Dynamic Technology Lab Private Ltd Boosts Stock Position in ScanSource, Inc. (NASDAQ:SCSC)

Dynamic Technology Lab Private Ltd lifted its holdings in ScanSource, Inc. (NASDAQ:SCSC) by 97.4% in the third quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 33,939 shares of the industrial products company’s stock after purchasing an additional 16,746 shares during the quarter. Dynamic Technology Lab Private Ltd owned 0.14% of ScanSource worth $1,630,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Royce & Associates LP grew its holdings in shares of ScanSource by 177.3% in the third quarter. Royce & Associates LP now owns 21,432 shares of the industrial products company’s stock valued at $1,029,000 after purchasing an additional 13,703 shares in the last quarter. Janney Montgomery Scott LLC purchased a new position in ScanSource during the third quarter worth $1,674,000. Cornercap Investment Counsel Inc. purchased a new position in ScanSource during the second quarter worth $524,000. Pacer Advisors Inc. boosted 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 during the period. Finally, Vanguard Group Inc. boosted its stake in ScanSource by 1.2% during the first quarter. Vanguard Group Inc. now owns 3,479,683 shares of the industrial products company’s stock worth $153,245,000 after buying an additional 40,264 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, CEO Michael L. Baur sold 8,312 shares of ScanSource stock in a transaction on Wednesday, November 20th. The stock was sold at an average price of $48.98, for a total transaction of $407,121.76. Following the completion of the sale, the chief executive officer now directly owns 177,760 shares in the company, valued at approximately $8,706,684.80. This trade represents a 4.47 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Over the last ninety days, insiders sold 53,010 shares of company stock worth $2,611,843. 4.20% of the stock is currently owned by insiders.

Analysts Set New Price Targets

Separately, Raymond James lowered shares of ScanSource from an “outperform” rating to a “market perform” rating in a research note on Thursday, August 15th.

ScanSource Stock Up 1.3 %

NASDAQ SCSC opened at $51.77 on Tuesday. The company has a quick ratio of 1.27, a current ratio of 2.03 and a debt-to-equity ratio of 0.15. The company has a fifty day moving average of $47.78 and a two-hundred day moving average of $47.31. The firm has a market capitalization of $1.23 billion, a price-to-earnings ratio of 16.59, a PEG ratio of 1.46 and a beta of 1.42. ScanSource, Inc. has a 52 week low of $31.01 and a 52 week high of $53.76.

ScanSource (NASDAQ:SCSC) last released its earnings results on Thursday, November 7th. The industrial products company reported $0.84 earnings per share for the quarter, topping the consensus estimate 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 during the quarter, compared to the consensus estimate of $774.90 million. During the same period last year, the company earned $0.74 earnings per share. The business’s revenue for the quarter was down 11.5% compared to the same quarter last year. On average, analysts predict that ScanSource, Inc. will post 3.51 earnings per share for the current year.

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.