Raymond James Financial Inc. Makes New $5.69 Million Investment in ScanSource, Inc. (NASDAQ:SCSC)

Raymond James Financial Inc. bought a new position in ScanSource, Inc. (NASDAQ:SCSC) in the 4th quarter, Holdings Channel.com reports. The firm bought 119,847 shares of the industrial products company’s stock, valued at approximately $5,687,000.

Other large investors have also modified their holdings of the company. JPMorgan Chase & Co. boosted its holdings in 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. lifted its position in shares of ScanSource by 9.9% during the third 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 in the last quarter. Barclays PLC boosted its stake in shares of ScanSource by 97.9% in the third quarter. Barclays PLC now owns 54,346 shares of the industrial products company’s stock valued at $2,610,000 after purchasing an additional 26,881 shares during the period. Allspring Global Investments Holdings LLC acquired a new stake in ScanSource during the 4th quarter valued at $807,000. Finally, Dynamic Technology Lab Private Ltd grew its holdings in ScanSource by 97.4% during the 3rd quarter. Dynamic Technology Lab Private Ltd now owns 33,939 shares of the industrial products company’s stock valued at $1,630,000 after purchasing an additional 16,746 shares in the last quarter. Institutional investors and hedge funds own 97.91% of the company’s stock.

ScanSource Stock Performance

Shares of SCSC stock opened at $36.92 on Tuesday. The company has a debt-to-equity ratio of 0.15, a current ratio of 2.11 and a quick ratio of 1.30. The company’s fifty day moving average price is $40.51 and its two-hundred day moving average price is $45.64. The firm has a market capitalization of $866.29 million, a P/E ratio of 14.59, a P/E/G ratio of 1.14 and a beta of 1.41. ScanSource, Inc. has a 12 month low of $34.49 and a 12 month high of $53.90.

ScanSource (NASDAQ:SCSC) last announced its earnings results on Thursday, January 30th. The industrial products company reported $0.85 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.89 by ($0.04). ScanSource had a return on equity of 8.55% and a net margin of 2.08%. During the same period in the previous year, the business earned $0.85 EPS. On average, research analysts anticipate that ScanSource, Inc. will post 3.33 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other ScanSource news, CEO Michael L. Baur sold 15,000 shares of the firm’s stock in a transaction on Thursday, February 6th. The shares were sold at an average price of $38.91, for a total transaction of $583,650.00. Following the completion of the transaction, the chief executive officer now directly owns 162,760 shares of the company’s stock, valued at $6,332,991.60. This trade represents a 8.44 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 4.20% of the stock is owned by company insiders.

ScanSource Company 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.