Martingale Asset Management L P Has $2.79 Million Position in ScanSource, Inc. (NASDAQ:SCSC)

Martingale Asset Management L P boosted its position in ScanSource, Inc. (NASDAQ:SCSC) by 0.6% during the third quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 58,169 shares of the industrial products company’s stock after buying an additional 340 shares during the quarter. Martingale Asset Management L P owned approximately 0.24% of ScanSource worth $2,794,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also bought and sold shares of the company. The Manufacturers Life Insurance Company raised its holdings in shares of ScanSource by 26.0% in the third quarter. The Manufacturers Life Insurance Company now owns 11,899 shares of the industrial products company’s stock valued at $572,000 after purchasing an additional 2,459 shares during the last quarter. Dynamic Technology Lab Private Ltd increased its stake in ScanSource by 97.4% in the 3rd quarter. Dynamic Technology Lab Private Ltd now owns 33,939 shares of the industrial products company’s stock valued at $1,630,000 after buying an additional 16,746 shares during the last quarter. Pacer Advisors Inc. lifted its position in ScanSource by 18.3% during the 3rd quarter. Pacer Advisors Inc. now owns 2,744,702 shares of the industrial products company’s stock worth $131,828,000 after buying an additional 425,233 shares in the last quarter. Intech Investment Management LLC acquired a new position in shares of ScanSource during the 3rd quarter worth about $337,000. Finally, B. Metzler seel. Sohn & Co. Holding AG bought a new position in shares of ScanSource in the 3rd quarter valued at about $1,270,000. Institutional investors and hedge funds own 97.91% of the company’s stock.

ScanSource Price Performance

NASDAQ:SCSC opened at $50.41 on Friday. The stock has a market capitalization of $1.20 billion, a PE ratio of 16.16, a P/E/G ratio of 1.44 and a beta of 1.42. ScanSource, Inc. has a 1-year low of $31.01 and a 1-year high of $53.76. The firm has a fifty day simple moving average of $48.08 and a 200 day simple moving average of $47.45. The company has a current ratio of 2.03, a quick ratio of 1.27 and a debt-to-equity ratio of 0.15.

ScanSource (NASDAQ:SCSC) last released its quarterly earnings data 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 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 period in the previous year, the business earned $0.74 EPS. ScanSource’s revenue for the quarter was down 11.5% compared to the same quarter last year. On average, research analysts expect that ScanSource, Inc. will post 3.51 EPS for the current fiscal year.

Wall Street Analyst Weigh In

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

Insider Buying and Selling at ScanSource

In other ScanSource news, CEO Michael L. Baur sold 29,617 shares of the company’s stock in a transaction on Thursday, November 14th. The shares were sold at an average price of $49.20, for a total value of $1,457,156.40. Following the transaction, the chief executive officer now directly owns 177,760 shares in the company, valued at $8,745,792. The trade was a 14.28 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Insiders have sold 53,010 shares of company stock worth $2,611,843 over the last 90 days. 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.