Jacobs Levy Equity Management Inc. Boosts Position in ScanSource, Inc. (NASDAQ:SCSC)

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

Other institutional investors also recently bought and sold shares of the company. Castlekeep Investment Advisors LLC purchased a new stake in shares of ScanSource during the 4th quarter valued at approximately $78,694,000. American Century Companies Inc. lifted its stake in shares of ScanSource by 13.1% in the 4th quarter. American Century Companies Inc. now owns 759,318 shares of the industrial products company's stock valued at $36,030,000 after purchasing an additional 87,721 shares during the last quarter. Invesco Ltd. grew its holdings in shares of ScanSource by 2.4% during the 4th quarter. Invesco Ltd. now owns 618,099 shares of the industrial products company's stock worth $29,329,000 after purchasing an additional 14,669 shares during the period. JPMorgan Chase & Co. increased its position in shares of ScanSource by 15.6% during the 4th quarter. JPMorgan Chase & Co. now owns 436,007 shares of the industrial products company's stock worth $20,689,000 after purchasing an additional 58,927 shares during the last quarter. Finally, Bridgeway Capital Management LLC raised its holdings in ScanSource by 1.8% in the 4th quarter. Bridgeway Capital Management LLC now owns 366,156 shares of the industrial products company's stock valued at $17,374,000 after buying an additional 6,592 shares during the period. 97.91% of the stock is owned by hedge funds and other institutional investors.

ScanSource Trading Up 0.0%

Shares of SCSC stock traded up $0.01 on Friday, hitting $40.79. The stock had a trading volume of 165,861 shares, compared to its average volume of 233,593. The company's 50 day moving average price is $34.35 and its 200-day moving average price is $42.01. ScanSource, Inc. has a 1 year low of $28.75 and a 1 year high of $53.90. The company has a debt-to-equity ratio of 0.15, a current ratio of 2.11 and a quick ratio of 1.30. The firm has a market capitalization of $921.69 million, a P/E ratio of 16.12, a P/E/G ratio of 1.14 and a beta of 1.30.

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

Wall Street Analysts Forecast Growth

Several research analysts have weighed in on SCSC shares. 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, May 6th. StockNews.com upgraded shares of ScanSource from a "hold" rating to a "buy" rating in a report on Monday.

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 stock was sold at an average price of $36.14, for a total value of $72,280.00. Following the completion of the transaction, the chief financial officer now directly owns 69,816 shares in the company, valued at approximately $2,523,150.24. This trade represents a 2.78% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 4.20% of the stock is owned by company insiders.

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.