Assenagon Asset Management S.A. Has $8.90 Million Stake in ScanSource, Inc. (NASDAQ:SCSC)

Assenagon Asset Management S.A. decreased its stake in ScanSource, Inc. (NASDAQ:SCSCFree Report) by 7.4% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 224,604 shares of the industrial products company’s stock after selling 18,015 shares during the quarter. Assenagon Asset Management S.A.’s holdings in ScanSource were worth $8,897,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also recently added to or reduced their stakes in the stock. Teachers Retirement System of The State of Kentucky lifted its stake in ScanSource by 5.8% in the second quarter. Teachers Retirement System of The State of Kentucky now owns 8,039 shares of the industrial products company’s stock valued at $238,000 after buying an additional 442 shares during the period. Yousif Capital Management LLC lifted its stake in ScanSource by 2.0% in the first quarter. Yousif Capital Management LLC now owns 23,675 shares of the industrial products company’s stock valued at $824,000 after buying an additional 455 shares during the period. Price T Rowe Associates Inc. MD lifted its stake in ScanSource by 3.7% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 12,923 shares of the industrial products company’s stock valued at $378,000 after buying an additional 456 shares during the period. American Century Companies Inc. lifted its stake in ScanSource by 3.0% in the first quarter. American Century Companies Inc. now owns 19,108 shares of the industrial products company’s stock valued at $582,000 after buying an additional 554 shares during the period. Finally, Lazard Asset Management LLC lifted its stake in ScanSource by 12.9% in the fourth quarter. Lazard Asset Management LLC now owns 5,225 shares of the industrial products company’s stock valued at $152,000 after buying an additional 599 shares during the period. Institutional investors and hedge funds own 97.91% of the company’s stock.

Insider Buying and Selling at ScanSource

In other ScanSource news, CEO Michael L. Baur sold 30,677 shares of the firm’s stock in a transaction that occurred on Wednesday, January 10th. The stock was sold at an average price of $37.99, for a total value of $1,165,419.23. Following the completion of the transaction, the chief executive officer now directly owns 127,133 shares in the company, valued at $4,829,782.67. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Corporate insiders own 4.56% of the company’s stock.

Wall Street Analysts Forecast Growth

SCSC has been the subject of several recent analyst reports. StockNews.com downgraded ScanSource from a “buy” rating to a “hold” rating in a report on Wednesday, December 20th. Northcoast Research downgraded ScanSource from a “buy” rating to a “neutral” rating and set a $36.00 price objective for the company. in a report on Tuesday, December 19th.

Get Our Latest Stock Analysis on ScanSource

ScanSource Stock Up 0.7 %

SCSC stock opened at $44.04 on Friday. The company has a quick ratio of 1.36, a current ratio of 2.30 and a debt-to-equity ratio of 0.17. The business has a 50 day moving average price of $41.54 and a two-hundred day moving average price of $36.53. The company has a market cap of $1.11 billion, a price-to-earnings ratio of 12.66, a P/E/G ratio of 1.29 and a beta of 1.51. ScanSource, Inc. has a twelve month low of $26.14 and a twelve month high of $45.10.

ScanSource (NASDAQ:SCSCGet Free Report) last posted its quarterly earnings results on Tuesday, February 6th. The industrial products company reported $0.85 earnings per share for the quarter, missing analysts’ consensus estimates of $0.99 by ($0.14). The company had revenue of $884.79 million during the quarter, compared to the consensus estimate of $943.10 million. ScanSource had a net margin of 2.45% and a return on equity of 9.18%. The firm’s revenue for the quarter was down 12.5% compared to the same quarter last year. During the same quarter in the prior year, the business earned $1.06 earnings per share. Analysts anticipate that ScanSource, Inc. will post 3.39 EPS for the current fiscal year.

ScanSource Profile

(Free Report)

ScanSource, Inc distributes technology products and solutions in the United States, Canada, and internationally. 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.

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Institutional Ownership by Quarter for ScanSource (NASDAQ:SCSC)

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