Raymond James Financial Inc. Buys New Position in ScanSource, Inc. (NASDAQ:SCSC)

Raymond James Financial Inc. purchased a new stake in ScanSource, Inc. (NASDAQ:SCSC - Free Report) in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund purchased 119,847 shares of the industrial products company's stock, valued at approximately $5,687,000. Raymond James Financial Inc. owned 0.51% of ScanSource at the end of the most recent reporting period.

A number of other institutional investors also recently modified their holdings of SCSC. JPMorgan Chase & Co. grew its position in shares of ScanSource by 31.8% during the 3rd quarter. JPMorgan Chase & Co. now owns 377,080 shares of the industrial products company's stock worth $18,111,000 after purchasing an additional 91,069 shares in the last quarter. Franklin Resources Inc. lifted its position in shares of ScanSource by 9.9% during the 3rd quarter. Franklin Resources Inc. now owns 22,577 shares of the industrial products company's stock valued at $1,093,000 after acquiring an additional 2,026 shares during the period. Barclays PLC grew its holdings in shares of ScanSource by 97.9% during the 3rd quarter. Barclays PLC now owns 54,346 shares of the industrial products company's stock worth $2,610,000 after purchasing an additional 26,881 shares in the last quarter. Allspring Global Investments Holdings LLC bought a new position in shares of ScanSource in the fourth quarter worth $807,000. Finally, Dynamic Technology Lab Private Ltd raised its stake in ScanSource by 97.4% in the third 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 own 97.91% of the company's stock.

Insiders Place Their Bets

In other ScanSource news, CFO Stephen Jones sold 2,000 shares of the company's stock in a transaction dated Friday, March 21st. The stock was sold at an average price of $36.14, for a total value of $72,280.00. Following the sale, the chief financial officer now owns 69,816 shares in the company, valued at approximately $2,523,150.24. The trade was a 2.78 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, CEO Michael L. Baur sold 15,000 shares of the stock in a transaction dated Thursday, February 6th. The shares were sold at an average price of $38.91, for a total value of $583,650.00. Following the completion of the sale, the chief executive officer now directly owns 162,760 shares of the company's stock, valued at approximately $6,332,991.60. The trade was a 8.44 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 18,994 shares of company stock valued at $731,702. 4.20% of the stock is currently owned by insiders.

ScanSource Price Performance

SCSC traded down $0.97 on Friday, hitting $34.47. 242,404 shares of the stock were exchanged, compared to its average volume of 228,900. The company has a debt-to-equity ratio of 0.15, a current ratio of 2.11 and a quick ratio of 1.30. ScanSource, Inc. has a 12 month low of $34.34 and a 12 month high of $53.90. The firm has a market capitalization of $808.80 million, a price-to-earnings ratio of 13.62, a PEG ratio of 1.14 and a beta of 1.41. The business has a 50-day moving average of $39.68 and a two-hundred day moving average of $45.43.

ScanSource (NASDAQ:SCSC - Get Free Report) last issued its earnings results on Thursday, January 30th. The industrial products company reported $0.85 EPS for the quarter, missing the consensus estimate 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 last year, the company posted $0.85 EPS. Sell-side analysts forecast that ScanSource, Inc. will post 3.33 EPS for the current fiscal year.

About ScanSource

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.