Pacer Advisors Inc. Acquires 425,233 Shares of ScanSource, Inc. (NASDAQ:SCSC)

Pacer Advisors Inc. raised its position in shares of ScanSource, Inc. (NASDAQ:SCSC) by 18.3% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 2,744,702 shares of the industrial products company’s stock after purchasing an additional 425,233 shares during the period. Pacer Advisors Inc. owned 11.43% of ScanSource worth $131,828,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also bought and sold shares of SCSC. CWM LLC grew its holdings in ScanSource by 164.1% during the second quarter. CWM LLC now owns 647 shares of the industrial products company’s stock valued at $29,000 after purchasing an additional 402 shares during the period. Gladius Capital Management LP bought a new position in ScanSource during the third quarter valued at $30,000. nVerses Capital LLC bought a new position in ScanSource during the second quarter valued at $40,000. Quest Partners LLC bought a new position in ScanSource during the second quarter valued at $41,000. Finally, KBC Group NV lifted its position in shares of ScanSource by 59.9% during the third quarter. KBC Group NV now owns 1,182 shares of the industrial products company’s stock worth $57,000 after acquiring an additional 443 shares in the last quarter. 97.91% of the stock is owned by institutional investors.

ScanSource Trading Down 0.0 %

NASDAQ:SCSC opened at $49.14 on Thursday. The company has a debt-to-equity ratio of 0.15, a current ratio of 2.03 and a quick ratio of 1.27. ScanSource, Inc. has a 1 year low of $31.01 and a 1 year high of $53.76. The company has a market cap of $1.17 billion, a P/E ratio of 15.75, a P/E/G ratio of 1.40 and a beta of 1.42. The stock’s fifty day moving average price is $47.60 and its two-hundred day moving average price is $47.23.

ScanSource (NASDAQ:SCSC) last released its quarterly 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. ScanSource had a return on equity of 8.53% and a net margin of 2.49%. The business had revenue of $775.58 million for the quarter, compared to the consensus estimate of $774.90 million. During the same quarter last year, the business posted $0.74 earnings per share. The company’s revenue for the quarter was down 11.5% on a year-over-year basis. As a group, analysts expect that ScanSource, Inc. will post 3.51 EPS for the current year.

Wall Street Analyst Weigh In

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

Insider Buying and Selling at ScanSource

In other news, CEO Michael L. Baur sold 15,081 shares of the firm’s stock in a transaction dated Monday, November 18th. The stock was sold at an average price of $49.57, for a total transaction of $747,565.17. Following the transaction, the chief executive officer now directly owns 177,760 shares of the company’s stock, valued at approximately $8,811,563.20. This trade represents a 7.82 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Company insiders own 4.20% of the company’s stock.

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.