UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC Has $2.16 Million Holdings in ScanSource, Inc. (NASDAQ:SCSC)

UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its position in ScanSource, Inc. (NASDAQ:SCSC - Free Report) by 18.0% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 45,469 shares of the industrial products company's stock after acquiring an additional 6,936 shares during the quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC owned 0.19% of ScanSource worth $2,158,000 at the end of the most recent reporting period.

A number of other hedge funds have also added to or reduced their stakes in the company. Castlekeep Investment Advisors LLC bought a new position in ScanSource in the fourth quarter valued at approximately $78,694,000. American Century Companies Inc. increased its stake 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. Invesco Ltd. increased its stake in ScanSource by 2.4% in 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 during the last quarter. JPMorgan Chase & Co. increased its stake in ScanSource by 15.6% in 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 during the last quarter. Finally, Bridgeway Capital Management LLC increased its stake in ScanSource by 1.8% in 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 during the last quarter. 97.91% of the stock is owned by institutional investors.

Insiders Place Their Bets

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

ScanSource Trading Up 0.4%

Shares of NASDAQ:SCSC traded up $0.18 during mid-day trading on Tuesday, reaching $42.15. 148,829 shares of the company's stock were exchanged, compared to its average volume of 232,643. The firm has a market capitalization of $952.42 million, a price-to-earnings ratio of 16.66, a PEG ratio of 1.14 and a beta of 1.38. The business's fifty day moving average price is $36.22 and its 200-day moving average price is $41.02. The company has a debt-to-equity ratio of 0.15, a quick ratio of 1.30 and a current ratio of 2.11. 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 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. The company had revenue of $704.23 million for the quarter, compared to analyst estimates of $809.17 million. ScanSource had a net margin of 2.08% and a return on equity of 8.55%. ScanSource's revenue was down 6.3% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.69 earnings per share. On average, research analysts predict that ScanSource, Inc. will post 3.33 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of brokerages have weighed in on SCSC. Northcoast Research upgraded shares of ScanSource from a "neutral" rating to a "buy" rating and set a $42.00 target price on the stock in a research report on Tuesday, May 6th. Wall Street Zen upgraded shares of 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.