Public Employees Retirement System of Ohio Acquires New Position in ScanSource, Inc. $SCSC

Public Employees Retirement System of Ohio bought a new position in ScanSource, Inc. (NASDAQ:SCSC) in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund bought 22,709 shares of the industrial products company’s stock, valued at approximately $1,183,000.

A number of other large investors also recently made changes to their positions in SCSC. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted 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 worth $471,000 after purchasing an additional 295 shares during the last quarter. Royce & Associates LP increased its stake in ScanSource by 1.7% in the fourth quarter. Royce & Associates LP now owns 26,088 shares of the industrial products company’s stock valued at $1,019,000 after purchasing an additional 433 shares during the last quarter. Summit Global Investments lifted its position in ScanSource by 3.3% during the fourth quarter. Summit Global Investments now owns 14,177 shares of the industrial products company’s stock worth $554,000 after buying an additional 451 shares during the period. WINTON GROUP Ltd lifted its position in ScanSource by 2.0% during the fourth quarter. WINTON GROUP Ltd now owns 26,020 shares of the industrial products company’s stock worth $1,016,000 after buying an additional 510 shares during the period. Finally, Franklin Resources Inc. boosted its stake in ScanSource by 1.6% in the 3rd quarter. Franklin Resources Inc. now owns 36,424 shares of the industrial products company’s stock worth $1,602,000 after buying an additional 567 shares during the last quarter. Hedge funds and other institutional investors own 97.91% of the company’s stock.

ScanSource Stock Down 1.4%

Shares of NASDAQ:SCSC opened at $57.69 on Wednesday. The stock has a 50-day simple moving average of $54.82 and a 200-day simple moving average of $46.19. The stock has a market capitalization of $1.16 billion, a P/E ratio of 15.76, a PEG ratio of 0.85 and a beta of 1.24. ScanSource, Inc. has a 1 year low of $33.76 and a 1 year high of $66.78. The company has a debt-to-equity ratio of 0.11, a quick ratio of 1.15 and a current ratio of 1.76.

ScanSource (NASDAQ:SCSC) last posted its quarterly earnings results on Thursday, August 20th. The industrial products company reported $1.46 EPS for the quarter, beating the consensus estimate of $1.14 by $0.32. ScanSource had a net margin of 2.44% and a return on equity of 10.10%. The firm had revenue of $953.11 million for the quarter, compared to analyst estimates of $814.35 million. During the same quarter last year, the firm posted $1.02 earnings per share. ScanSource’s revenue for the quarter was up 17.3% compared to the same quarter last year. Equities analysts forecast that ScanSource, Inc. will post 4.56 earnings per share for the current year.

Wall Street Analysts Forecast Growth

A number of research analysts have recently commented on SCSC shares. Wall Street Zen raised shares of ScanSource from a “buy” rating to a “strong-buy” rating in a research note on Saturday, August 29th. Northcoast Research downgraded shares of ScanSource from a “buy” rating to a “neutral” rating in a report on Monday, August 17th. Weiss Ratings reaffirmed a “hold (c+)” rating on shares of ScanSource in a research report on Wednesday, August 26th. Finally, Zacks Research raised shares of ScanSource from a “hold” rating to a “strong-buy” rating in a research note on Monday, August 24th. One investment analyst has rated the stock with a Strong Buy rating and three have given a Hold rating to the stock. According to MarketBeat.com, ScanSource presently has a consensus rating of “Moderate Buy” and a consensus target price of $43.00.

Insider Buying and Selling at ScanSource

In other news, CAO Brandy Ford sold 5,293 shares of the stock in a transaction dated Friday, September 4th. The stock was sold at an average price of $57.43, for a total value of $303,976.99. Following the completion of the sale, the chief accounting officer owned 9,907 shares in the company, valued at approximately $568,959.01. This trade represents a 34.82% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO Stephen Jones sold 10,000 shares of the business’s stock in a transaction on Thursday, September 3rd. The stock was sold at an average price of $56.76, for a total transaction of $567,600.00. Following the transaction, the chief financial officer directly owned 87,421 shares in the company, valued at approximately $4,962,015.96. The trade was a 10.26% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The sale was made to cover tax withholding obligations related to the vesting of equity awards. 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.