Everence Capital Management Inc. Sells 18,750 Shares of ScanSource, Inc. (NASDAQ:SCSC)

Everence Capital Management Inc. lowered its stake in shares of ScanSource, Inc. (NASDAQ:SCSC) by 79.1% during the 4th quarter, according to the company in its most recent filing with the SEC. The fund owned 4,950 shares of the industrial products company’s stock after selling 18,750 shares during the quarter. Everence Capital Management Inc.’s holdings in ScanSource were worth $235,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently bought and sold shares of the stock. Gladius Capital Management LP purchased a new position in ScanSource during the 3rd quarter valued at $30,000. Point72 DIFC Ltd bought a new stake in shares of ScanSource during the third quarter worth $35,000. Quest Partners LLC purchased a new stake in shares of ScanSource during the second quarter valued at $41,000. KBC Group NV grew its holdings in shares of ScanSource by 59.9% in the third quarter. KBC Group NV now owns 1,182 shares of the industrial products company’s stock worth $57,000 after purchasing an additional 443 shares during the last quarter. Finally, Systematic Financial Management LP purchased a new position in ScanSource in the 3rd quarter worth about $205,000. Hedge funds and other institutional investors own 97.91% of the company’s stock.

Insiders Place Their Bets

In related news, CAO Brandy Ford sold 1,845 shares of ScanSource stock in a transaction that occurred on Thursday, December 19th. The shares were sold at an average price of $49.38, for a total transaction of $91,106.10. Following the transaction, the chief accounting officer now directly owns 9,506 shares of the company’s stock, valued at $469,406.28. This trade represents a 16.25 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. Also, CEO Michael L. Baur sold 29,617 shares of the business’s stock in a transaction that occurred on Thursday, November 14th. The stock was sold at an average price of $49.20, for a total transaction of $1,457,156.40. Following the completion of the transaction, the chief executive officer now directly owns 177,760 shares of the company’s stock, valued at $8,745,792. This trade represents a 14.28 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 54,855 shares of company stock worth $2,702,949. 4.20% of the stock is currently owned by company insiders.

ScanSource Price Performance

ScanSource stock opened at $47.86 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. The stock has a market cap of $1.14 billion, a price-to-earnings ratio of 15.34, a price-to-earnings-growth ratio of 1.50 and a beta of 1.45. The firm has a 50-day moving average of $49.56 and a two-hundred day moving average of $47.96. ScanSource, Inc. has a 1 year low of $31.01 and a 1 year high of $53.90.

ScanSource (NASDAQ:SCSC) last posted its quarterly earnings results on Thursday, November 7th. The industrial products company reported $0.84 earnings per share for the quarter, beating the consensus estimate of $0.77 by $0.07. ScanSource had a net margin of 2.49% and a return on equity of 8.53%. The firm had revenue of $775.58 million during the quarter, compared to the consensus estimate of $774.90 million. During the same quarter in the previous year, the firm posted $0.74 earnings per share. The company’s revenue was down 11.5% on a year-over-year basis. On average, research analysts forecast 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.