Principal Financial Group Inc. Decreases Stock Holdings in ScanSource, Inc. (NASDAQ:SCSC)

Principal Financial Group Inc. lowered its position in ScanSource, Inc. (NASDAQ:SCSC) by 15.5% during the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 116,189 shares of the industrial products company’s stock after selling 21,277 shares during the period. Principal Financial Group Inc.’s holdings in ScanSource were worth $5,581,000 as of its most recent SEC filing.

Several other large investors have also recently modified their holdings of SCSC. Pacer Advisors Inc. boosted its stake in ScanSource by 54.2% in the second quarter. Pacer Advisors Inc. now owns 2,319,469 shares of the industrial products company’s stock valued at $102,776,000 after acquiring an additional 815,240 shares in the last quarter. American Century Companies Inc. boosted its position in shares of ScanSource by 75.5% in the 2nd quarter. American Century Companies Inc. now owns 521,127 shares of the industrial products company’s stock worth $23,091,000 after purchasing an additional 224,160 shares in the last quarter. Millennium Management LLC boosted its position in shares of ScanSource by 2,640.7% in the 2nd quarter. Millennium Management LLC now owns 136,266 shares of the industrial products company’s stock worth $6,038,000 after purchasing an additional 131,294 shares in the last quarter. Wasatch Advisors LP grew its stake in ScanSource by 13.2% during the 3rd quarter. Wasatch Advisors LP now owns 1,097,992 shares of the industrial products company’s stock worth $52,737,000 after buying an additional 127,883 shares during the last quarter. Finally, Dimensional Fund Advisors LP increased its position in ScanSource by 2.0% during the 2nd quarter. Dimensional Fund Advisors LP now owns 1,983,625 shares of the industrial products company’s stock valued at $87,894,000 after buying an additional 39,533 shares in the last quarter. Institutional investors own 97.91% of the company’s stock.

Insider Activity at ScanSource

In other news, CEO Michael L. Baur sold 15,081 shares of the stock in a transaction dated Monday, November 18th. The stock was sold at an average price of $49.57, for a total value of $747,565.17. Following the transaction, the chief executive officer now directly owns 177,760 shares of the company’s stock, valued at approximately $8,811,563.20. This represents a 7.82 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CAO Brandy Ford sold 1,845 shares of ScanSource stock in a transaction dated Thursday, December 19th. The stock was sold at an average price of $49.38, for a total value of $91,106.10. Following the sale, the chief accounting officer now directly owns 9,506 shares of the company’s stock, valued at $469,406.28. This trade represents a 16.25 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 54,855 shares of company stock valued at $2,702,949 in the last ninety days. Company insiders own 4.20% of the company’s stock.

ScanSource Price Performance

Shares of NASDAQ SCSC opened at $47.45 on Thursday. ScanSource, Inc. has a fifty-two week low of $31.01 and a fifty-two week high of $53.90. The company has a market cap of $1.13 billion, a PE ratio of 15.21, a P/E/G ratio of 1.50 and a beta of 1.44. The company has a debt-to-equity ratio of 0.15, a quick ratio of 1.27 and a current ratio of 2.03. The business has a 50-day simple moving average of $49.30 and a two-hundred day simple moving average of $47.85.

ScanSource (NASDAQ:SCSC) last released its earnings results on Thursday, November 7th. The industrial products company reported $0.84 EPS for the quarter, topping analysts’ consensus estimates of $0.77 by $0.07. The company had revenue of $775.58 million during the quarter, compared to analysts’ expectations of $774.90 million. ScanSource had a net margin of 2.49% and a return on equity of 8.53%. ScanSource’s revenue for the quarter was down 11.5% on a year-over-year basis. During the same period last year, the business earned $0.74 EPS. As a group, equities analysts expect that ScanSource, Inc. will post 3.51 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.