Tocqueville Asset Management L.P. Sells 800 Shares of ScanSource, Inc. (NASDAQ:SCSC)

Tocqueville Asset Management L.P. lessened its stake in shares of ScanSource, Inc. (NASDAQ:SCSC) by 4.0% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 19,050 shares of the industrial products company’s stock after selling 800 shares during the quarter. Tocqueville Asset Management L.P. owned about 0.08% of ScanSource worth $582,000 at the end of the most recent reporting period.

Other hedge funds also recently added to or reduced their stakes in the company. Victory Capital Management Inc. grew its position in shares of ScanSource by 842.6% during the 2nd quarter. Victory Capital Management Inc. now owns 454,678 shares of the industrial products company’s stock valued at $14,804,000 after purchasing an additional 406,441 shares in the last quarter. Pzena Investment Management LLC lifted its stake in ScanSource by 14.8% in the second quarter. Pzena Investment Management LLC now owns 1,245,448 shares of the industrial products company’s stock worth $40,552,000 after purchasing an additional 160,303 shares during the last quarter. BlackRock Inc. lifted its stake in ScanSource by 2.7% in the second quarter. BlackRock Inc. now owns 4,825,357 shares of the industrial products company’s stock worth $157,114,000 after purchasing an additional 126,831 shares during the last quarter. Nuveen Asset Management LLC bought a new stake in ScanSource in the second quarter worth $3,233,000. Finally, Invesco Ltd. lifted its stake in ScanSource by 35.7% in the second quarter. Invesco Ltd. now owns 300,884 shares of the industrial products company’s stock worth $9,797,000 after purchasing an additional 79,153 shares during the last quarter. 96.10% of the stock is currently owned by institutional investors.

Several analysts have weighed in on the stock. Raymond James lowered their price target on shares of ScanSource from $44.00 to $36.00 and set an “outperform” rating for the company in a research note on Wednesday, August 21st. Zacks Investment Research raised shares of ScanSource from a “sell” rating to a “hold” rating in a research note on Wednesday, October 23rd. ValuEngine raised shares of ScanSource from a “sell” rating to a “hold” rating in a research note on Thursday, October 24th. Finally, BidaskClub raised shares of ScanSource from a “hold” rating to a “buy” rating in a research note on Tuesday. Three investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. The stock presently has a consensus rating of “Hold” and an average target price of $39.00.

SCSC stock opened at $33.74 on Friday. The firm’s 50-day moving average price is $30.81 and its two-hundred day moving average price is $31.69. ScanSource, Inc. has a 12-month low of $26.84 and a 12-month high of $42.77. The stock has a market capitalization of $848.86 million, a price-to-earnings ratio of 10.04 and a beta of 0.95. The company has a current ratio of 2.11, a quick ratio of 1.11 and a debt-to-equity ratio of 0.38.

ScanSource (NASDAQ:SCSC) last announced its quarterly earnings results on Tuesday, August 20th. The industrial products company reported $0.71 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.83 by ($0.12). The company had revenue of $960.80 million for the quarter, compared to analysts’ expectations of $999.63 million. ScanSource had a net margin of 1.49% and a return on equity of 9.60%. ScanSource’s quarterly revenue was down 3.3% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.77 EPS. Equities analysts predict that ScanSource, Inc. will post 3.03 EPS for the current year.

ScanSource Company Profile

ScanSource, Inc distributes technology products and solutions in North America, Latin America, and Europe. It operates in two segments, Worldwide Barcode, Networking & Security (WW Barcode, Networking & Security); and Worldwide Communications & Services (WW Communications & Services).

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Institutional Ownership by Quarter for ScanSource (NASDAQ:SCSC)

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