UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC Purchases 6,936 Shares of ScanSource, Inc. (NASDAQ:SCSC)

UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its position in shares of ScanSource, Inc. (NASDAQ:SCSC - Free Report) by 18.0% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 45,469 shares of the industrial products company's stock after purchasing an additional 6,936 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC owned about 0.19% of ScanSource worth $2,158,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors also recently made changes to their positions in SCSC. Castlekeep Investment Advisors LLC bought a new stake in shares of ScanSource during the fourth quarter worth about $78,694,000. Raymond James Financial Inc. bought a new stake in ScanSource in the fourth quarter valued at approximately $5,687,000. American Century Companies Inc. boosted its holdings in ScanSource by 13.1% in the fourth quarter. American Century Companies Inc. now owns 759,318 shares of the industrial products company's stock valued at $36,030,000 after acquiring an additional 87,721 shares during the last quarter. Norges Bank bought a new stake in ScanSource in the fourth quarter valued at approximately $4,137,000. Finally, First Trust Advisors LP bought a new stake in ScanSource in the fourth quarter valued at approximately $3,454,000. 97.91% of the stock is currently owned by institutional investors.

Insider Activity at ScanSource

In other news, CFO Stephen Jones sold 2,000 shares of the firm's stock in a transaction on Friday, March 21st. The stock was sold at an average price of $36.14, for a total transaction of $72,280.00. Following the completion of the sale, the chief financial officer now directly owns 69,816 shares of the company's stock, valued at $2,523,150.24. This trade represents a 2.78% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. 4.20% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

Several analysts recently commented on the company. Northcoast Research upgraded ScanSource from a "neutral" rating to a "buy" rating and set a $42.00 target price on the stock in a report on Tuesday, May 6th. Wall Street Zen upgraded ScanSource from a "hold" rating to a "buy" rating in a report on Monday, May 12th.

ScanSource Stock Up 0.2%

Shares of NASDAQ:SCSC traded up $0.07 during trading on Friday, reaching $41.50. 168,031 shares of the stock were exchanged, compared to its average volume of 232,790. The company has a debt-to-equity ratio of 0.15, a current ratio of 2.11 and a quick ratio of 1.30. ScanSource, Inc. has a 1-year low of $28.75 and a 1-year high of $53.90. The stock has a fifty day moving average of $35.86 and a two-hundred day moving average of $41.19. The firm has a market cap of $937.73 million, a price-to-earnings ratio of 16.40, a price-to-earnings-growth ratio of 1.14 and a beta of 1.38.

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

ScanSource Company Profile

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.