Empowered Funds LLC Has $6.23 Million Stock Position in ScanSource, Inc. (NASDAQ:SCSC)

Empowered Funds LLC lifted its holdings in ScanSource, Inc. (NASDAQ:SCSC) by 5.3% during the 3rd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 129,713 shares of the industrial products company’s stock after acquiring an additional 6,566 shares during the period. Empowered Funds LLC owned approximately 0.54% of ScanSource worth $6,230,000 as of its most recent filing with the SEC.

A number of other hedge funds have also bought and sold shares of SCSC. Vanguard Group Inc. grew its position in shares of ScanSource by 1.2% during the 1st quarter. Vanguard Group Inc. now owns 3,479,683 shares of the industrial products company’s stock worth $153,245,000 after purchasing an additional 40,264 shares in the last quarter. Pacer Advisors Inc. grew its stake in ScanSource by 54.2% during the second quarter. Pacer Advisors Inc. now owns 2,319,469 shares of the industrial products company’s stock worth $102,776,000 after buying an additional 815,240 shares in the last quarter. Dimensional Fund Advisors LP increased its holdings in ScanSource by 2.0% in the 2nd quarter. Dimensional Fund Advisors LP now owns 1,983,625 shares of the industrial products company’s stock valued at $87,894,000 after buying an additional 39,533 shares during the period. American Century Companies Inc. lifted its holdings in shares of ScanSource by 75.5% during the 2nd 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 period. Finally, Bank of New York Mellon Corp increased its stake in ScanSource by 1.5% in the second quarter. Bank of New York Mellon Corp now owns 208,727 shares of the industrial products company’s stock valued at $9,249,000 after acquiring an additional 3,167 shares during the last quarter. 97.91% of the stock is owned by institutional investors.

ScanSource Stock Down 1.1 %

SCSC stock opened at $48.89 on Friday. The stock has a market capitalization of $1.16 billion, a P/E ratio of 15.67, a price-to-earnings-growth ratio of 1.39 and a beta of 1.42. The company has a current ratio of 2.03, a quick ratio of 1.27 and a debt-to-equity ratio of 0.15. The firm has a 50-day moving average price of $47.33 and a 200-day moving average price of $47.08. ScanSource, Inc. has a 12 month low of $31.01 and a 12 month high of $53.76.

ScanSource (NASDAQ:SCSC) last issued its earnings results on Thursday, November 7th. The industrial products company reported $0.84 earnings per share for the quarter, beating analysts’ consensus estimates of $0.77 by $0.07. The firm had revenue of $775.58 million for the quarter, compared to analyst estimates of $774.90 million. ScanSource had a net margin of 2.49% and a return on equity of 8.53%. The company’s quarterly revenue was down 11.5% on a year-over-year basis. During the same quarter last year, the business posted $0.74 earnings per share. As a group, equities research analysts anticipate that ScanSource, Inc. will post 3.51 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

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

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.