Legato Capital Management LLC Makes New $459,000 Investment in ScanSource, Inc. $SCSC

Legato Capital Management LLC purchased a new position in ScanSource, Inc. (NASDAQ:SCSC) in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund purchased 11,758 shares of the industrial products company’s stock, valued at approximately $459,000. Legato Capital Management LLC owned about 0.05% of ScanSource at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently made changes to their positions in SCSC. Amundi lifted its position in shares of ScanSource by 35.1% in the first quarter. Amundi now owns 26,464 shares of the industrial products company’s stock worth $836,000 after buying an additional 6,880 shares during the last quarter. AQR Capital Management LLC lifted its position 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 buying an additional 4,693 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted 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 worth $471,000 after buying an additional 295 shares during the last quarter. Millennium Management LLC lifted its position in shares of ScanSource by 8.4% in the first quarter. Millennium Management LLC now owns 259,808 shares of the industrial products company’s stock worth $8,836,000 after buying an additional 20,086 shares during the last quarter. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its position in shares of ScanSource by 35.3% in 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 buying an additional 16,044 shares during the last quarter. Institutional investors and hedge funds own 97.91% of the company’s stock.

ScanSource Trading Up 1.0%

ScanSource stock opened at $45.41 on Thursday. The company has a debt-to-equity ratio of 0.11, a quick ratio of 1.20 and a current ratio of 1.86. The business’s 50-day simple moving average is $39.72 and its 200-day simple moving average is $39.60. The firm has a market capitalization of $922.96 million, a PE ratio of 13.76, a PEG ratio of 0.77 and a beta of 1.28. ScanSource, Inc. has a 52 week low of $33.76 and a 52 week high of $46.63.

ScanSource (NASDAQ:SCSC) last posted its quarterly earnings data on Thursday, May 7th. The industrial products company reported $0.94 EPS for the quarter, topping analysts’ consensus estimates of $0.91 by $0.03. The business had revenue of $758.59 million for the quarter, compared to analyst estimates of $738.55 million. ScanSource had a return on equity of 9.35% and a net margin of 2.38%.The firm’s revenue for the quarter was up 8.8% on a year-over-year basis. During the same period in the previous year, the company posted $0.86 earnings per share. Equities research analysts forecast that ScanSource, Inc. will post 3.9 earnings per share for the current year.

Analysts Set New Price Targets

Separately, Zacks Research raised ScanSource from a “strong sell” rating to a “hold” rating in a research report on Tuesday, April 7th. Three analysts have rated the stock with a Hold rating, Based on data from MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $43.00.

Insider Activity at ScanSource

In other news, CEO Michael L. Baur sold 21,173 shares of ScanSource stock in a transaction dated Friday, March 13th. The stock was sold at an average price of $35.76, for a total value of $757,146.48. Following the transaction, the chief executive officer directly owned 161,339 shares in the company, valued at approximately $5,769,482.64. The trade was a 11.60% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Insiders own 3.18% of the company’s stock.

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.