Pzena Investment Management LLC Has $41.60 Million Stock Position in ScanSource, Inc. $SCSC

Pzena Investment Management LLC reduced its position in ScanSource, Inc. (NASDAQ:SCSC) by 3.1% during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 945,599 shares of the industrial products company’s stock after selling 29,979 shares during the period. Pzena Investment Management LLC owned about 4.29% of ScanSource worth $41,597,000 as of its most recent SEC filing.

Other large investors have also made changes to their positions in the company. Y Intercept Hong Kong Ltd purchased a new stake in shares of ScanSource in the third quarter valued at $611,000. LSV Asset Management raised its position in ScanSource by 11.9% during the third quarter. LSV Asset Management now owns 602,960 shares of the industrial products company’s stock valued at $26,524,000 after buying an additional 64,300 shares during the period. New York State Common Retirement Fund lifted its stake in ScanSource by 326.9% in the 3rd quarter. New York State Common Retirement Fund now owns 36,696 shares of the industrial products company’s stock worth $1,614,000 after acquiring an additional 28,100 shares in the last quarter. Envestnet Asset Management Inc. boosted its position in ScanSource by 90.4% during the 2nd quarter. Envestnet Asset Management Inc. now owns 14,151 shares of the industrial products company’s stock worth $592,000 after acquiring an additional 6,720 shares during the period. Finally, American Century Companies Inc. boosted its position in ScanSource by 4.4% during the 2nd quarter. American Century Companies Inc. now owns 854,624 shares of the industrial products company’s stock worth $35,732,000 after acquiring an additional 36,161 shares during the period. Institutional investors and hedge funds own 97.91% of the company’s stock.

Insider Activity at ScanSource

In other news, CFO Stephen Jones sold 5,020 shares of the business’s stock in a transaction on Thursday, December 11th. The shares were sold at an average price of $42.30, for a total value of $212,346.00. Following the sale, the chief financial officer owned 83,326 shares in the company, valued at approximately $3,524,689.80. The trade was a 5.68% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Michael L. Baur sold 9,459 shares of the business’s stock in a transaction dated Tuesday, December 16th. The shares were sold at an average price of $41.42, for a total transaction of $391,791.78. Following the completion of the transaction, the chief executive officer owned 182,512 shares in the company, valued at approximately $7,559,647.04. This trade represents a 4.93% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 25,020 shares of company stock valued at $1,035,669 in the last 90 days. 3.18% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

A number of equities analysts have recently weighed in on the company. Weiss Ratings reiterated a “hold (c)” rating on shares of ScanSource in a report on Monday, December 29th. Wall Street Zen lowered shares of ScanSource from a “buy” rating to a “hold” rating in a research note on Saturday, January 17th. Finally, Zacks Research lowered shares of ScanSource from a “hold” rating to a “strong sell” rating in a research note on Monday, February 9th. One analyst has rated the stock with a Buy rating, two have given a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target of $42.50.

ScanSource Stock Performance

Shares of SCSC opened at $37.25 on Thursday. The company’s fifty day moving average is $40.05 and its 200-day moving average is $41.54. ScanSource, Inc. has a 12 month low of $28.75 and a 12 month high of $46.25. The firm has a market cap of $800.13 million, a price-to-earnings ratio of 11.43, a price-to-earnings-growth ratio of 0.62 and a beta of 1.28. The company has a quick ratio of 1.22, a current ratio of 1.96 and a debt-to-equity ratio of 0.11.

ScanSource (NASDAQ:SCSC) last released its quarterly earnings data on Thursday, February 5th. The industrial products company reported $0.80 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.00 by ($0.20). The business had revenue of $766.51 million during the quarter, compared to analyst estimates of $782.46 million. ScanSource had a net margin of 2.44% and a return on equity of 9.35%. The firm’s revenue for the quarter was up 2.5% on a year-over-year basis. During the same period in the previous year, the firm posted $0.85 EPS. Equities analysts expect that ScanSource, Inc. will post 3.33 EPS for the current fiscal year.

ScanSource Profile

ScanSource, Inc is a global provider of technology products and solutions designed to help businesses enhance operational efficiency and customer engagement. The company specializes in the distribution of point-of-sale (POS) systems, barcode and data capture devices, networking and communications equipment, and value-added software and cloud services. By combining hardware, software and professional services, ScanSource supports channel partners in delivering end-to-end solutions across multiple industries, including retail, hospitality, healthcare and logistics.

Founded in 1992 and headquartered in Greenville, South Carolina, ScanSource has built a broad international footprint, serving customers throughout North, Central and South America as well as Europe, the Middle East and Africa.