Legato Capital Management LLC Invests $459,000 in ScanSource, Inc. $SCSC

Legato Capital Management LLC purchased a new stake in shares of ScanSource, Inc. (NASDAQ:SCSC) during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 11,758 shares of the industrial products company’s stock, valued at approximately $459,000.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Canada Pension Plan Investment Board bought a new position in ScanSource during the second quarter valued at about $25,000. Osaic Holdings Inc. increased its stake in ScanSource by 400.5% during the second quarter. Osaic Holdings Inc. now owns 2,087 shares of the industrial products company’s stock valued at $87,000 after acquiring an additional 1,670 shares during the period. Tower Research Capital LLC TRC increased its stake in ScanSource by 672.0% during 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 period. Harbor Capital Advisors Inc. increased its stake in ScanSource by 12.7% during 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 period. Finally, First Trust Advisors LP bought a new position in ScanSource during the third quarter valued at about $241,000. 97.91% of the stock is currently owned by institutional investors.

ScanSource Stock Up 1.0%

NASDAQ SCSC opened at $45.41 on Thursday. The company has a current ratio of 1.86, a quick ratio of 1.20 and a debt-to-equity ratio of 0.11. The stock’s 50 day moving average is $39.72 and its two-hundred day moving average is $39.60. The company has a market capitalization of $922.96 million, a price-to-earnings ratio of 13.76, a PEG ratio of 0.77 and a beta of 1.28. ScanSource, Inc. has a 1-year low of $33.76 and a 1-year high of $46.63.

ScanSource (NASDAQ:SCSC) last released its quarterly earnings data on Thursday, May 7th. The industrial products company reported $0.94 earnings per share for the quarter, beating analysts’ consensus estimates of $0.91 by $0.03. The company had revenue of $758.59 million for the quarter, compared to the consensus estimate of $738.55 million. ScanSource had a return on equity of 9.35% and a net margin of 2.38%.The company’s quarterly revenue was up 8.8% on a year-over-year basis. During the same period in the previous year, the business earned $0.86 earnings per share. Equities analysts forecast that ScanSource, Inc. will post 3.9 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Separately, Zacks Research upgraded ScanSource from a “strong sell” rating to a “hold” rating in a research note on Tuesday, April 7th. Three research analysts have rated the stock with a Hold rating, Based on data from MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $43.00.

Insiders Place Their Bets

In other ScanSource news, CEO Michael L. Baur sold 3,827 shares of ScanSource stock in a transaction that occurred on Monday, March 16th. The stock was sold at an average price of $35.89, for a total transaction of $137,351.03. Following the sale, the chief executive officer directly owned 157,512 shares of the company’s stock, valued at approximately $5,653,105.68. The trade was a 2.37% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 3.18% of the company’s stock.

ScanSource 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.