Lazard Asset Management LLC acquired a new position in shares of ScanSource, Inc. (NASDAQ:SCSC – Free Report) in the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund acquired 50,995 shares of the industrial products company’s stock, valued at approximately $1,851,000.
Other hedge funds have also bought and sold shares of the company. Vanguard Group Inc. raised its stake in shares of ScanSource by 2.9% in the fourth quarter. Vanguard Group Inc. now owns 2,827,007 shares of the industrial products company’s stock valued at $110,423,000 after acquiring an additional 78,993 shares during the period. Wasatch Advisors LP boosted its stake in shares of ScanSource by 34.9% during the 3rd quarter. Wasatch Advisors LP now owns 1,139,573 shares of the industrial products company’s stock worth $50,130,000 after purchasing an additional 294,624 shares during the period. Pzena Investment Management LLC grew its holdings in ScanSource by 0.6% during the 1st quarter. Pzena Investment Management LLC now owns 913,239 shares of the industrial products company’s stock valued at $33,151,000 after purchasing an additional 5,783 shares during the last quarter. LSV Asset Management grew its holdings in ScanSource by 40.6% during the 4th quarter. LSV Asset Management now owns 847,863 shares of the industrial products company’s stock valued at $33,118,000 after purchasing an additional 244,903 shares during the last quarter. Finally, Geode Capital Management LLC raised its position in ScanSource by 2.4% in the 4th quarter. Geode Capital Management LLC now owns 562,109 shares of the industrial products company’s stock worth $21,960,000 after purchasing an additional 13,318 shares during the period. Institutional investors own 97.91% of the company’s stock.
Wall Street Analyst Weigh In
SCSC has been the subject of several analyst reports. Zacks Research raised shares of ScanSource from a “strong sell” rating to a “hold” rating in a research note on Tuesday, April 7th. Wall Street Zen downgraded ScanSource from a “buy” rating to a “hold” rating in a report on Saturday, July 18th. Finally, Weiss Ratings raised ScanSource from a “hold (c)” rating to a “hold (c+)” rating in a research note on Friday, May 29th. Three research analysts have rated the stock with a Hold rating, According to MarketBeat, the company has a consensus rating of “Hold” and an average target price of $43.00.
ScanSource Price Performance
ScanSource stock opened at $57.13 on Tuesday. The stock has a market cap of $1.16 billion, a price-to-earnings ratio of 17.31, a price-to-earnings-growth ratio of 0.88 and a beta of 1.28. The company has a debt-to-equity ratio of 0.11, a current ratio of 1.86 and a quick ratio of 1.20. ScanSource, Inc. has a 1 year low of $33.76 and a 1 year high of $58.94. The firm has a 50-day moving average of $51.26 and a two-hundred day moving average of $43.32.
ScanSource (NASDAQ:SCSC – Get Free Report) last issued its earnings results on Thursday, May 7th. The industrial products company reported $0.94 EPS for the quarter, topping analysts’ consensus estimates of $0.91 by $0.03. ScanSource had a net margin of 2.38% and a return on equity of 9.35%. The business had revenue of $758.59 million for the quarter, compared to analyst estimates of $738.55 million. During the same period last year, the company posted $0.86 earnings per share. The company’s quarterly revenue was up 8.8% compared to the same quarter last year. On average, research analysts forecast that ScanSource, Inc. will post 3.9 earnings per share for the current year.
ScanSource Company Profile
ScanSource, Inc is a global provider of technology products and solutions designed to help businesses enhance operational efficiency and customer engagement. The company specializes in the distribution of point-of-sale (POS) systems, barcode and data capture devices, networking and communications equipment, and value-added software and cloud services. By combining hardware, software and professional services, ScanSource supports channel partners in delivering end-to-end solutions across multiple industries, including retail, hospitality, healthcare and logistics.
Founded in 1992 and headquartered in Greenville, South Carolina, ScanSource has built a broad international footprint, serving customers throughout North, Central and South America as well as Europe, the Middle East and Africa.
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