Susquehanna International Group LLP Increases Stock Position in ScanSource, Inc. (NASDAQ:SCSC)

Susquehanna International Group LLP increased its position in shares of ScanSource, Inc. (NASDAQ:SCSC) by 59.1% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 46,837 shares of the industrial products company’s stock after buying an additional 17,406 shares during the period. Susquehanna International Group LLP owned about 0.20% of ScanSource worth $2,222,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently added to or reduced their stakes in SCSC. Raymond James Financial Inc. purchased a new stake in shares of ScanSource during the fourth quarter worth about $5,687,000. JPMorgan Chase & Co. increased its holdings in ScanSource by 31.8% during the 3rd quarter. JPMorgan Chase & Co. now owns 377,080 shares of the industrial products company’s stock worth $18,111,000 after purchasing an additional 91,069 shares during the last quarter. American Century Companies Inc. raised its position 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 in the last quarter. Norges Bank purchased a new position in shares of ScanSource during the 4th quarter valued at approximately $4,137,000. Finally, First Trust Advisors LP acquired a new stake in shares of ScanSource during the fourth quarter worth approximately $3,454,000. Institutional investors and hedge funds own 97.91% of the company’s stock.

Insider Activity

In related 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 owns 69,816 shares in the company, valued at $2,523,150.24. The trade was a 2.78 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO Michael L. Baur sold 1,994 shares of the stock in a transaction on Monday, February 10th. The stock was sold at an average price of $38.00, for a total value of $75,772.00. Following the completion of the sale, the chief executive officer now directly owns 142,760 shares in the company, valued at $5,424,880. This represents a 1.38 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 4.20% of the company’s stock.

ScanSource Stock Up 6.3 %

NASDAQ:SCSC opened at $38.39 on Friday. The company has a debt-to-equity ratio of 0.15, a quick ratio of 1.30 and a current ratio of 2.11. The company has a market capitalization of $900.78 million, a price-to-earnings ratio of 15.17, a price-to-earnings-growth ratio of 1.14 and a beta of 1.30. ScanSource, Inc. has a one year low of $28.75 and a one year high of $53.90. The stock has a 50-day simple moving average of $33.88 and a 200 day simple moving average of $42.18.

ScanSource (NASDAQ:SCSC) last issued its earnings results on Thursday, May 8th. The industrial products company reported $0.86 EPS for the quarter, topping the consensus estimate of $0.77 by $0.09. The company had revenue of $704.23 million during the quarter, compared to analyst estimates of $809.17 million. ScanSource had a return on equity of 8.55% and a net margin of 2.08%. The business’s revenue was down 6.3% on a year-over-year basis. During the same quarter last year, the firm earned $0.69 EPS. Sell-side analysts predict that ScanSource, Inc. will post 3.33 EPS for the current fiscal year.

Analysts Set New Price Targets

Separately, Northcoast Research raised shares of ScanSource from a “neutral” rating to a “buy” rating and set a $42.00 price target on the stock in a report 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.