Public Employees Retirement System of Ohio Increases Stock Holdings in ScanSource, Inc. (NASDAQ:SCSC)

Public Employees Retirement System of Ohio raised its stake in shares of ScanSource, Inc. (NASDAQ:SCSC) by 14.4% during the fourth quarter, Holdings Channel reports. The firm owned 18,364 shares of the industrial products company’s stock after buying an additional 2,317 shares during the quarter. Public Employees Retirement System of Ohio’s holdings in ScanSource were worth $871,000 at the end of the most recent quarter.

A number of other hedge funds have also added to or reduced their stakes in SCSC. Barclays PLC boosted its stake in shares of ScanSource by 97.9% during the 3rd quarter. Barclays PLC now owns 54,346 shares of the industrial products company’s stock valued at $2,610,000 after purchasing an additional 26,881 shares in the last quarter. Empowered Funds LLC boosted its position in ScanSource by 5.1% during the 4th quarter. Empowered Funds LLC now owns 136,305 shares of the industrial products company’s stock valued at $6,468,000 after acquiring an additional 6,592 shares in the last quarter. Allspring Global Investments Holdings LLC bought a new stake in ScanSource during the 4th quarter valued at approximately $807,000. Sanctuary Advisors LLC grew its holdings in shares of ScanSource by 3.5% during the 4th quarter. Sanctuary Advisors LLC now owns 10,103 shares of the industrial products company’s stock worth $479,000 after acquiring an additional 338 shares during the period. Finally, New York State Common Retirement Fund raised its position in shares of ScanSource by 11.5% in the 4th quarter. New York State Common Retirement Fund now owns 8,596 shares of the industrial products company’s stock worth $408,000 after acquiring an additional 887 shares in the last quarter. 97.91% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

SCSC has been the topic of several recent research reports. Northcoast Research raised ScanSource from a “neutral” rating to a “buy” rating and set a $42.00 price target on the stock in a research note on Tuesday, May 6th. Wall Street Zen raised shares of ScanSource from a “hold” rating to a “buy” rating in a research report on Monday, May 12th.

Insider Transactions at ScanSource

In other ScanSource news, CFO Stephen Jones sold 2,000 shares of the firm’s stock in a transaction dated Friday, March 21st. The shares were sold at an average price of $36.14, for a total transaction of $72,280.00. Following the completion of the sale, the chief financial officer now directly owns 69,816 shares in the company, valued at approximately $2,523,150.24. This trade represents a 2.78% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. 4.20% of the stock is owned by insiders.

ScanSource Stock Performance

Shares of SCSC opened at $41.37 on Wednesday. The company has a quick ratio of 1.30, a current ratio of 2.11 and a debt-to-equity ratio of 0.15. The stock has a market cap of $934.80 million, a P/E ratio of 16.35, a P/E/G ratio of 1.14 and a beta of 1.30. The business’s 50 day moving average price is $35.42 and its 200-day moving average price is $41.30. ScanSource, Inc. has a 52 week low of $28.75 and a 52 week high of $53.90.

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

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.