Pzena Investment Management LLC Buys 89,103 Shares of ScanSource, Inc. (NASDAQ:SCSC)

Pzena Investment Management LLC boosted its position in shares of ScanSource, Inc. (NASDAQ:SCSC) by 4.9% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,893,151 shares of the industrial products company’s stock after purchasing an additional 89,103 shares during the period. Pzena Investment Management LLC owned about 7.52% of ScanSource worth $74,988,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Quest Partners LLC acquired a new stake in shares of ScanSource in the fourth quarter valued at approximately $367,000. Trexquant Investment LP bought a new position in shares of ScanSource in the 4th quarter valued at about $313,000. Dimensional Fund Advisors LP raised its holdings in ScanSource by 1.5% during the fourth quarter. Dimensional Fund Advisors LP now owns 1,934,258 shares of the industrial products company’s stock worth $76,616,000 after acquiring an additional 27,751 shares in the last quarter. Jump Financial LLC grew its stake in ScanSource by 6.6% in the fourth quarter. Jump Financial LLC now owns 20,694 shares of the industrial products company’s stock valued at $820,000 after purchasing an additional 1,276 shares in the last quarter. Finally, Teacher Retirement System of Texas raised its stake in shares of ScanSource by 63.0% during the 4th quarter. Teacher Retirement System of Texas now owns 32,100 shares of the industrial products company’s stock worth $1,271,000 after purchasing an additional 12,410 shares in the last quarter. Institutional investors and hedge funds own 97.91% of the company’s stock.

ScanSource Stock Up 1.4 %

Shares of NASDAQ:SCSC traded up $0.69 during midday trading on Wednesday, hitting $50.42. The stock had a trading volume of 87,248 shares, compared to its average volume of 205,755. The company has a quick ratio of 1.38, a current ratio of 2.20 and a debt-to-equity ratio of 0.15. The business’s 50-day simple moving average is $43.46 and its 200-day simple moving average is $39.94. ScanSource, Inc. has a 12 month low of $26.99 and a 12 month high of $50.95. The company has a market cap of $1.25 billion, a P/E ratio of 16.10, a PEG ratio of 1.48 and a beta of 1.51.

ScanSource (NASDAQ:SCSC) last issued its earnings results on Tuesday, May 7th. The industrial products company reported $0.69 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.84 by ($0.15). ScanSource had a net margin of 2.31% and a return on equity of 8.28%. The firm had revenue of $752.60 million during the quarter, compared to the consensus estimate of $822.10 million. During the same period in the previous year, the company posted $0.96 earnings per share. The firm’s revenue for the quarter was down 15.0% compared to the same quarter last year. On average, sell-side analysts forecast that ScanSource, Inc. will post 3.31 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other ScanSource news, Director Peter C. Browning sold 7,490 shares of the company’s stock in a transaction on Friday, May 10th. The stock was sold at an average price of $46.44, for a total value of $347,835.60. Following the transaction, the director now directly owns 22,759 shares of the company’s stock, valued at approximately $1,056,927.96. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. In related news, Director Peter C. Browning sold 7,490 shares of the business’s stock in a transaction that occurred on Friday, May 10th. The stock was sold at an average price of $46.44, for a total value of $347,835.60. Following the completion of the sale, the director now directly owns 22,759 shares in the company, valued at $1,056,927.96. The sale was disclosed in a filing with the SEC, which is available at this link. Also, CAO Brandy Ford sold 1,253 shares of the stock in a transaction on Friday, May 10th. The stock was sold at an average price of $47.26, for a total value of $59,216.78. Following the sale, the chief accounting officer now directly owns 9,219 shares in the company, valued at $435,689.94. The disclosure for this sale can be found here. Insiders sold a total of 9,743 shares of company stock valued at $454,202 over the last ninety days. 4.56% of the stock is currently owned by company insiders.

ScanSource Profile

ScanSource, Inc distributes technology products and solutions in the United States, Canada, and internationally. 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.