JPMorgan Chase & Co. Buys 58,927 Shares of ScanSource, Inc. (NASDAQ:SCSC)

JPMorgan Chase & Co. increased its stake in ScanSource, Inc. (NASDAQ:SCSC - Free Report) by 15.6% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 436,007 shares of the industrial products company's stock after purchasing an additional 58,927 shares during the quarter. JPMorgan Chase & Co. owned approximately 1.86% of ScanSource worth $20,689,000 at the end of the most recent quarter.

Several other large investors have also made changes to their positions in SCSC. Mitsubishi UFJ Asset Management Co. Ltd. acquired a new stake in ScanSource during the 4th quarter worth about $126,000. EntryPoint Capital LLC acquired a new stake in shares of ScanSource during the 4th quarter worth about $344,000. Prudential Financial Inc. boosted its holdings in ScanSource by 37.5% during the 4th quarter. Prudential Financial Inc. now owns 99,208 shares of the industrial products company's stock valued at $4,707,000 after acquiring an additional 27,060 shares during the period. KLP Kapitalforvaltning AS purchased a new position in shares of ScanSource in the 4th quarter valued at about $204,000. Finally, Sei Investments Co. raised its holdings in ScanSource by 15.3% during the fourth quarter. Sei Investments Co. now owns 92,159 shares of the industrial products company's stock worth $4,373,000 after purchasing an additional 12,216 shares in the last quarter. 97.91% of the stock is currently owned by hedge funds and other institutional investors.

ScanSource Stock Performance

Shares of SCSC traded down $0.09 during mid-day trading on Wednesday, hitting $31.27. 8,673 shares of the company's stock were exchanged, compared to its average volume of 233,303. The company has a current ratio of 2.11, a quick ratio of 1.30 and a debt-to-equity ratio of 0.15. The business's 50 day moving average is $35.21 and its two-hundred day moving average is $43.85. ScanSource, Inc. has a fifty-two week low of $28.75 and a fifty-two week high of $53.90. The firm has a market capitalization of $733.60 million, a P/E ratio of 12.43, a P/E/G ratio of 1.14 and a beta of 1.34.

ScanSource (NASDAQ:SCSC - Get Free Report) last announced its quarterly earnings data on Thursday, January 30th. The industrial products company reported $0.85 EPS for the quarter, missing analysts' consensus estimates of $0.89 by ($0.04). ScanSource had a net margin of 2.08% and a return on equity of 8.55%. During the same period in the previous year, the company posted $0.85 earnings per share. On average, equities analysts expect that ScanSource, Inc. will post 3.33 earnings per share for the current year.

Insider Buying and Selling at ScanSource

In other news, CEO Michael L. Baur sold 1,994 shares of the business's stock in a transaction on Monday, February 10th. The shares were sold at an average price of $38.00, for a total value of $75,772.00. Following the completion of the sale, the chief executive officer now directly owns 142,760 shares in the company, valued at approximately $5,424,880. The trade was a 1.38 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CFO Stephen Jones sold 2,000 shares of the business's stock in a transaction on Friday, March 21st. The stock was sold at an average price of $36.14, for a total transaction of $72,280.00. Following the transaction, the chief financial officer now directly owns 69,816 shares in the company, valued at $2,523,150.24. This trade represents a 2.78 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 18,994 shares of company stock worth $731,702. 4.20% of the stock is owned by company insiders.

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.