Pzena Investment Management LLC Increases Holdings in ScanSource, Inc. (NASDAQ:SCSC)

Pzena Investment Management LLC grew its holdings in shares of ScanSource, Inc. (NASDAQ:SCSC - Free Report) by 132.8% during the first quarter, according to its most recent Form 13F filing with the SEC. The firm owned 942,068 shares of the industrial products company's stock after purchasing an additional 537,358 shares during the period. Pzena Investment Management LLC owned 4.01% of ScanSource worth $32,040,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently modified their holdings of SCSC. Castlekeep Investment Advisors LLC bought a new position in shares of ScanSource during the 4th quarter valued at about $78,694,000. American Century Companies Inc. lifted its position in shares of ScanSource by 13.1% in the fourth quarter. American Century Companies Inc. now owns 759,318 shares of the industrial products company's stock worth $36,030,000 after purchasing an additional 87,721 shares in the last quarter. Invesco Ltd. raised its position in ScanSource by 2.4% during the fourth quarter. Invesco Ltd. now owns 618,099 shares of the industrial products company's stock valued at $29,329,000 after acquiring an additional 14,669 shares in the last quarter. JPMorgan Chase & Co. raised its position in ScanSource by 15.6% during the fourth quarter. JPMorgan Chase & Co. now owns 436,007 shares of the industrial products company's stock valued at $20,689,000 after acquiring an additional 58,927 shares in the last quarter. Finally, Bridgeway Capital Management LLC raised its position in ScanSource by 1.8% during the fourth quarter. Bridgeway Capital Management LLC now owns 366,156 shares of the industrial products company's stock valued at $17,374,000 after acquiring an additional 6,592 shares in the last quarter. 97.91% of the stock is owned by institutional investors and hedge funds.

ScanSource Stock Down 1.2%

Shares of ScanSource stock traded down $0.49 on Friday, reaching $40.53. 234,886 shares of the company were exchanged, compared to its average volume of 228,298. ScanSource, Inc. has a one year low of $28.75 and a one year high of $53.90. The company has a market capitalization of $915.98 million, a price-to-earnings ratio of 14.63, a PEG ratio of 1.10 and a beta of 1.38. The company has a current ratio of 2.07, a quick ratio of 1.32 and a debt-to-equity ratio of 0.14. The company has a 50-day moving average of $41.18 and a 200 day moving average of $39.23.

ScanSource (NASDAQ:SCSC - Get Free Report) last issued its quarterly 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. ScanSource had a return on equity of 8.96% and a net margin of 2.27%. The company had revenue of $704.23 million for the quarter, compared to analysts' expectations of $809.17 million. During the same quarter last year, the business earned $0.69 earnings per share. ScanSource's revenue was down 6.3% on a year-over-year basis. On average, equities research analysts forecast that ScanSource, Inc. will post 3.33 earnings per share for the current year.

Insider Activity at ScanSource

In other ScanSource news, EVP Rachel Hayden sold 6,738 shares of ScanSource stock in a transaction that occurred on Friday, June 20th. The stock was sold at an average price of $41.27, for a total value of $278,077.26. Following the completion of the sale, the executive vice president directly owned 13,174 shares in the company, valued at approximately $543,690.98. The trade was a 33.84% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 4.20% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

SCSC has been the topic of several analyst reports. Wall Street Zen upgraded ScanSource from a "hold" rating to a "buy" rating in a report on Saturday, July 12th. Northcoast Research upgraded shares of ScanSource from a "neutral" rating to a "buy" rating and set a $42.00 price objective on the stock in a research note on Tuesday, May 6th.

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.