Jane Street Group LLC Purchases 23,502 Shares of ScanSource, Inc. (NASDAQ:SCSC)

Jane Street Group LLC lifted its holdings in shares of ScanSource, Inc. (NASDAQ:SCSC - Free Report) by 41.2% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 80,482 shares of the industrial products company's stock after buying an additional 23,502 shares during the period. Jane Street Group LLC owned approximately 0.34% of ScanSource worth $3,819,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in the business. Barclays PLC grew its stake in shares of ScanSource by 97.9% in the 3rd quarter. Barclays PLC now owns 54,346 shares of the industrial products company's stock worth $2,610,000 after purchasing an additional 26,881 shares during the last quarter. Franklin Resources Inc. boosted its holdings in ScanSource by 9.9% during the third quarter. Franklin Resources Inc. now owns 22,577 shares of the industrial products company's stock worth $1,093,000 after buying an additional 2,026 shares in the last quarter. Ritholtz Wealth Management grew its position in ScanSource by 63.5% in the fourth quarter. Ritholtz Wealth Management now owns 15,013 shares of the industrial products company's stock worth $712,000 after buying an additional 5,830 shares during the last quarter. Exchange Traded Concepts LLC increased its holdings in shares of ScanSource by 5.6% in the fourth quarter. Exchange Traded Concepts LLC now owns 21,519 shares of the industrial products company's stock valued at $1,021,000 after buying an additional 1,132 shares in the last quarter. Finally, RHS Financial LLC increased its holdings in shares of ScanSource by 30.0% in the fourth quarter. RHS Financial LLC now owns 5,981 shares of the industrial products company's stock valued at $284,000 after buying an additional 1,380 shares in the last quarter. 97.91% of the stock is owned by institutional investors.

ScanSource Stock Up 3.5%

Shares of NASDAQ SCSC traded up $1.43 during mid-day trading on Tuesday, reaching $42.06. 266,786 shares of the company traded hands, compared to its average volume of 233,865. The company's fifty day moving average is $34.18 and its two-hundred day moving average is $42.05. 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 fifty-two week low of $28.75 and a fifty-two week high of $53.90. The stock has a market cap of $986.90 million, a PE ratio of 16.62, a price-to-earnings-growth ratio of 1.14 and a beta of 1.30.

ScanSource (NASDAQ:SCSC - Get Free Report) last released its quarterly 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. ScanSource had a net margin of 2.08% and a return on equity of 8.55%. The company had revenue of $704.23 million during the quarter, compared to analysts' expectations of $809.17 million. During the same period in the prior year, the company earned $0.69 earnings per share. The business's quarterly revenue was down 6.3% compared to the same quarter last year. On average, analysts expect that ScanSource, Inc. will post 3.33 earnings per share for the current year.

Insiders Place Their Bets

In other news, CFO Stephen Jones sold 2,000 shares of the company's stock in a transaction that occurred 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 transaction, the chief financial officer now directly owns 69,816 shares in the company, valued at approximately $2,523,150.24. This represents a 2.78% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Corporate insiders own 4.20% of the company's stock.

Analysts Set New Price Targets

SCSC has been the subject of several recent analyst reports. Northcoast Research upgraded shares of ScanSource from a "neutral" rating to a "buy" rating and set a $42.00 target price for the company in a report on Tuesday, May 6th. StockNews.com upgraded shares of ScanSource from a "hold" rating to a "buy" rating in a research report on Monday.

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.