Susquehanna International Group LLP Acquires 17,406 Shares of ScanSource, Inc. (NASDAQ:SCSC)

Susquehanna International Group LLP lifted its position in shares of ScanSource, Inc. (NASDAQ:SCSC - Free Report) by 59.1% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 46,837 shares of the industrial products company's stock after buying an additional 17,406 shares during the quarter. Susquehanna International Group LLP owned approximately 0.20% of ScanSource worth $2,222,000 at the end of the most recent quarter.

Other institutional investors have also recently bought and sold shares of the company. JPMorgan Chase & Co. increased its holdings in shares of ScanSource by 31.8% in the 3rd quarter. JPMorgan Chase & Co. now owns 377,080 shares of the industrial products company's stock worth $18,111,000 after acquiring an additional 91,069 shares during the period. Franklin Resources Inc. raised its holdings in ScanSource by 9.9% during the 3rd quarter. Franklin Resources Inc. now owns 22,577 shares of the industrial products company's stock worth $1,093,000 after purchasing an additional 2,026 shares during the last quarter. Barclays PLC increased its stake in ScanSource by 97.9% during 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 in the last quarter. Allspring Global Investments Holdings LLC acquired a new stake in shares of ScanSource in the 4th quarter valued at approximately $807,000. Finally, Ritholtz Wealth Management increased its position in ScanSource by 63.5% during the 4th 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 period. 97.91% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

SCSC has been the topic of a number of recent analyst reports. StockNews.com raised ScanSource from a "hold" rating to a "buy" rating in a research note on Monday. Northcoast Research upgraded 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.

Insiders Place Their Bets

In other news, CFO Stephen Jones sold 2,000 shares of the business's stock in a transaction that occurred on Friday, March 21st. The stock was 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 directly owns 69,816 shares in the company, valued at approximately $2,523,150.24. The trade was a 2.78% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. 4.20% of the stock is currently owned by company insiders.

ScanSource Price Performance

Shares of NASDAQ SCSC traded down $0.88 during mid-day trading on Wednesday, reaching $41.19. The company's stock had a trading volume of 46,598 shares, compared to its average volume of 233,135. The firm has a market capitalization of $966.36 million, a PE ratio of 16.28, a P/E/G ratio of 1.14 and a beta of 1.30. ScanSource, Inc. has a 52 week low of $28.75 and a 52 week high of $53.90. The stock has a fifty day moving average of $34.18 and a two-hundred day moving average of $42.05. The company has a debt-to-equity ratio of 0.15, a current ratio of 2.11 and a quick ratio of 1.30.

ScanSource (NASDAQ:SCSC - Get Free Report) last issued its quarterly earnings data on Thursday, May 8th. The industrial products company reported $0.86 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.77 by $0.09. The business had revenue of $704.23 million during the quarter, compared to analysts' expectations of $809.17 million. ScanSource had a return on equity of 8.55% and a net margin of 2.08%. The company's revenue for the quarter was down 6.3% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.69 EPS. As a group, sell-side analysts anticipate that ScanSource, Inc. will post 3.33 EPS for the current fiscal year.

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.