Pzena Investment Management LLC Has $41.60 Million Stock Holdings in ScanSource, Inc. $SCSC

Pzena Investment Management LLC cut its stake in ScanSource, Inc. (NASDAQ:SCSC) by 3.1% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 945,599 shares of the industrial products company’s stock after selling 29,979 shares during the period. Pzena Investment Management LLC’s holdings in ScanSource were worth $41,597,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors also recently modified their holdings of SCSC. Canada Pension Plan Investment Board bought a new stake in shares of ScanSource during the second quarter worth $25,000. CWM LLC boosted its holdings in ScanSource by 159.6% in the third quarter. CWM LLC now owns 1,874 shares of the industrial products company’s stock valued at $82,000 after acquiring an additional 1,152 shares during the last quarter. Osaic Holdings Inc. increased its position in ScanSource by 400.5% in the second quarter. Osaic Holdings Inc. now owns 2,087 shares of the industrial products company’s stock worth $87,000 after purchasing an additional 1,670 shares during the period. Mitsubishi UFJ Asset Management Co. Ltd. raised its holdings in ScanSource by 22.3% during the 2nd quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 2,879 shares of the industrial products company’s stock worth $120,000 after purchasing an additional 524 shares during the last quarter. Finally, Tower Research Capital LLC TRC lifted its position in ScanSource by 672.0% during the 2nd quarter. Tower Research Capital LLC TRC now owns 4,632 shares of the industrial products company’s stock valued at $194,000 after purchasing an additional 4,032 shares during the period. 97.91% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

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

Insider Buying and Selling at ScanSource

In other ScanSource news, CEO Michael L. Baur sold 9,559 shares of the business’s stock in a transaction dated Monday, December 15th. The stock was sold at an average price of $40.82, for a total value of $390,198.38. Following the completion of the transaction, the chief executive officer directly owned 191,971 shares of the company’s stock, valued at approximately $7,836,256.22. The trade was a 4.74% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Charles Alexander Mathis purchased 6,000 shares of the company’s stock in a transaction dated Wednesday, February 11th. The shares were acquired at an average cost of $35.20 per share, for a total transaction of $211,200.00. Following the transaction, the director owned 24,793 shares of the company’s stock, valued at $872,713.60. This trade represents a 31.93% increase in their ownership of the stock. The SEC filing for this purchase provides additional information. Over the last ninety days, insiders sold 25,020 shares of company stock valued at $1,035,669. Company insiders own 3.18% of the company’s stock.

ScanSource Stock Up 1.8%

Shares of NASDAQ SCSC opened at $37.25 on Thursday. ScanSource, Inc. has a 52-week low of $28.75 and a 52-week high of $46.25. The company has a debt-to-equity ratio of 0.11, a quick ratio of 1.22 and a current ratio of 1.96. The stock has a market cap of $800.13 million, a P/E ratio of 11.43, a P/E/G ratio of 0.62 and a beta of 1.28. The firm has a 50 day moving average price of $40.05 and a 200 day moving average price of $41.54.

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