OP Asset Management Ltd Purchases New Holdings in ScanSource, Inc. $SCSC

OP Asset Management Ltd purchased a new stake in ScanSource, Inc. (NASDAQ:SCSC) in the first quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm purchased 51,586 shares of the industrial products company’s stock, valued at approximately $1,873,000. OP Asset Management Ltd owned approximately 0.24% of ScanSource as of its most recent SEC filing.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Canada Pension Plan Investment Board bought a new position in shares of ScanSource in the second quarter valued at $25,000. Royal Bank of Canada raised its position in ScanSource by 165.0% during the fourth quarter. Royal Bank of Canada now owns 1,876 shares of the industrial products company’s stock worth $73,000 after acquiring an additional 1,168 shares in the last quarter. Osaic Holdings Inc. raised its position in ScanSource by 400.5% during the second quarter. Osaic Holdings Inc. now owns 2,087 shares of the industrial products company’s stock worth $87,000 after acquiring an additional 1,670 shares in the last quarter. Tower Research Capital LLC TRC lifted its stake in ScanSource by 672.0% in the second quarter. Tower Research Capital LLC TRC now owns 4,632 shares of the industrial products company’s stock valued at $194,000 after acquiring an additional 4,032 shares during the last quarter. Finally, Harbor Capital Advisors Inc. lifted its stake in ScanSource by 12.7% in the fourth quarter. Harbor Capital Advisors Inc. now owns 5,233 shares of the industrial products company’s stock valued at $204,000 after acquiring an additional 590 shares during the last quarter. Institutional investors own 97.91% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms have recently weighed in on SCSC. Wall Street Zen upgraded shares of ScanSource from a “hold” rating to a “buy” rating in a research note on Saturday, June 6th. Weiss Ratings upgraded shares of ScanSource from a “hold (c)” rating to a “hold (c+)” rating in a research note on Friday, May 29th. Finally, Zacks Research upgraded ScanSource from a “strong sell” rating to a “hold” rating in a report on Tuesday, April 7th. Three analysts have rated the stock with a Hold rating, Based on data from MarketBeat.com, ScanSource currently has an average rating of “Hold” and an average target price of $43.00.

ScanSource Price Performance

Shares of SCSC opened at $50.87 on Monday. The company’s 50-day moving average is $44.96 and its 200-day moving average is $40.85. The company has a debt-to-equity ratio of 0.11, a current ratio of 1.86 and a quick ratio of 1.20. The firm has a market capitalization of $1.03 billion, a PE ratio of 15.42, a PEG ratio of 0.87 and a beta of 1.30. ScanSource, Inc. has a fifty-two week low of $33.76 and a fifty-two week high of $51.25.

ScanSource (NASDAQ:SCSC) last announced its quarterly earnings results on Thursday, May 7th. The industrial products company reported $0.94 EPS for the quarter, beating 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 net margin of 2.38% and a return on equity of 9.35%. ScanSource’s quarterly revenue was up 8.8% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.86 EPS. Equities analysts forecast that ScanSource, Inc. will post 3.9 EPS for the current year.

ScanSource Company Profile

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.