Teacher Retirement System of Texas Increases Stake in ScanSource, Inc. $SCSC

Key Points

• Teacher Retirement System of Texas boosted its stake in ScanSource by 333.8% in Q4 to 153,041 shares (about 0.70% ownership, ~$5.98M); other institutions—including SG Americas—also materially increased positions, leaving institutional ownership at 97.91%.
• Analysts have a consensus rating of Hold with a $42.50 price target; ScanSource missed Q4 estimates with an EPS miss of $0.80 vs. $1.00 and revenue below expectations, yet trades at a PE of 12.4 and a market cap of roughly $868M.
• Insider activity was mixed: CEO Michael Baur sold 3,827 shares (reducing his position ~2.37%), while director Charles Mathis purchased 6,000 shares (increasing his stake ~31.93%).

Teacher Retirement System of Texas increased its stake in ScanSource, Inc. (NASDAQ:SCSC - Free Report) by 333.8% in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 153,041 shares of the industrial products company's stock after purchasing an additional 117,762 shares during the period. Teacher Retirement System of Texas owned 0.70% of ScanSource worth $5,978,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds have also bought and sold shares of the company. Universal Beteiligungs und Servicegesellschaft mbH raised its holdings in shares of ScanSource by 65.3% in the fourth quarter. Universal Beteiligungs und Servicegesellschaft mbH now owns 133,593 shares of the industrial products company's stock worth $5,222,000 after buying an additional 52,763 shares during the last quarter. Harbor Capital Advisors Inc. grew its holdings in shares of 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 buying an additional 590 shares during the last quarter. SG Americas Securities LLC increased its position in shares of ScanSource by 2,835.9% in the 4th quarter. SG Americas Securities LLC now owns 283,756 shares of the industrial products company's stock valued at $11,084,000 after acquiring an additional 274,091 shares during the period. JPMorgan Chase & Co. increased its position in shares of ScanSource by 15.9% in the 3rd quarter. JPMorgan Chase & Co. now owns 430,267 shares of the industrial products company's stock valued at $18,927,000 after acquiring an additional 58,947 shares during the period. Finally, Jacobs Levy Equity Management Inc. raised its stake in ScanSource by 65.6% in the 3rd quarter. Jacobs Levy Equity Management Inc. now owns 389,915 shares of the industrial products company's stock worth $17,152,000 after acquiring an additional 154,518 shares during the last quarter. Institutional investors and hedge funds own 97.91% of the company's stock.

Analyst Upgrades and Downgrades

Several analysts have weighed in on the company. Zacks Research upgraded ScanSource from a "strong sell" rating to a "hold" rating in a research note on Tuesday, April 7th. Weiss Ratings restated a "hold (c)" rating on shares of ScanSource in a research note on Monday, December 29th. Finally, Wall Street Zen downgraded ScanSource from a "buy" rating to a "hold" rating in a report on Saturday, January 17th. One equities research analyst has rated the stock with a Buy rating and three have given a Hold rating to the company's stock. According to data from MarketBeat, the company currently has a consensus rating of "Hold" and a consensus price target of $42.50.

ScanSource Stock Performance

NASDAQ SCSC opened at $40.43 on Monday. ScanSource, Inc. has a 1 year low of $32.27 and a 1 year high of $46.25. The company has a debt-to-equity ratio of 0.11, a current ratio of 1.96 and a quick ratio of 1.22. The company has a market capitalization of $868.44 million, a PE ratio of 12.40, a P/E/G ratio of 0.68 and a beta of 1.25. The company has a fifty day moving average of $37.10 and a 200 day moving average of $39.48.

ScanSource (NASDAQ:SCSC - Get Free Report) last announced its quarterly earnings results 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 for the quarter, compared to analyst estimates of $782.46 million. ScanSource had a return on equity of 9.35% and a net margin of 2.44%.ScanSource's revenue for the quarter was up 2.5% on a year-over-year basis. During the same period in the prior year, the business posted $0.85 earnings per share. Research analysts forecast that ScanSource, Inc. will post 3.94 earnings per share for the current year.

Insider Activity

In other ScanSource news, CEO Michael L. Baur sold 3,827 shares of the 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 sale, the chief executive officer directly owned 157,512 shares of the company's stock, valued at approximately $5,653,105.68. This trade represents a 2.37% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Charles Alexander Mathis purchased 6,000 shares of the business's stock in a transaction on Wednesday, February 11th. The shares were bought at an average cost of $35.20 per share, for a total transaction of $211,200.00. Following the completion of the transaction, the director directly owned 24,793 shares in the company, valued at $872,713.60. This trade represents a 31.93% increase in their position. The disclosure for this purchase is available in the SEC filing. 3.18% of the stock is currently owned by company insiders.

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.

Want to see what other hedge funds are holding SCSC? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for ScanSource, Inc. (NASDAQ:SCSC - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.