Louisiana State Employees Retirement System Sells 1,400 Shares of ScanSource, Inc. (NASDAQ:SCSC)

Louisiana State Employees Retirement System reduced its position in ScanSource, Inc. (NASDAQ:SCSC) by 11.3% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 11,000 shares of the industrial products company’s stock after selling 1,400 shares during the quarter. Louisiana State Employees Retirement System’s holdings in ScanSource were worth $528,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Raymond James & Associates raised its position in ScanSource by 5.1% in the 3rd quarter. Raymond James & Associates now owns 99,963 shares of the industrial products company’s stock worth $4,801,000 after purchasing an additional 4,877 shares during the period. Exchange Traded Concepts LLC raised its position 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 worth $979,000 after purchasing an additional 220 shares during the period. Inspire Investing LLC purchased a new stake in ScanSource in the 3rd quarter worth about $413,000. Ritholtz Wealth Management purchased a new stake in ScanSource in the 3rd quarter worth about $441,000. Finally, SG Americas Securities LLC raised its position in ScanSource by 9.7% in the 3rd quarter. SG Americas Securities LLC now owns 6,857 shares of the industrial products company’s stock worth $329,000 after purchasing an additional 608 shares during the period. 97.91% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

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

ScanSource Stock Performance

Shares of NASDAQ:SCSC opened at $44.61 on Wednesday. The firm has a market cap of $1.07 billion, a PE ratio of 14.67, a price-to-earnings-growth ratio of 1.34 and a beta of 1.42. The firm’s 50 day simple moving average is $47.27 and its 200-day simple moving average is $46.64. ScanSource, Inc. has a one year low of $27.86 and a one year high of $53.28. The company has a debt-to-equity ratio of 0.15, a quick ratio of 1.33 and a current ratio of 2.10.

ScanSource (NASDAQ:SCSC) last issued its earnings results on Tuesday, August 27th. The industrial products company reported $0.80 EPS for the quarter, missing analysts’ consensus estimates of $0.93 by ($0.13). The company had revenue of $746.11 million for the quarter, compared to analysts’ expectations of $838.60 million. ScanSource had a return on equity of 8.32% and a net margin of 2.36%. The business’s revenue was down 21.2% compared to the same quarter last year. During the same period last year, the business posted $0.76 earnings per share. As a group, equities analysts predict that ScanSource, Inc. will post 3.24 EPS 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.