Assenagon Asset Management S.A. Makes New Investment in ScanSource, Inc. (NASDAQ:SCSC)

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Assenagon Asset Management S.A. acquired a new position in shares of ScanSource, Inc. (NASDAQ:SCSC) during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund acquired 11,558 shares of the industrial products company’s stock, valued at approximately $278,000.

A number of other institutional investors and hedge funds have also recently bought and sold shares of SCSC. Advisor Group Holdings Inc. purchased a new position in ScanSource during the 1st quarter worth $25,000. SG Americas Securities LLC raised its stake in shares of ScanSource by 40.4% during the 1st quarter. SG Americas Securities LLC now owns 9,108 shares of the industrial products company’s stock worth $195,000 after purchasing an additional 2,620 shares during the period. Pacer Advisors Inc. bought a new stake in shares of ScanSource during the 1st quarter worth $203,000. Seizert Capital Partners LLC bought a new stake in shares of ScanSource during the 1st quarter worth $222,000. Finally, Trexquant Investment LP bought a new stake in shares of ScanSource during the 1st quarter worth $244,000. 94.46% of the stock is currently owned by hedge funds and other institutional investors.

A number of equities research analysts have recently commented on SCSC shares. Zacks Investment Research cut ScanSource from a “hold” rating to a “sell” rating in a research note on Saturday, July 25th. Raymond James lowered their target price on ScanSource from $37.00 to $33.00 and set an “outperform” rating on the stock in a research note on Tuesday, May 12th. BidaskClub upgraded ScanSource from a “sell” rating to a “hold” rating in a research note on Wednesday, July 1st. Finally, ValuEngine upgraded ScanSource from a “sell” rating to a “hold” rating in a research note on Wednesday. One analyst has rated the stock with a sell rating, two have given a hold rating and one has given a buy rating to the stock. ScanSource has a consensus rating of “Hold” and an average price target of $29.50.

Shares of ScanSource stock opened at $22.95 on Friday. ScanSource, Inc. has a 52-week low of $13.78 and a 52-week high of $39.01. The stock’s 50-day simple moving average is $23.39 and its 200 day simple moving average is $25.61. The stock has a market capitalization of $586.50 million, a P/E ratio of 9.00 and a beta of 1.29. The company has a debt-to-equity ratio of 0.35, a quick ratio of 1.00 and a current ratio of 1.86.

ScanSource (NASDAQ:SCSC) last announced its quarterly earnings data on Monday, May 11th. The industrial products company reported $0.37 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.42 by ($0.05). ScanSource had a net margin of 0.94% and a return on equity of 7.19%. The firm had revenue of $872.50 million during the quarter, compared to the consensus estimate of $737.85 million. During the same quarter in the prior year, the firm posted $0.77 earnings per share. The company’s revenue was down 2.3% on a year-over-year basis. Equities research analysts forecast that ScanSource, Inc. will post 2.08 EPS for the current fiscal year.

ScanSource Company Profile

ScanSource, Inc distributes technology products and solutions in North America, Latin America, and Europe. It operates in two segments, Worldwide Barcode, Networking & Security (WW Barcode, Networking & Security); and Worldwide Communications & Services (WW Communications & Services).

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Institutional Ownership by Quarter for ScanSource (NASDAQ:SCSC)

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