LSV Asset Management Raises Holdings in ScanSource, Inc. $SCSC

LSV Asset Management increased its position in ScanSource, Inc. (NASDAQ:SCSC) by 40.6% during the 4th quarter, HoldingsChannel reports. The institutional investor owned 847,863 shares of the industrial products company’s stock after buying an additional 244,903 shares during the period. LSV Asset Management’s holdings in ScanSource were worth $33,118,000 at the end of the most recent quarter.

Several other large investors have also made changes to their positions in SCSC. Canada Pension Plan Investment Board purchased a new position in shares of ScanSource in the 2nd quarter worth $25,000. Osaic Holdings Inc. raised its position in shares of ScanSource by 400.5% in the 2nd quarter. Osaic Holdings Inc. now owns 2,087 shares of the industrial products company’s stock worth $87,000 after buying an additional 1,670 shares during the period. Tower Research Capital LLC TRC raised its position in shares of ScanSource by 672.0% in the 2nd quarter. Tower Research Capital LLC TRC now owns 4,632 shares of the industrial products company’s stock worth $194,000 after buying an additional 4,032 shares during the period. Harbor Capital Advisors Inc. raised its position in shares of ScanSource by 12.7% in the 4th quarter. Harbor Capital Advisors Inc. now owns 5,233 shares of the industrial products company’s stock worth $204,000 after buying an additional 590 shares during the period. Finally, First Trust Advisors LP purchased a new position in shares of ScanSource in the 3rd quarter worth $241,000. 97.91% of the stock is owned by hedge funds and other institutional investors.

ScanSource Price Performance

Shares of ScanSource stock opened at $44.09 on Monday. The business has a 50-day moving average of $39.17 and a 200-day moving average of $39.52. 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 company has a market capitalization of $896.13 million, a PE ratio of 13.36, a P/E/G ratio of 0.75 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 announced its earnings results on Thursday, May 7th. The industrial products company reported $0.94 earnings per share for the quarter, beating the consensus estimate of $0.91 by $0.03. The company had revenue of $758.59 million during 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 revenue was up 8.8% on a year-over-year basis. During the same period last year, the firm earned $0.86 earnings per share. As a group, equities analysts forecast that ScanSource, Inc. will post 3.9 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

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

Insider Buying and Selling at ScanSource

In other news, CEO Michael L. Baur sold 3,827 shares of the firm’s stock in a transaction dated Monday, March 16th. The stock was sold at an average price of $35.89, for a total transaction of $137,351.03. Following the completion of the sale, the chief executive officer directly owned 157,512 shares in the company, valued at $5,653,105.68. This trade represents a 2.37% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 3.18% of the stock is owned by corporate insiders.

About ScanSource

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.