Mackenzie Financial Corp Reduces Stake in ScanSource, Inc. (NASDAQ:SCSC)

Mackenzie Financial Corp lessened its stake in shares of ScanSource, Inc. (NASDAQ:SCSC) by 17.4% during the 4th quarter, Holdings Channel reports. The fund owned 9,198 shares of the industrial products company’s stock after selling 1,940 shares during the quarter. Mackenzie Financial Corp’s holdings in ScanSource were worth $364,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently modified their holdings of the company. Mirae Asset Global Investments Co. Ltd. increased its stake in ScanSource by 5.0% during the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 11,361 shares of the industrial products company’s stock worth $450,000 after acquiring an additional 538 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank grew its holdings in shares of ScanSource by 23.3% during the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 5,473 shares of the industrial products company’s stock worth $166,000 after purchasing an additional 1,034 shares during the period. Gladius Capital Management LP purchased a new position in shares of ScanSource during the 3rd quarter worth $36,000. First Hawaiian Bank grew its holdings in shares of ScanSource by 13.7% during the 4th quarter. First Hawaiian Bank now owns 21,321 shares of the industrial products company’s stock worth $845,000 after purchasing an additional 2,574 shares during the period. Finally, New York State Common Retirement Fund grew its holdings in shares of ScanSource by 18.1% during the 3rd quarter. New York State Common Retirement Fund now owns 22,654 shares of the industrial products company’s stock worth $687,000 after purchasing an additional 3,475 shares during the period. Institutional investors and hedge funds own 97.91% of the company’s stock.

ScanSource Stock Performance

NASDAQ SCSC opened at $41.97 on Friday. The stock has a market cap of $1.06 billion, a PE ratio of 12.06, a P/E/G ratio of 1.24 and a beta of 1.51. 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 twelve month low of $26.14 and a twelve month high of $45.10. The stock has a fifty day simple moving average of $42.35 and a 200-day simple moving average of $38.10.

ScanSource (NASDAQ:SCSC) last released 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 business had revenue of $884.79 million for the quarter, compared to analysts’ expectations of $943.10 million. ScanSource had a return on equity of 9.18% and a net margin of 2.45%. The business’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 company posted $1.06 earnings per share. Equities analysts anticipate that ScanSource, Inc. will post 3.39 earnings per share for the current year.

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.