Trading Report: Today, ScanSource Inc. (SCSC) Position Boosted by First Midwest Bank Trust Division

Today, ScanSource Inc. (SCSC) Position Boosted by First Midwest Bank Trust Division

First Midwest Bank Trust Division increased its position in ScanSource Inc. (NASDAQ:SCSC) by 46.7% during the second quarter, Holdings Channel reports. The fund owned 9,748 shares of the company’s stock after buying an additional 3,103 shares during the period. First Midwest Bank Trust Division’s holdings in ScanSource were worth $362,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors also recently modified their holdings of the company. BlackRock Inc. increased its position in shares of ScanSource by 202.1% in the first quarter. BlackRock Inc. now owns 2,891 shares of the company’s stock worth $116,000 after buying an additional 1,934 shares during the last quarter. Aperio Group LLC bought a new position in shares of ScanSource during the first quarter worth approximately $291,000. BNP Paribas Arbitrage SA increased its position in shares of ScanSource by 99.8% in the second quarter. BNP Paribas Arbitrage SA now owns 8,700 shares of the company’s stock worth $323,000 after buying an additional 4,345 shares during the last quarter. Huntington Asset Advisors Inc. bought a new position in shares of ScanSource during the first quarter worth approximately $525,000. Finally, Thomson Horstmann & Bryant Inc. increased its position in shares of ScanSource by 17.1% in the second quarter. Thomson Horstmann & Bryant Inc. now owns 16,452 shares of the company’s stock worth $610,000 after buying an additional 2,403 shares during the last quarter. Hedge funds and other institutional investors own 96.91% of the company’s stock.

Shares of ScanSource Inc. (NASDAQ:SCSC) traded down 0.16% on Thursday, reaching $37.10. The company’s stock had a trading volume of 70,276 shares. ScanSource Inc. has a 52 week low of $27.46 and a 52 week high of $43.49. The stock has a market capitalization of $950.69 million, a price-to-earnings ratio of 15.59 and a beta of 1.24. The stock has a 50-day moving average of $37.31 and a 200 day moving average of $39.09.

ScanSource (NASDAQ:SCSC) last posted its quarterly earnings data on Monday, August 29th. The company reported $0.51 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.71 by $0.20. The company earned $887.50 million during the quarter. ScanSource had a net margin of 1.80% and a return on equity of 9.47%. The firm’s revenue for the quarter was up 3.6% compared to the same quarter last year. During the same period last year, the firm earned $0.66 EPS. On average, analysts expect that ScanSource Inc. will post $2.88 EPS for the current year.

SCSC has been the subject of a number of recent research reports. Zacks Investment Research upgraded ScanSource from a “sell” rating to a “hold” rating in a research note on Tuesday, August 23rd. Raymond James Financial Inc. reduced their price target on ScanSource from $44.00 to $42.00 and set an “outperform” rating for the company in a research report on Tuesday, August 30th.

About ScanSource

ScanSource, Inc is a wholesale distributor of specialty technology products. The Company and its subsidiaries provide distribution services for technology manufacturers and sells to resellers in the specialty technology markets, such as point-of-sale (POS) and barcode, physical security and three dimensional (3D) printing and communications.

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