New York State Teachers Retirement System Cuts Stock Position in ScanSource, Inc. (NASDAQ:SCSC)

New York State Teachers Retirement System decreased its holdings in shares of ScanSource, Inc. (NASDAQ:SCSC) by 1.3% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 53,397 shares of the industrial products company’s stock after selling 708 shares during the quarter. New York State Teachers Retirement System’s holdings in ScanSource were worth $2,115,000 as of its most recent SEC filing.

A number of other large investors have also modified their holdings of the business. Pacer Advisors Inc. purchased a new stake in shares of ScanSource during the fourth quarter worth $23,236,000. Raymond James & Associates purchased a new stake in shares of ScanSource during the fourth quarter worth $1,748,000. Profit Investment Management LLC grew its holdings in shares of ScanSource by 8.3% during the fourth quarter. Profit Investment Management LLC now owns 118,355 shares of the industrial products company’s stock worth $4,688,000 after buying an additional 9,075 shares in the last quarter. First Hawaiian Bank grew its holdings in shares of ScanSource by 13.7% during the fourth quarter. First Hawaiian Bank now owns 21,321 shares of the industrial products company’s stock worth $845,000 after buying an additional 2,574 shares in the last quarter. Finally, Gladius Capital Management LP purchased a new stake in shares of ScanSource during the third quarter worth $36,000. Hedge funds and other institutional investors own 97.91% of the company’s stock.

ScanSource Trading Down 0.5 %

Shares of SCSC opened at $40.37 on Wednesday. The company has a current ratio of 2.30, a quick ratio of 1.36 and a debt-to-equity ratio of 0.17. ScanSource, Inc. has a 12-month low of $26.14 and a 12-month high of $45.10. The firm has a 50-day moving average price of $42.12 and a 200 day moving average price of $37.60. The firm has a market capitalization of $1.02 billion, a P/E ratio of 11.60, a P/E/G ratio of 1.20 and a beta of 1.51.

ScanSource (NASDAQ:SCSC) last announced its quarterly earnings data on Tuesday, February 6th. The industrial products company reported $0.85 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.99 by ($0.14). ScanSource had a net margin of 2.45% and a return on equity of 9.18%. The firm had revenue of $884.79 million during the quarter, compared to analysts’ expectations of $943.10 million. During the same period in the prior year, the company posted $1.06 EPS. The company’s revenue for the quarter was down 12.5% compared to the same quarter last year. Sell-side analysts forecast that ScanSource, Inc. will post 3.39 EPS for the current year.

Analyst Upgrades and Downgrades

SCSC has been the subject of a number of research reports. Northcoast Research lowered shares of ScanSource from a “buy” rating to a “neutral” rating and set a $36.00 target price for the company. in a report on Tuesday, December 19th. StockNews.com lowered shares of ScanSource from a “buy” rating to a “hold” rating in a report on Wednesday, December 20th.

ScanSource Profile

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.