Dynamic Technology Lab Private Ltd Purchases 16,746 Shares of ScanSource, Inc. (NASDAQ:SCSC)

Dynamic Technology Lab Private Ltd lifted its position in ScanSource, Inc. (NASDAQ:SCSC) by 97.4% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 33,939 shares of the industrial products company’s stock after acquiring an additional 16,746 shares during the quarter. Dynamic Technology Lab Private Ltd’s holdings in ScanSource were worth $1,630,000 as of its most recent SEC filing.

A number of other large investors have also added to or reduced their stakes in SCSC. CWM LLC raised its holdings in ScanSource by 164.1% in the second quarter. CWM LLC now owns 647 shares of the industrial products company’s stock worth $29,000 after purchasing an additional 402 shares in the last quarter. Gladius Capital Management LP bought a new position in ScanSource in the third quarter worth about $30,000. nVerses Capital LLC bought a new position in ScanSource in the second quarter worth about $40,000. Quest Partners LLC bought a new position in ScanSource in the second quarter worth about $41,000. Finally, KBC Group NV raised 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 worth $57,000 after purchasing an additional 443 shares in the last quarter. 97.91% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

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

Insider Transactions at ScanSource

In related news, CEO Michael L. Baur sold 15,081 shares of the company’s stock in a transaction that occurred on Monday, November 18th. The stock was sold at an average price of $49.57, for a total value of $747,565.17. Following the sale, the chief executive officer now owns 177,760 shares in the company, valued at $8,811,563.20. This represents a 7.82 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Over the last 90 days, insiders have sold 53,010 shares of company stock worth $2,611,843. Insiders own 4.20% of the company’s stock.

ScanSource Price Performance

Shares of SCSC stock opened at $51.77 on Tuesday. ScanSource, Inc. has a fifty-two week low of $31.01 and a fifty-two week high of $53.76. The firm has a market capitalization of $1.23 billion, a price-to-earnings ratio of 16.59, a PEG ratio of 1.46 and a beta of 1.42. The company has a debt-to-equity ratio of 0.15, a quick ratio of 1.27 and a current ratio of 2.03. The stock’s 50-day simple moving average is $47.78 and its 200-day simple moving average is $47.31.

ScanSource (NASDAQ:SCSC) last issued its quarterly 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. ScanSource had a return on equity of 8.53% and a net margin of 2.49%. The business had revenue of $775.58 million for the quarter, compared to analyst estimates of $774.90 million. During the same quarter in the previous year, the firm earned $0.74 earnings per share. The company’s revenue was down 11.5% on a year-over-year basis. As a group, equities analysts forecast that ScanSource, Inc. will post 3.51 earnings per share for the current fiscal year.

About ScanSource

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.