US Bancorp DE Sells 2,782 Shares of ScanSource, Inc. (NASDAQ:SCSC)

US Bancorp DE cut its holdings in ScanSource, Inc. (NASDAQ:SCSC) by 16.0% in the third quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 14,597 shares of the industrial products company’s stock after selling 2,782 shares during the quarter. US Bancorp DE owned 0.06% of ScanSource worth $701,000 at the end of the most recent quarter.

Several other large investors also recently bought and sold shares of the business. Vanguard Group Inc. lifted its position in ScanSource by 1.2% during the first quarter. Vanguard Group Inc. now owns 3,479,683 shares of the industrial products company’s stock valued at $153,245,000 after purchasing an additional 40,264 shares during the last quarter. Pacer Advisors Inc. lifted its holdings in shares of ScanSource by 54.2% in the 2nd quarter. Pacer Advisors Inc. now owns 2,319,469 shares of the industrial products company’s stock valued at $102,776,000 after acquiring an additional 815,240 shares during the last quarter. Dimensional Fund Advisors LP grew its position in ScanSource by 2.0% in the second quarter. Dimensional Fund Advisors LP now owns 1,983,625 shares of the industrial products company’s stock worth $87,894,000 after acquiring an additional 39,533 shares in the last quarter. American Century Companies Inc. increased its stake in ScanSource by 75.5% during the second quarter. American Century Companies Inc. now owns 521,127 shares of the industrial products company’s stock worth $23,091,000 after acquiring an additional 224,160 shares during the last quarter. Finally, Bank of New York Mellon Corp increased its stake in ScanSource by 1.5% during the second quarter. Bank of New York Mellon Corp now owns 208,727 shares of the industrial products company’s stock worth $9,249,000 after acquiring an additional 3,167 shares during the last quarter. Institutional investors own 97.91% of the company’s stock.

ScanSource Trading Up 2.3 %

Shares of SCSC opened at $51.92 on Friday. The company’s fifty day simple moving average is $47.16 and its 200-day simple moving average is $46.80. The company has a market cap of $1.25 billion, a P/E ratio of 16.64, a P/E/G ratio of 1.56 and a beta of 1.42. The company has a current ratio of 2.10, a quick ratio of 1.33 and a debt-to-equity ratio of 0.15. ScanSource, Inc. has a twelve month low of $27.86 and a twelve month high of $53.48.

ScanSource (NASDAQ:SCSC) last issued its quarterly earnings results on Thursday, November 7th. The industrial products company reported $0.84 EPS for the quarter, beating the consensus estimate of $0.77 by $0.07. ScanSource had a net margin of 2.36% and a return on equity of 8.32%. The company had revenue of $775.58 million for the quarter, compared to the consensus estimate of $774.90 million. During the same period in the prior year, the firm posted $0.74 EPS. The firm’s revenue was down 11.5% compared to the same quarter last year. As a group, analysts expect that ScanSource, Inc. will post 3.24 EPS for the current year.

Wall Street Analysts Forecast Growth

Separately, Raymond James cut ScanSource from an “outperform” rating to a “market perform” rating in a report on Thursday, August 15th.

ScanSource Profile

ScanSource, Inc engages in the distribution of technology products and solutions in the United States, Canada, and Brazil. 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.