LSV Asset Management Has $26.52 Million Stock Holdings in ScanSource, Inc. $SCSC

LSV Asset Management raised its holdings in ScanSource, Inc. (NASDAQ:SCSC) by 11.9% in the 3rd quarter, according to the company in its most recent filing with the SEC. The firm owned 602,960 shares of the industrial products company’s stock after acquiring an additional 64,300 shares during the quarter. LSV Asset Management owned approximately 2.73% of ScanSource worth $26,524,000 as of its most recent SEC filing.

Other large investors have also recently modified their holdings of the company. MQS Management LLC bought a new stake in shares of ScanSource in the third quarter worth $273,000. State of Wyoming bought a new position in ScanSource during the 3rd quarter worth $390,000. Summit Global Investments acquired a new position in ScanSource during the 3rd quarter worth about $604,000. New York State Common Retirement Fund grew its position in shares of ScanSource by 326.9% in the 3rd quarter. New York State Common Retirement Fund now owns 36,696 shares of the industrial products company’s stock valued at $1,614,000 after buying an additional 28,100 shares during the last quarter. Finally, SummerHaven Investment Management LLC grew its position in shares of ScanSource by 7.1% in the 3rd quarter. SummerHaven Investment Management LLC now owns 20,197 shares of the industrial products company’s stock valued at $888,000 after buying an additional 1,345 shares during the last quarter. Institutional investors own 97.91% of the company’s stock.

Insider Activity

In related news, CEO Michael L. Baur sold 9,559 shares of the company’s stock in a transaction that occurred on Monday, December 15th. The stock was sold at an average price of $40.82, for a total transaction of $390,198.38. Following the transaction, the chief executive officer directly owned 191,971 shares of the company’s stock, valued at approximately $7,836,256.22. This represents a 4.74% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Stephen Jones sold 5,020 shares of the stock in a transaction that occurred on Thursday, December 11th. The stock was sold at an average price of $42.30, for a total value of $212,346.00. Following the completion of the transaction, the chief financial officer owned 83,326 shares in the company, valued at approximately $3,524,689.80. The trade was a 5.68% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last 90 days, insiders have sold 25,020 shares of company stock worth $1,035,669. Company insiders own 3.18% of the company’s stock.

ScanSource Price Performance

Shares of SCSC opened at $35.72 on Friday. The firm has a market cap of $767.27 million, a PE ratio of 10.96, a price-to-earnings-growth ratio of 0.59 and a beta of 1.28. ScanSource, Inc. has a 52-week low of $28.75 and a 52-week high of $46.25. The business’s 50 day moving average price is $40.34 and its two-hundred day moving average price is $41.58. The company has a debt-to-equity ratio of 0.11, a quick ratio of 1.22 and a current ratio of 1.96.

ScanSource (NASDAQ:SCSC) last released its quarterly earnings data on Thursday, February 5th. The industrial products company reported $0.80 earnings per share for the quarter, missing the consensus estimate of $1.00 by ($0.20). The company had revenue of $766.51 million during the quarter, compared to the consensus estimate of $782.46 million. ScanSource had a net margin of 2.44% and a return on equity of 9.35%. The business’s revenue was up 2.5% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.85 EPS. On average, equities analysts anticipate that ScanSource, Inc. will post 3.33 EPS for the current year.

Analyst Ratings Changes

A number of brokerages have recently issued reports on SCSC. Weiss Ratings restated a “hold (c)” rating on shares of ScanSource in a research report on Monday, December 29th. Wall Street Zen downgraded shares of ScanSource from a “buy” rating to a “hold” rating in a research report on Saturday, January 17th. Finally, Zacks Research downgraded shares of ScanSource from a “hold” rating to a “strong sell” rating in a research report on Monday, February 9th. One research analyst has rated the stock with a Buy rating, two have given a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $42.50.

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.