Quest Partners LLC Has $64,000 Stock Holdings in ScanSource, Inc. (NASDAQ:SCSC)

Quest Partners LLC grew its holdings in ScanSource, Inc. (NASDAQ:SCSC) by 42.6% during the 3rd quarter, HoldingsChannel reports. The firm owned 1,323 shares of the industrial products company’s stock after purchasing an additional 395 shares during the quarter. Quest Partners LLC’s holdings in ScanSource were worth $64,000 at the end of the most recent reporting period.

A number of other institutional investors also recently modified their holdings of SCSC. Exchange Traded Concepts LLC lifted its stake in ScanSource by 1.1% in the 3rd quarter. Exchange Traded Concepts LLC now owns 20,387 shares of the industrial products company’s stock valued at $979,000 after purchasing an additional 220 shares during the last quarter. Rhumbline Advisers grew its stake in shares of ScanSource by 0.3% during the second quarter. Rhumbline Advisers now owns 85,720 shares of the industrial products company’s stock worth $3,798,000 after buying an additional 264 shares during the last quarter. The Manufacturers Life Insurance Company increased its holdings in shares of ScanSource by 3.4% during the second quarter. The Manufacturers Life Insurance Company now owns 9,440 shares of the industrial products company’s stock worth $418,000 after buying an additional 308 shares in the last quarter. CWM LLC lifted its stake in shares of ScanSource by 164.1% in the 2nd quarter. CWM LLC now owns 647 shares of the industrial products company’s stock valued at $29,000 after acquiring an additional 402 shares during the last quarter. Finally, KBC Group NV lifted its stake in shares of ScanSource by 59.9% in the 3rd quarter. KBC Group NV now owns 1,182 shares of the industrial products company’s stock valued at $57,000 after acquiring an additional 443 shares during the last quarter. Institutional investors and hedge funds own 97.91% of the company’s stock.

Wall Street Analyst Weigh In

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

Insiders Place Their Bets

In other ScanSource news, CEO Michael L. Baur sold 8,312 shares of the stock in a transaction that occurred on Wednesday, November 20th. The shares were 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 owns 177,760 shares of the company’s stock, valued at approximately $8,706,684.80. This represents a 4.47 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In the last three months, insiders have sold 53,010 shares of company stock valued at $2,611,843. 4.20% of the stock is currently owned by company insiders.

ScanSource Stock Down 0.2 %

NASDAQ:SCSC opened at $50.41 on Friday. ScanSource, Inc. has a one year low of $31.01 and a one year high of $53.76. The company has a debt-to-equity ratio of 0.15, a current ratio of 2.03 and a quick ratio of 1.27. The company has a market cap of $1.20 billion, a PE ratio of 16.16, a P/E/G ratio of 1.44 and a beta of 1.42. The firm’s 50 day simple moving average is $48.08 and its 200 day simple moving average is $47.45.

ScanSource (NASDAQ:SCSC) last issued its quarterly earnings results on Thursday, November 7th. The industrial products company reported $0.84 EPS for the quarter, topping analysts’ consensus estimates of $0.77 by $0.07. ScanSource had a net margin of 2.49% and a return on equity of 8.53%. The company had revenue of $775.58 million for the quarter, compared to analyst estimates of $774.90 million. During the same quarter in the previous year, the business earned $0.74 earnings per share. ScanSource’s revenue was down 11.5% compared to the same quarter last year. On average, research analysts anticipate 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.