Martingale Asset Management L P Boosts Stake in ScanSource, Inc. (NASDAQ:SCSC)

Martingale Asset Management L P raised its holdings in shares of ScanSource, Inc. (NASDAQ:SCSC) by 1.3% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 58,899 shares of the industrial products company’s stock after buying an additional 730 shares during the period. Martingale Asset Management L P owned about 0.25% of ScanSource worth $2,795,000 at the end of the most recent reporting period.

Several other large investors have also modified their holdings of the business. Raymond James Financial Inc. purchased a new position in ScanSource in the 4th quarter worth about $5,687,000. JPMorgan Chase & Co. grew its stake in 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 in the last quarter. American Century Companies Inc. increased its position in shares of ScanSource by 13.1% during the fourth quarter. American Century Companies Inc. now owns 759,318 shares of the industrial products company’s stock worth $36,030,000 after acquiring an additional 87,721 shares during the period. Norges Bank bought a new stake in shares of ScanSource during the fourth quarter valued at approximately $4,137,000. Finally, Victory Capital Management Inc. boosted its holdings in shares of ScanSource by 142.2% in the fourth quarter. Victory Capital Management Inc. now owns 119,599 shares of the industrial products company’s stock valued at $5,675,000 after purchasing an additional 70,228 shares during the period. Hedge funds and other institutional investors own 97.91% of the company’s stock.

ScanSource Trading Down 3.5 %

Shares of NASDAQ SCSC opened at $31.03 on Friday. ScanSource, Inc. has a twelve month low of $28.75 and a twelve month high of $53.90. The firm has a market cap of $728.09 million, a PE ratio of 12.26, a price-to-earnings-growth ratio of 1.14 and a beta of 1.34. The business has a fifty day simple moving average of $35.71 and a two-hundred day simple moving average of $44.20. The company has a quick ratio of 1.30, a current ratio of 2.11 and a debt-to-equity ratio of 0.15.

ScanSource (NASDAQ:SCSC) last released its quarterly earnings data on Thursday, January 30th. The industrial products company reported $0.85 earnings per share for the quarter, missing the consensus estimate of $0.89 by ($0.04). ScanSource had a net margin of 2.08% and a return on equity of 8.55%. During the same period in the prior year, the company earned $0.85 earnings per share. Analysts expect that ScanSource, Inc. will post 3.33 earnings per share for the current fiscal year.

Insider Transactions at ScanSource

In other news, CFO Stephen Jones sold 2,000 shares of ScanSource stock in a transaction on 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 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 sale was disclosed in a legal filing 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 on Monday, February 10th. The stock was sold at an average price of $38.00, for a total value of $75,772.00. Following the sale, the chief executive officer now owns 142,760 shares of the company’s stock, valued at $5,424,880. This trade represents a 1.38 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 18,994 shares of company stock valued at $731,702. Company insiders own 4.20% of the company’s stock.

ScanSource Profile

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.