First Trust Advisors LP Purchases New Position in ScanSource, Inc. (NASDAQ:SCSC)

First Trust Advisors LP bought a new position in shares of ScanSource, Inc. (NASDAQ:SCSC - Free Report) during the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm bought 72,793 shares of the industrial products company's stock, valued at approximately $3,454,000. First Trust Advisors LP owned approximately 0.31% of ScanSource as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently bought and sold shares of SCSC. Barclays PLC lifted its holdings in ScanSource by 5.4% during the 4th quarter. Barclays PLC now owns 57,299 shares of the industrial products company's stock valued at $2,718,000 after purchasing an additional 2,953 shares during the last quarter. Sterling Capital Management LLC increased its position in ScanSource by 7.3% in the 4th quarter. Sterling Capital Management LLC now owns 9,782 shares of the industrial products company's stock valued at $464,000 after acquiring an additional 665 shares in the last quarter. Raymond James Financial Inc. bought a new position in ScanSource in the 4th quarter worth approximately $5,687,000. Martingale Asset Management L P boosted its position in shares of ScanSource by 1.3% in the 4th quarter. Martingale Asset Management L P now owns 58,899 shares of the industrial products company's stock worth $2,795,000 after purchasing an additional 730 shares during the last quarter. Finally, Legal & General Group Plc increased its stake in shares of ScanSource by 4.1% in the 4th quarter. Legal & General Group Plc now owns 62,470 shares of the industrial products company's stock valued at $2,964,000 after acquiring an additional 2,481 shares during the last quarter. 97.91% of the stock is owned by institutional investors.

Insider Activity

In related news, CFO Stephen Jones sold 2,000 shares of ScanSource stock in a transaction dated 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 sale, the chief financial officer now owns 69,816 shares of the company's stock, valued at approximately $2,523,150.24. The trade was a 2.78 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CEO Michael L. Baur sold 1,994 shares of the firm's stock in a transaction that occurred on Monday, February 10th. The stock was sold at an average price of $38.00, for a total transaction of $75,772.00. Following the sale, the chief executive officer now owns 142,760 shares of the company's stock, valued at $5,424,880. This trade represents a 1.38 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 4.20% of the company's stock.

ScanSource Stock Up 2.5 %

NASDAQ SCSC traded up $0.96 on Friday, reaching $39.35. The company had a trading volume of 72,893 shares, compared to its average volume of 232,821. The company's fifty day moving average is $33.88 and its 200-day moving average is $42.18. ScanSource, Inc. has a 1-year low of $28.75 and a 1-year high of $53.90. The firm has a market capitalization of $923.31 million, a price-to-earnings ratio of 15.55, a price-to-earnings-growth ratio of 1.14 and a beta of 1.30. 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 (NASDAQ:SCSC - Get Free Report) last announced its quarterly earnings data on Thursday, May 8th. The industrial products company reported $0.86 earnings per share for the quarter, beating the consensus estimate of $0.77 by $0.09. ScanSource had a return on equity of 8.55% and a net margin of 2.08%. The company had revenue of $704.23 million during the quarter, compared to analysts' expectations of $809.17 million. During the same quarter last year, the company earned $0.69 EPS. ScanSource's revenue for the quarter was down 6.3% compared to the same quarter last year. On average, research analysts forecast that ScanSource, Inc. will post 3.33 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Separately, Northcoast Research raised shares of ScanSource from a "neutral" rating to a "buy" rating and set a $42.00 target price for the company in a research note on Tuesday.

ScanSource 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.