ScanSource, Inc. (NASDAQ:SCSC) Shares Purchased by Susquehanna International Group LLP

Susquehanna International Group LLP grew its holdings in shares of ScanSource, Inc. (NASDAQ:SCSC) by 59.1% in the fourth quarter, HoldingsChannel reports. The fund owned 46,837 shares of the industrial products company’s stock after buying an additional 17,406 shares during the period. Susquehanna International Group LLP’s holdings in ScanSource were worth $2,222,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds also recently modified their holdings of the company. Barclays PLC lifted its holdings in ScanSource by 97.9% in the third quarter. Barclays PLC now owns 54,346 shares of the industrial products company’s stock worth $2,610,000 after purchasing an additional 26,881 shares during the period. Franklin Resources Inc. increased its stake in ScanSource by 9.9% during the 3rd quarter. Franklin Resources Inc. now owns 22,577 shares of the industrial products company’s stock valued at $1,093,000 after buying an additional 2,026 shares during the period. JPMorgan Chase & Co. lifted its stake in shares of ScanSource by 31.8% in the 3rd quarter. JPMorgan Chase & Co. now owns 377,080 shares of the industrial products company’s stock worth $18,111,000 after acquiring an additional 91,069 shares during the period. Ritholtz Wealth Management boosted its holdings in shares of ScanSource by 63.5% in the fourth quarter. Ritholtz Wealth Management now owns 15,013 shares of the industrial products company’s stock valued at $712,000 after acquiring an additional 5,830 shares in the last quarter. Finally, Exchange Traded Concepts LLC increased its stake in shares of ScanSource by 5.6% during the fourth quarter. Exchange Traded Concepts LLC now owns 21,519 shares of the industrial products company’s stock valued at $1,021,000 after acquiring an additional 1,132 shares during the period. Institutional investors own 97.91% of the company’s stock.

Insider Activity

In related news, CFO Stephen Jones sold 2,000 shares of ScanSource stock in a transaction dated Friday, March 21st. The stock was sold at an average price of $36.14, for a total value of $72,280.00. Following the transaction, the chief financial officer now owns 69,816 shares of the company’s stock, valued at approximately $2,523,150.24. This trade represents a 2.78 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CEO Michael L. Baur sold 1,994 shares of the company’s stock in a transaction dated Monday, February 10th. The shares were sold at an average price of $38.00, for a total transaction of $75,772.00. Following the sale, the chief executive officer now directly owns 142,760 shares of the company’s stock, valued at $5,424,880. This represents a 1.38 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 4.20% of the company’s stock.

ScanSource Price Performance

Shares of ScanSource stock opened at $38.39 on Friday. ScanSource, Inc. has a 52 week low of $28.75 and a 52 week high of $53.90. The company has a current ratio of 2.11, a quick ratio of 1.30 and a debt-to-equity ratio of 0.15. The stock has a market cap of $900.78 million, a PE ratio of 15.17, a price-to-earnings-growth ratio of 1.14 and a beta of 1.30. The company’s 50-day moving average price is $33.88 and its two-hundred day moving average price is $42.18.

ScanSource (NASDAQ:SCSC) last released its earnings results on Thursday, May 8th. The industrial products company reported $0.86 EPS for the quarter, topping analysts’ consensus estimates of $0.77 by $0.09. The business had revenue of $704.23 million for the quarter, compared to the consensus estimate of $809.17 million. ScanSource had a net margin of 2.08% and a return on equity of 8.55%. The business’s revenue for the quarter was down 6.3% on a year-over-year basis. During the same period in the previous year, the firm earned $0.69 EPS. As a group, sell-side analysts anticipate that ScanSource, Inc. will post 3.33 EPS for the current fiscal year.

Analyst Ratings Changes

Separately, Northcoast Research raised ScanSource from a “neutral” rating to a “buy” rating and set a $42.00 price target for the company in a research note on Tuesday.

About ScanSource

ScanSource, Inc engages in the distribution of technology products and solutions in the United States, Canada, and Brazil. It operates through two segments, Specialty Technology Solutions and Modern Communications & Cloud. The Specialty Technology Solutions segment provides a portfolio of solutions primarily for enterprise mobile computing, data capture, barcode printing, point of sale (POS), payments, networking, electronic physical security, cyber security, and other technologies.