ScanSource, Inc. $SCSC Stake Raised by Public Sector Pension Investment Board

Public Sector Pension Investment Board lifted its holdings in shares of ScanSource, Inc. (NASDAQ:SCSC) by 29.6% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 91,782 shares of the industrial products company’s stock after buying an additional 20,939 shares during the period. Public Sector Pension Investment Board owned approximately 0.42% of ScanSource worth $4,037,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Amundi increased its position in ScanSource by 35.1% in the 1st quarter. Amundi now owns 26,464 shares of the industrial products company’s stock valued at $836,000 after acquiring an additional 6,880 shares during the period. AQR Capital Management LLC grew its stake in shares of ScanSource by 3.8% in the first quarter. AQR Capital Management LLC now owns 128,574 shares of the industrial products company’s stock worth $4,373,000 after purchasing an additional 4,693 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its holdings in shares of ScanSource by 2.2% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 13,859 shares of the industrial products company’s stock valued at $471,000 after purchasing an additional 295 shares during the period. Millennium Management LLC increased its holdings in shares of ScanSource by 8.4% during the first quarter. Millennium Management LLC now owns 259,808 shares of the industrial products company’s stock valued at $8,836,000 after purchasing an additional 20,086 shares during the period. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its stake in shares of ScanSource by 35.3% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 61,513 shares of the industrial products company’s stock valued at $2,092,000 after purchasing an additional 16,044 shares in the last quarter. 97.91% of the stock is owned by institutional investors.

ScanSource Stock Performance

NASDAQ:SCSC opened at $37.24 on Friday. The company has a 50-day moving average of $39.85 and a 200-day moving average of $41.50. The firm has a market cap of $799.92 million, a price-to-earnings ratio of 11.42, a price-to-earnings-growth ratio of 0.63 and a beta of 1.28. The company has a current ratio of 1.96, a quick ratio of 1.22 and a debt-to-equity ratio of 0.11. ScanSource, Inc. has a twelve month low of $28.75 and a twelve month high of $46.25.

ScanSource (NASDAQ:SCSC) last released its earnings results on Thursday, February 5th. The industrial products company reported $0.80 EPS for the quarter, missing the consensus estimate of $1.00 by ($0.20). The business had revenue of $766.51 million for the quarter, compared to analyst estimates of $782.46 million. ScanSource had a net margin of 2.44% and a return on equity of 9.35%. The firm’s revenue for the quarter was up 2.5% on a year-over-year basis. During the same period in the prior year, the company earned $0.85 earnings per share. Analysts forecast that ScanSource, Inc. will post 3.33 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of equities analysts recently issued reports on the stock. Zacks Research lowered shares of ScanSource from a “hold” rating to a “strong sell” rating in a research report on Monday, February 9th. Weiss Ratings reaffirmed a “hold (c)” rating on shares of ScanSource in a research note on Monday, December 29th. Finally, Wall Street Zen cut shares of ScanSource from a “buy” rating to a “hold” rating in a report on Saturday, January 17th. One equities research analyst has rated the stock with a Buy rating, two have given a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $42.50.

Insider Activity

In other news, CFO Stephen Jones sold 5,020 shares of the business’s stock in a transaction on Thursday, December 11th. The stock was sold at an average price of $42.30, for a total transaction of $212,346.00. Following the sale, the chief financial officer directly owned 83,326 shares of the company’s stock, valued at $3,524,689.80. The trade was a 5.68% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Charles Alexander Mathis bought 6,000 shares of ScanSource stock in a transaction dated Wednesday, February 11th. The shares were bought at an average cost of $35.20 per share, with a total value of $211,200.00. Following the completion of the acquisition, the director owned 24,793 shares of the company’s stock, valued at $872,713.60. The trade was a 31.93% increase in their ownership of the stock. Additional details regarding this purchase are available in the official SEC disclosure. In the last 90 days, insiders sold 25,020 shares of company stock worth $1,035,669. Insiders own 3.18% of the company’s stock.

ScanSource 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.