the industrial products company’s stock valued at $32,324,000 after buying an additional 10,183 shares during the last quarter. Fenimore Asset Management Inc. raised its holdings in shares of ScanSource by 1.5% in the fourth quarter. Fenimore Asset Management Inc. now owns 309,525 shares of the industrial products company’s stock valued at $11,081,000 after buying an additional 4,455 shares during the last quarter. Finally, Schwab Charles Investment Management Inc. raised its holdings in shares of ScanSource by 7.5% in the fourth quarter. Schwab Charles Investment Management Inc. now owns 306,857 shares of the industrial products company’s stock valued at $10,986,000 after buying an additional 21,395 shares during the last quarter. Institutional investors own 96.38% of the company’s stock.

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A number of research analysts recently issued reports on the company. BidaskClub raised ScanSource from a “sell” rating to a “hold” rating in a report on Wednesday. Northcoast Research raised ScanSource from a “neutral” rating to a “buy” rating and set a $43.00 price target for the company in a report on Monday, March 26th. Zacks Investment Research raised ScanSource from a “sell” rating to a “hold” rating in a report on Wednesday, January 10th. Finally, ValuEngine cut ScanSource from a “buy” rating to a “hold” rating in a report on Friday, February 2nd. Three research analysts have rated the stock with a hold rating and one has given a buy rating to the stock. ScanSource currently has an average rating of “Hold” and a consensus target price of $40.50.

ScanSource stock opened at $33.50 on Friday. The company has a debt-to-equity ratio of 0.42, a current ratio of 2.15 and a quick ratio of 1.26. ScanSource, Inc. has a 12-month low of $31.40 and a 12-month high of $45.35. The stock has a market capitalization of $884.77, a P/E ratio of 12.18, a price-to-earnings-growth ratio of 3.65 and a beta of 1.01.

ScanSource (NASDAQ:SCSC) last announced its quarterly earnings data on Tuesday, February 6th. The industrial products company reported $0.90 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.80 by $0.10. The firm had revenue of $1.03 billion during the quarter, compared to analysts’ expectations of $965.15 million. ScanSource had a return on equity of 9.06% and a net margin of 1.18%. The company’s quarterly revenue was up 14.1% compared to the same quarter last year. During the same period in the previous year, the business posted $0.75 EPS. sell-side analysts predict that ScanSource, Inc. will post 3.16 EPS for the current fiscal year.

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About ScanSource

ScanSource, Inc is a provider of technology products and solutions. The Company and its subsidiaries provide solutions for technology manufacturers and sell to resellers in technology markets, such as point-of-sale (POS) and Barcode, Networking and Security, Communications and Emerging Technologies. It operates through two segments: Worldwide Barcode & Security and Worldwide Communications & Services.

Institutional Ownership by Quarter for ScanSource (NASDAQ:SCSC)

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