ScanSource, Inc. (NASDAQ:SCSC) Shares Acquired by Lazard Asset Management LLC

Lazard Asset Management LLC raised its position in ScanSource, Inc. (NASDAQ:SCSC - Free Report) by 117.9% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 29,380 shares of the industrial products company's stock after purchasing an additional 15,896 shares during the quarter. Lazard Asset Management LLC owned 0.13% of ScanSource worth $1,394,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Quarry LP raised its position in ScanSource by 948.7% in the fourth quarter. Quarry LP now owns 797 shares of the industrial products company's stock valued at $38,000 after purchasing an additional 721 shares during the period. New Age Alpha Advisors LLC purchased a new stake in shares of ScanSource during the fourth quarter worth $64,000. Picton Mahoney Asset Management increased its position in shares of ScanSource by 50.9% during the fourth quarter. Picton Mahoney Asset Management now owns 2,246 shares of the industrial products company's stock worth $106,000 after acquiring an additional 758 shares during the period. Mitsubishi UFJ Asset Management Co. Ltd. purchased a new stake in shares of ScanSource during the fourth quarter worth $126,000. Finally, Tower Research Capital LLC TRC increased its position in shares of ScanSource by 42.1% during the fourth quarter. Tower Research Capital LLC TRC now owns 2,862 shares of the industrial products company's stock worth $136,000 after acquiring an additional 848 shares during the period. Hedge funds and other institutional investors own 97.91% of the company's stock.

ScanSource Stock Down 1.3%

Shares of SCSC stock traded down $0.53 on Friday, reaching $39.27. 124,911 shares of the stock were exchanged, compared to its average volume of 233,706. The company has a current ratio of 2.11, a quick ratio of 1.30 and a debt-to-equity ratio of 0.15. The business's 50 day moving average price is $34.83 and its 200 day moving average price is $41.78. The company has a market capitalization of $887.34 million, a price-to-earnings ratio of 15.52, a PEG ratio of 1.14 and a beta of 1.30. ScanSource, Inc. has a twelve month low of $28.75 and a twelve month high of $53.90.

ScanSource (NASDAQ:SCSC - Get Free Report) last issued its earnings results on Thursday, May 8th. The industrial products company reported $0.86 EPS for the quarter, topping analysts' consensus estimates of $0.77 by $0.09. The firm had revenue of $704.23 million during the quarter, compared to the consensus estimate of $809.17 million. ScanSource had a net margin of 2.08% and a return on equity of 8.55%. The company's revenue was down 6.3% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.69 earnings per share. As a group, sell-side analysts expect that ScanSource, Inc. will post 3.33 earnings per share for the current fiscal year.

Insider Buying and Selling

In other ScanSource news, CFO Stephen Jones sold 2,000 shares of the company's stock in a transaction on Friday, March 21st. The shares were sold at an average price of $36.14, for a total value of $72,280.00. Following the completion of the transaction, the chief financial officer now owns 69,816 shares in the company, valued at $2,523,150.24. This represents a 2.78% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Insiders own 4.20% of the company's stock.

Analyst Upgrades and Downgrades

A number of analysts have recently weighed in on the company. Northcoast Research raised ScanSource from a "neutral" rating to a "buy" rating and set a $42.00 price objective on the stock in a research report on Tuesday, May 6th. Wall Street Zen raised ScanSource from a "hold" rating to a "buy" rating in a research report on Monday, May 12th.

About ScanSource

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.