Jacobs Levy Equity Management Inc. Has $10.61 Million Position in ScanSource, Inc. (NASDAQ:SCSC)

Jacobs Levy Equity Management Inc. increased its holdings in shares of ScanSource, Inc. (NASDAQ:SCSC - Free Report) by 12.3% during the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 220,923 shares of the industrial products company's stock after acquiring an additional 24,264 shares during the period. Jacobs Levy Equity Management Inc. owned about 0.93% of ScanSource worth $10,611,000 at the end of the most recent reporting period.

Several other institutional investors have also made changes to their positions in the business. Hotchkis & Wiley Capital Management LLC boosted its position in ScanSource by 1.2% in the third quarter. Hotchkis & Wiley Capital Management LLC now owns 194,809 shares of the industrial products company's stock valued at $9,357,000 after buying an additional 2,300 shares in the last quarter. Paloma Partners Management Co acquired a new position in ScanSource in the third quarter valued at about $399,000. Point72 Asia Singapore Pte. Ltd. acquired a new position in ScanSource in the third quarter valued at about $330,000. 272 Capital LP acquired a new position in ScanSource in the third quarter valued at about $432,000. Finally, Wasatch Advisors LP boosted its position in ScanSource by 13.2% in the third quarter. Wasatch Advisors LP now owns 1,097,992 shares of the industrial products company's stock valued at $52,737,000 after buying an additional 127,883 shares in the last quarter. 97.91% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Separately, Raymond James lowered shares of ScanSource from an "outperform" rating to a "market perform" rating in a research report on Thursday, August 15th.

ScanSource Price Performance

Shares of SCSC stock traded up $0.81 during trading hours on Friday, reaching $52.24. 139,488 shares of the company were exchanged, compared to its average volume of 208,876. ScanSource, Inc. has a fifty-two week low of $31.01 and a fifty-two week high of $53.76. The stock's fifty day moving average is $48.46 and its two-hundred day moving average is $47.54. The company has a market cap of $1.24 billion, a price-to-earnings ratio of 16.74, 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 current ratio of 2.03 and a quick ratio of 1.27.

ScanSource (NASDAQ:SCSC - Get Free Report) last posted its quarterly earnings results on Thursday, November 7th. The industrial products company reported $0.84 earnings per share for the quarter, topping analysts' consensus estimates of $0.77 by $0.07. The business had revenue of $775.58 million during the quarter, compared to the consensus estimate 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% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.74 earnings per share. Sell-side analysts forecast that ScanSource, Inc. will post 3.51 earnings per share for the current fiscal year.

Insider Buying and Selling at ScanSource

In related news, CEO Michael L. Baur sold 29,617 shares of the stock in a transaction on Thursday, November 14th. The shares were sold at an average price of $49.20, for a total transaction of $1,457,156.40. Following the completion of the transaction, the chief executive officer now owns 177,760 shares in the company, valued at approximately $8,745,792. This represents a 14.28 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Over the last 90 days, insiders sold 53,010 shares of company stock valued at $2,611,843. Corporate 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.