JPMorgan Chase & Co. Grows Position in ScanSource, Inc. $SCSC

JPMorgan Chase & Co. raised its stake in ScanSource, Inc. (NASDAQ:SCSC) by 15.9% in the third quarter, HoldingsChannel.com reports. The fund owned 430,267 shares of the industrial products company’s stock after purchasing an additional 58,947 shares during the quarter. JPMorgan Chase & Co.’s holdings in ScanSource were worth $18,927,000 at the end of the most recent reporting period.

Other large investors have also made changes to their positions in the company. Amundi raised its stake 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 purchasing an additional 6,880 shares during the last quarter. AQR Capital Management LLC grew its holdings in shares of ScanSource by 3.8% during the first quarter. AQR Capital Management LLC now owns 128,574 shares of the industrial products company’s stock worth $4,373,000 after buying an additional 4,693 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its position in shares of ScanSource by 2.2% in 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 buying an additional 295 shares during the last quarter. Millennium Management LLC lifted its stake 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 buying an additional 20,086 shares during the period. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its position in 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 worth $2,092,000 after acquiring an additional 16,044 shares during the last quarter. Institutional investors and hedge funds own 97.91% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages have weighed in on SCSC. Wall Street Zen downgraded ScanSource from a “buy” rating to a “hold” rating in a report on Saturday, January 17th. Weiss Ratings reiterated a “hold (c)” rating on shares of ScanSource in a research note on Monday, December 29th. Finally, Zacks Research lowered ScanSource from a “hold” rating to a “strong sell” rating in a research note on Monday, February 9th. One equities research analyst has rated the stock with a Buy rating, two have assigned a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus target price of $42.50.

Insider Transactions at ScanSource

In other ScanSource news, CEO Michael L. Baur sold 9,559 shares of the stock in a transaction that occurred on Monday, December 15th. The stock was sold at an average price of $40.82, for a total transaction of $390,198.38. Following the transaction, the chief executive officer owned 191,971 shares of the company’s stock, valued at $7,836,256.22. This trade represents a 4.74% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, CFO Stephen Jones sold 5,020 shares of the firm’s stock in a transaction dated Thursday, December 11th. The stock was sold at an average price of $42.30, for a total transaction of $212,346.00. Following the completion of the transaction, the chief financial officer directly owned 83,326 shares in the company, valued at $3,524,689.80. This represents a 5.68% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last three months, insiders have sold 25,020 shares of company stock valued at $1,035,669. Corporate insiders own 3.18% of the company’s stock.

ScanSource Price Performance

Shares of NASDAQ SCSC opened at $36.89 on Tuesday. The company has a debt-to-equity ratio of 0.11, a current ratio of 1.96 and a quick ratio of 1.22. ScanSource, Inc. has a 1-year low of $28.75 and a 1-year high of $46.25. The company has a market capitalization of $792.40 million, a price-to-earnings ratio of 11.32, a PEG ratio of 0.62 and a beta of 1.29. The business has a 50-day moving average of $39.31 and a 200-day moving average of $41.28.

ScanSource (NASDAQ:SCSC) last released its quarterly 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 company had revenue of $766.51 million for the quarter, compared to analyst estimates of $782.46 million. ScanSource had a return on equity of 9.35% and a net margin of 2.44%.The business’s revenue was up 2.5% on a year-over-year basis. During the same period last year, the firm posted $0.85 earnings per share. On average, equities analysts anticipate that ScanSource, Inc. will post 3.33 EPS for the current fiscal year.

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.