Jacobs Levy Equity Management Inc. Increases Stake in ScanSource, Inc. (NASDAQ:SCSC)

Jacobs Levy Equity Management Inc. grew its stake in shares of ScanSource, Inc. (NASDAQ:SCSC - Free Report) by 9.2% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 241,229 shares of the industrial products company's stock after buying an additional 20,306 shares during the period. Jacobs Levy Equity Management Inc. owned 1.03% of ScanSource worth $11,446,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds have also recently modified their holdings of the company. Quarry LP boosted its stake in ScanSource by 948.7% during the fourth quarter. Quarry LP now owns 797 shares of the industrial products company's stock worth $38,000 after buying an additional 721 shares during the period. New Age Alpha Advisors LLC purchased a new position in ScanSource during the fourth quarter worth $64,000. Picton Mahoney Asset Management boosted its stake in ScanSource by 50.9% during the fourth quarter. Picton Mahoney Asset Management now owns 2,246 shares of the industrial products company's stock worth $106,000 after buying an additional 758 shares during the period. Mitsubishi UFJ Asset Management Co. Ltd. purchased a new position in ScanSource during the fourth quarter worth $126,000. Finally, Tower Research Capital LLC TRC boosted its stake in ScanSource by 42.1% during the fourth quarter. Tower Research Capital LLC TRC now owns 2,862 shares of the industrial products company's stock worth $136,000 after buying an additional 848 shares during the period. Institutional investors own 97.91% of the company's stock.

Analyst Ratings Changes

Several research analysts have commented on the stock. StockNews.com raised shares of ScanSource from a "hold" rating to a "buy" rating in a research note on Monday, May 12th. Northcoast Research raised shares of ScanSource from a "neutral" rating to a "buy" rating and set a $42.00 price objective for the company in a research note on Tuesday, May 6th.

ScanSource Trading Up 0.0%

Shares of SCSC traded up $0.01 during trading hours on Friday, reaching $40.79. 165,861 shares of the company traded hands, compared to its average volume of 234,180. The firm has a market cap of $921.69 million, a price-to-earnings ratio of 16.12, a PEG ratio of 1.14 and a beta of 1.30. ScanSource, Inc. has a 12-month low of $28.75 and a 12-month high of $53.90. The company has a current ratio of 2.11, a quick ratio of 1.30 and a debt-to-equity ratio of 0.15. The stock's fifty day moving average price is $34.44 and its 200 day moving average price is $41.96.

ScanSource (NASDAQ:SCSC - Get Free Report) last issued its earnings results on Thursday, May 8th. The industrial products company reported $0.86 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.77 by $0.09. The firm had revenue of $704.23 million during 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%. The business's revenue was down 6.3% on a year-over-year basis. During the same period in the previous year, the firm earned $0.69 earnings per share. Sell-side analysts forecast that ScanSource, Inc. will post 3.33 earnings per share for the current year.

Insider Activity

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

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.