Pacer Advisors Inc. Acquires 425,233 Shares of ScanSource, Inc. (NASDAQ:SCSC)

Pacer Advisors Inc. raised its position in shares of ScanSource, Inc. (NASDAQ:SCSC) by 18.3% during the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 2,744,702 shares of the industrial products company’s stock after acquiring an additional 425,233 shares during the quarter. Pacer Advisors Inc. owned approximately 0.11% of ScanSource worth $131,828,000 at the end of the most recent quarter.

Other large investors have also bought and sold shares of the company. O Shaughnessy Asset Management LLC bought a new stake in ScanSource during the 1st quarter valued at approximately $1,651,000. Janney Montgomery Scott LLC purchased a new position in shares of ScanSource during the third quarter valued at approximately $1,674,000. Cornercap Investment Counsel Inc. purchased a new position in shares of ScanSource during the second quarter valued at approximately $524,000. Royce & Associates LP lifted its holdings in shares of ScanSource by 177.3% during the third quarter. Royce & Associates LP now owns 21,432 shares of the industrial products company’s stock valued at $1,029,000 after purchasing an additional 13,703 shares during the last quarter. Finally, Vanguard Group Inc. lifted its holdings in shares of ScanSource by 1.2% during the first quarter. Vanguard Group Inc. now owns 3,479,683 shares of the industrial products company’s stock valued at $153,245,000 after purchasing an additional 40,264 shares during the last quarter. 97.91% of the stock is owned by institutional investors.

ScanSource Price Performance

Shares of NASDAQ SCSC opened at $49.14 on Thursday. ScanSource, Inc. has a twelve month low of $31.01 and a twelve month high of $53.76. The firm has a market cap of $1.17 billion, a P/E ratio of 15.75, a PEG ratio of 1.40 and a beta of 1.42. The company has a 50 day moving average of $47.60 and a 200 day moving average of $47.23. The company has a quick ratio of 1.27, a current ratio of 2.03 and a debt-to-equity ratio of 0.15.

ScanSource (NASDAQ:SCSC) last posted its 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 business 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 EPS. The firm’s revenue was down 11.5% on a year-over-year basis. As a group, research analysts expect that ScanSource, Inc. will post 3.51 EPS for the current fiscal year.

Insider Activity

In other news, CEO Michael L. Baur sold 15,081 shares of the company’s stock in a transaction dated Monday, November 18th. The shares were sold at an average price of $49.57, for a total transaction of $747,565.17. Following the sale, the chief executive officer now directly owns 177,760 shares in the company, valued at approximately $8,811,563.20. This represents a 7.82 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 4.20% of the company’s stock.

Analyst Ratings Changes

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

ScanSource Company 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.