Harbor Capital Advisors Inc. Sells 4,637 Shares of ScanSource, Inc. (NASDAQ:SCSC)

Harbor Capital Advisors Inc. lowered its position in shares of ScanSource, Inc. (NASDAQ:SCSC) by 46.1% in the first quarter, according to its most recent disclosure with the SEC. The institutional investor owned 5,427 shares of the industrial products company’s stock after selling 4,637 shares during the quarter. Harbor Capital Advisors Inc.’s holdings in ScanSource were worth $185,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently modified their holdings of SCSC. Versant Capital Management Inc lifted its holdings in shares of ScanSource by 88.4% during the first quarter. Versant Capital Management Inc now owns 863 shares of the industrial products company’s stock worth $29,000 after buying an additional 405 shares in the last quarter. Quarry LP lifted its holdings in shares of ScanSource by 948.7% during the fourth quarter. Quarry LP now owns 797 shares of the industrial products company’s stock worth $38,000 after buying an additional 721 shares in the last quarter. New Age Alpha Advisors LLC acquired a new stake in shares of ScanSource during the fourth quarter worth $64,000. Point72 Asset Management L.P. acquired a new stake in shares of ScanSource during the fourth quarter worth $81,000. Finally, Picton Mahoney Asset Management lifted its holdings in shares of ScanSource by 50.9% during the fourth quarter. Picton Mahoney Asset Management now owns 2,246 shares of the industrial products company’s stock worth $106,000 after buying an additional 758 shares in the last quarter. Institutional investors and hedge funds own 97.91% of the company’s stock.

ScanSource Trading Down 2.2%

SCSC opened at $40.44 on Monday. ScanSource, Inc. has a twelve month low of $28.75 and a twelve month high of $53.90. The company has a 50-day simple moving average of $36.89 and a 200 day simple moving average of $40.74. The company has a quick ratio of 1.30, a current ratio of 2.11 and a debt-to-equity ratio of 0.15. The stock has a market capitalization of $913.78 million, a price-to-earnings ratio of 15.98, a P/E/G ratio of 1.14 and a beta of 1.38.

ScanSource (NASDAQ:SCSC) last posted its quarterly earnings data on Thursday, May 8th. The industrial products company reported $0.86 earnings per share for the quarter, topping the consensus estimate of $0.77 by $0.09. ScanSource had a net margin of 2.08% and a return on equity of 8.55%. The business had revenue of $704.23 million during the quarter, compared to analysts’ expectations of $809.17 million. During the same quarter in the prior year, the business posted $0.69 earnings per share. ScanSource’s revenue was down 6.3% compared to the same quarter last year. Analysts predict that ScanSource, Inc. will post 3.33 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently weighed in on SCSC shares. Northcoast Research raised ScanSource from a “neutral” rating to a “buy” rating and set a $42.00 target price for the company in a report on Tuesday, May 6th. Wall Street Zen downgraded ScanSource from a “buy” rating to a “hold” rating in a report on Saturday.

Insider Buying and Selling

In other ScanSource news, CFO Stephen Jones sold 2,000 shares of the business’s stock in a transaction dated Friday, March 21st. The stock was sold at an average price of $36.14, for a total transaction of $72,280.00. Following the completion of the transaction, the chief financial officer now owns 69,816 shares of the company’s stock, valued at approximately $2,523,150.24. The trade was a 2.78% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 4.20% of the stock is currently owned by company insiders.

ScanSource Company 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.