Assenagon Asset Management S.A. Has $557,000 Stock Holdings in ScanSource, Inc. (NASDAQ:SCSC)

Assenagon Asset Management S.A. lessened its holdings in ScanSource, Inc. (NASDAQ:SCSC) by 75.5% in the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 16,390 shares of the industrial products company’s stock after selling 50,396 shares during the period. Assenagon Asset Management S.A. owned approximately 0.07% of ScanSource worth $557,000 at the end of the most recent quarter.

Several other hedge funds have also recently added to or reduced their stakes in SCSC. Allspring Global Investments Holdings LLC acquired a new position in ScanSource in the fourth quarter worth about $807,000. Sanctuary Advisors LLC grew its stake in ScanSource by 3.5% during the fourth quarter. Sanctuary Advisors LLC now owns 10,103 shares of the industrial products company’s stock worth $479,000 after buying an additional 338 shares during the last quarter. New York State Common Retirement Fund grew its stake in ScanSource by 11.5% during the fourth quarter. New York State Common Retirement Fund now owns 8,596 shares of the industrial products company’s stock worth $408,000 after buying an additional 887 shares during the last quarter. Versor Investments LP bought a new stake in ScanSource during the fourth quarter worth about $218,000. Finally, Bailard Inc. bought a new stake in ScanSource during the fourth quarter worth about $251,000. Institutional investors and hedge funds own 97.91% of the company’s stock.

ScanSource Price Performance

Shares of ScanSource stock opened at $40.71 on Friday. The company has a current ratio of 2.07, a quick ratio of 1.32 and a debt-to-equity ratio of 0.14. The stock has a market capitalization of $920.05 million, a price-to-earnings ratio of 14.70, a P/E/G ratio of 1.17 and a beta of 1.38. ScanSource, Inc. has a 1-year low of $28.75 and a 1-year high of $53.90. The firm’s 50-day moving average price is $37.65 and its two-hundred day moving average price is $40.58.

ScanSource (NASDAQ:SCSC) last released its quarterly earnings results on Thursday, May 8th. The industrial products company reported $0.86 EPS for the quarter, beating the consensus estimate of $0.77 by $0.09. ScanSource had a net margin of 2.27% and a return on equity of 8.96%. The business had revenue of $704.23 million for the quarter, compared to analysts’ expectations of $809.17 million. During the same period in the prior year, the firm earned $0.69 earnings per share. ScanSource’s revenue was down 6.3% compared to the same quarter last year. On average, equities analysts predict that ScanSource, Inc. will post 3.33 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Several analysts have weighed in on SCSC shares. Wall Street Zen cut shares of ScanSource from a “buy” rating to a “hold” rating in a research note on Saturday, June 14th. Northcoast Research raised shares of ScanSource from a “neutral” rating to a “buy” rating and set a $42.00 price objective on the stock in a research note on Tuesday, May 6th.

About ScanSource

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.