Public Employees Retirement System of Ohio Raises Holdings in ScanSource, Inc. (NASDAQ:SCSC)

Public Employees Retirement System of Ohio boosted its holdings in shares of ScanSource, Inc. (NASDAQ:SCSC) by 42.4% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 16,047 shares of the industrial products company’s stock after acquiring an additional 4,780 shares during the quarter. Public Employees Retirement System of Ohio’s holdings in ScanSource were worth $771,000 at the end of the most recent quarter.

Several other large investors have also modified their holdings of the business. Royce & Associates LP raised its holdings in ScanSource by 177.3% in the 3rd quarter. Royce & Associates LP now owns 21,432 shares of the industrial products company’s stock valued at $1,029,000 after buying an additional 13,703 shares during the period. Janney Montgomery Scott LLC purchased a new stake in shares of ScanSource in the 3rd quarter valued at approximately $1,674,000. Cornercap Investment Counsel Inc. acquired a new position in shares of ScanSource in the 2nd quarter worth approximately $524,000. Pacer Advisors Inc. lifted its holdings in shares of ScanSource by 54.2% in the 2nd quarter. Pacer Advisors Inc. now owns 2,319,469 shares of the industrial products company’s stock worth $102,776,000 after acquiring an additional 815,240 shares during the last quarter. Finally, Dynamic Technology Lab Private Ltd boosted its position in shares of 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 worth $1,630,000 after purchasing an additional 16,746 shares during the period. Institutional investors and hedge funds own 97.91% of the company’s stock.

ScanSource Stock Up 0.9 %

Shares of NASDAQ SCSC opened at $49.55 on Friday. The company has a quick ratio of 1.27, a current ratio of 2.03 and a debt-to-equity ratio of 0.15. The business’s 50 day moving average is $49.29 and its two-hundred day moving average is $47.71. ScanSource, Inc. has a 52-week low of $31.01 and a 52-week high of $53.90. The firm has a market cap of $1.18 billion, a price-to-earnings ratio of 15.88, a PEG ratio of 1.50 and a beta of 1.44.

ScanSource (NASDAQ:SCSC) last posted its quarterly earnings data on Thursday, November 7th. The industrial products company reported $0.84 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.77 by $0.07. ScanSource had a return on equity of 8.53% and a net margin of 2.49%. The firm had revenue of $775.58 million for the quarter, compared to the consensus estimate of $774.90 million. During the same quarter in the previous year, the business earned $0.74 EPS. The company’s quarterly revenue was down 11.5% compared to the same quarter last year. Research analysts predict that ScanSource, Inc. will post 3.51 EPS for the current year.

Insiders Place Their Bets

In other news, CEO Michael L. Baur sold 15,081 shares of the stock in a transaction on Monday, November 18th. The stock was sold at an average price of $49.57, for a total value of $747,565.17. Following the sale, the chief executive officer now directly owns 177,760 shares in the company, valued at approximately $8,811,563.20. This trade represents a 7.82 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders have sold 53,010 shares of company stock worth $2,611,843 over the last three months. Company insiders own 4.20% of the company’s stock.

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.