American Century Companies Inc. Cuts Stock Holdings in ScanSource, Inc. $SCSC

American Century Companies Inc. trimmed its holdings in ScanSource, Inc. (NASDAQ:SCSC) by 1.8% in the 3rd quarter, according to its most recent filing with the SEC. The institutional investor owned 839,076 shares of the industrial products company’s stock after selling 15,548 shares during the quarter. American Century Companies Inc. owned about 3.82% of ScanSource worth $36,911,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also bought and sold shares of the company. Amundi increased its stake in shares of ScanSource by 35.1% in the 1st quarter. Amundi now owns 26,464 shares of the industrial products company’s stock worth $836,000 after purchasing an additional 6,880 shares in the last quarter. AQR Capital Management LLC boosted its holdings in ScanSource by 3.8% in the 1st quarter. AQR Capital Management LLC now owns 128,574 shares of the industrial products company’s stock worth $4,373,000 after buying an additional 4,693 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its stake in ScanSource by 2.2% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 13,859 shares of the industrial products company’s stock worth $471,000 after buying an additional 295 shares in the last quarter. Millennium Management LLC raised its holdings in ScanSource by 8.4% during the first quarter. Millennium Management LLC now owns 259,808 shares of the industrial products company’s stock valued at $8,836,000 after acquiring an additional 20,086 shares during the period. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its stake in ScanSource by 35.3% in the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 61,513 shares of the industrial products company’s stock worth $2,092,000 after purchasing an additional 16,044 shares during the period. 97.91% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at ScanSource

In other news, Director Charles Alexander Mathis purchased 6,000 shares of the business’s stock in a transaction dated Wednesday, February 11th. The stock was acquired at an average price of $35.20 per share, for a total transaction of $211,200.00. Following the acquisition, the director directly owned 24,793 shares of the company’s stock, valued at approximately $872,713.60. This represents a 31.93% increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CFO Stephen Jones sold 5,020 shares of the company’s stock in a transaction on Thursday, December 11th. The shares were sold at an average price of $42.30, for a total value of $212,346.00. Following the completion of the transaction, the chief financial officer directly owned 83,326 shares in the company, valued at approximately $3,524,689.80. This trade represents a 5.68% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last three months, insiders have sold 25,020 shares of company stock valued at $1,035,669. Corporate insiders own 3.18% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms recently commented on SCSC. Weiss Ratings reiterated a “hold (c)” rating on shares of ScanSource in a research report on Monday, December 29th. Zacks Research downgraded ScanSource from a “hold” rating to a “strong sell” rating in a research note on Monday, February 9th. Finally, Wall Street Zen downgraded ScanSource from a “buy” rating to a “hold” rating in a research report on Saturday, January 17th. One analyst has rated the stock with a Buy rating, two have assigned a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Hold” and an average price target of $42.50.

ScanSource Stock Down 3.9%

SCSC stock opened at $36.19 on Friday. ScanSource, Inc. has a 52 week low of $28.75 and a 52 week high of $46.25. The company has a quick ratio of 1.22, a current ratio of 1.96 and a debt-to-equity ratio of 0.11. The firm has a 50-day simple moving average of $39.12 and a 200-day simple moving average of $41.15. The stock has a market capitalization of $777.36 million, a P/E ratio of 11.10, a P/E/G ratio of 0.64 and a beta of 1.29.

ScanSource (NASDAQ:SCSC) last posted its quarterly earnings data on Thursday, February 5th. The industrial products company reported $0.80 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.00 by ($0.20). The firm had revenue of $766.51 million during the quarter, compared to analyst estimates of $782.46 million. ScanSource had a return on equity of 9.35% and a net margin of 2.44%.The company’s quarterly revenue was up 2.5% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.85 earnings per share. Equities analysts forecast that ScanSource, Inc. will post 3.33 earnings per share for the current fiscal year.

ScanSource Company Profile

ScanSource, Inc is a global provider of technology products and solutions designed to help businesses enhance operational efficiency and customer engagement. The company specializes in the distribution of point-of-sale (POS) systems, barcode and data capture devices, networking and communications equipment, and value-added software and cloud services. By combining hardware, software and professional services, ScanSource supports channel partners in delivering end-to-end solutions across multiple industries, including retail, hospitality, healthcare and logistics.

Founded in 1992 and headquartered in Greenville, South Carolina, ScanSource has built a broad international footprint, serving customers throughout North, Central and South America as well as Europe, the Middle East and Africa.