Picton Mahoney Asset Management Takes Position in ScanSource, Inc. $SCSC

Picton Mahoney Asset Management bought a new position in ScanSource, Inc. (NASDAQ:SCSC) during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor bought 21,221 shares of the industrial products company’s stock, valued at approximately $933,000.

Several other institutional investors have also recently added to or reduced their stakes in SCSC. American Century Companies Inc. lifted its holdings in ScanSource by 4.4% during the 2nd quarter. American Century Companies Inc. now owns 854,624 shares of the industrial products company’s stock valued at $35,732,000 after purchasing an additional 36,161 shares during the last quarter. Wasatch Advisors LP raised its stake in shares of ScanSource by 0.6% in the second quarter. Wasatch Advisors LP now owns 844,949 shares of the industrial products company’s stock valued at $35,327,000 after acquiring an additional 4,798 shares during the last quarter. LSV Asset Management boosted its holdings in shares of ScanSource by 11.9% in the 3rd quarter. LSV Asset Management now owns 602,960 shares of the industrial products company’s stock worth $26,524,000 after acquiring an additional 64,300 shares in the last quarter. JPMorgan Chase & Co. grew its position in ScanSource by 15.9% during the 3rd quarter. JPMorgan Chase & Co. now owns 430,267 shares of the industrial products company’s stock worth $18,927,000 after acquiring an additional 58,947 shares during the last quarter. Finally, Millennium Management LLC grew its position in ScanSource by 8.4% during the 1st quarter. Millennium Management LLC now owns 259,808 shares of the industrial products company’s stock worth $8,836,000 after acquiring an additional 20,086 shares during the last quarter. 97.91% of the stock is owned by institutional investors.

Insider Buying and Selling at ScanSource

In other news, CEO Michael L. Baur sold 9,459 shares of the business’s stock in a transaction on Tuesday, December 16th. The shares were sold at an average price of $41.42, for a total value of $391,791.78. Following the completion of the transaction, the chief executive officer owned 182,512 shares of the company’s stock, valued at $7,559,647.04. The trade was a 4.93% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Charles Alexander Mathis acquired 6,000 shares of the stock in a transaction that occurred on Wednesday, February 11th. The stock was purchased at an average price of $35.20 per share, with a total value of $211,200.00. Following the transaction, the director owned 24,793 shares in the company, valued at $872,713.60. This represents a 31.93% increase in their ownership of the stock. The SEC filing for this purchase provides additional information. Over the last 90 days, insiders sold 25,020 shares of company stock valued at $1,035,669. Corporate insiders own 3.18% of the company’s stock.

Wall Street Analyst Weigh In

SCSC has been the subject of several research analyst reports. Zacks Research lowered ScanSource from a “hold” rating to a “strong sell” rating in a research note on Monday, February 9th. Wall Street Zen cut ScanSource from a “buy” rating to a “hold” rating in a report on Saturday, January 17th. Finally, Weiss Ratings reiterated a “hold (c)” rating on shares of ScanSource in a research report on Monday, December 29th. One investment analyst has rated the stock with a Buy rating, two have given a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $42.50.

ScanSource Price Performance

ScanSource stock opened at $36.19 on Friday. The firm has a market capitalization of $777.36 million, a P/E ratio of 11.10, a PEG ratio of 0.64 and a beta of 1.29. ScanSource, Inc. has a 1 year low of $28.75 and a 1 year high of $46.25. The business has a 50-day moving average of $39.12 and a 200-day moving average of $41.15. 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 (NASDAQ:SCSC) last announced its quarterly earnings results on Thursday, February 5th. The industrial products company reported $0.80 earnings per share for the quarter, missing analysts’ consensus estimates of $1.00 by ($0.20). ScanSource had a net margin of 2.44% and a return on equity of 9.35%. The firm had revenue of $766.51 million during the quarter, compared to analyst estimates of $782.46 million. During the same quarter in the prior year, the business earned $0.85 earnings per share. The business’s revenue was up 2.5% on a year-over-year basis. On average, equities analysts anticipate that ScanSource, Inc. will post 3.33 EPS for the current year.

About ScanSource

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.