Empowered Funds LLC Acquires 6,566 Shares of ScanSource, Inc. (NASDAQ:SCSC)

Empowered Funds LLC boosted its holdings in shares of ScanSource, Inc. (NASDAQ:SCSC) by 5.3% during the third quarter, HoldingsChannel reports. The fund owned 129,713 shares of the industrial products company’s stock after purchasing an additional 6,566 shares during the quarter. Empowered Funds LLC’s holdings in ScanSource were worth $6,230,000 at the end of the most recent quarter.

Several other large investors have also recently modified their holdings of SCSC. CWM LLC increased its holdings in ScanSource by 164.1% in the second quarter. CWM LLC now owns 647 shares of the industrial products company’s stock valued at $29,000 after purchasing an additional 402 shares during the period. nVerses Capital LLC bought a new position in shares of ScanSource during the second quarter worth about $40,000. Quest Partners LLC acquired a new position in shares of ScanSource in the second quarter worth approximately $41,000. KBC Group NV boosted its holdings in ScanSource by 59.9% in the third 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. Finally, Innealta Capital LLC acquired a new stake in ScanSource during the 2nd quarter valued at approximately $58,000. Institutional investors own 97.91% of the company’s stock.

ScanSource Stock Performance

SCSC stock opened at $48.89 on Friday. The firm has a market cap of $1.16 billion, a PE ratio of 15.67, a price-to-earnings-growth ratio of 1.39 and a beta of 1.42. The company has a current ratio of 2.03, a quick ratio of 1.27 and a debt-to-equity ratio of 0.15. The stock has a 50-day moving average price of $47.33 and a 200-day moving average price of $47.08. ScanSource, Inc. has a 1-year low of $31.01 and a 1-year high of $53.76.

ScanSource (NASDAQ:SCSC) last issued its earnings results on Thursday, November 7th. The industrial products company reported $0.84 earnings per share for the quarter, topping analysts’ consensus estimates of $0.77 by $0.07. The business had revenue of $775.58 million during the quarter, compared to the consensus estimate of $774.90 million. ScanSource had a return on equity of 8.53% and a net margin of 2.49%. The firm’s revenue for the quarter was down 11.5% on a year-over-year basis. During the same period in the previous year, the company posted $0.74 earnings per share. As a group, equities research analysts expect that ScanSource, Inc. will post 3.51 earnings per share for the current year.

Analyst Upgrades and Downgrades

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

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.