JPMorgan Chase & Co. Acquires 91,069 Shares of ScanSource, Inc. (NASDAQ:SCSC)

JPMorgan Chase & Co. increased its holdings in ScanSource, Inc. (NASDAQ:SCSC - Free Report) by 31.8% in the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 377,080 shares of the industrial products company's stock after acquiring an additional 91,069 shares during the quarter. JPMorgan Chase & Co. owned about 1.58% of ScanSource worth $18,111,000 as of its most recent filing with the Securities & Exchange Commission.

Several other large investors have also added to or reduced their stakes in SCSC. Rhumbline Advisers lifted its stake in shares of ScanSource by 0.3% in the 2nd quarter. Rhumbline Advisers now owns 85,720 shares of the industrial products company's stock valued at $3,798,000 after purchasing an additional 264 shares during the period. Quest Partners LLC purchased a new position in ScanSource during the second quarter valued at $41,000. American Century Companies Inc. boosted its holdings in shares of ScanSource by 75.5% during the 2nd quarter. American Century Companies Inc. now owns 521,127 shares of the industrial products company's stock valued at $23,091,000 after buying an additional 224,160 shares in the last quarter. Cornercap Investment Counsel Inc. purchased a new stake in shares of ScanSource in the 2nd quarter worth about $524,000. Finally, Dimensional Fund Advisors LP increased its stake in shares of ScanSource by 2.0% in the 2nd quarter. Dimensional Fund Advisors LP now owns 1,983,625 shares of the industrial products company's stock worth $87,894,000 after acquiring an additional 39,533 shares in the last quarter. Institutional investors own 97.91% of the company's stock.

Insider Transactions at ScanSource

In other ScanSource news, CEO Michael L. Baur sold 15,081 shares of ScanSource 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 completion of the sale, the chief executive officer now owns 177,760 shares of the company's stock, valued at approximately $8,811,563.20. This trade represents a 7.82 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CAO Brandy Ford sold 1,845 shares of the business's stock in a transaction on Thursday, December 19th. The stock was sold at an average price of $49.38, for a total value of $91,106.10. Following the completion of the transaction, the chief accounting officer now owns 9,506 shares of the company's stock, valued at $469,406.28. This represents a 16.25 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 54,855 shares of company stock valued at $2,702,949 in the last quarter. 4.20% of the stock is owned by insiders.

ScanSource Stock Down 1.1 %

NASDAQ:SCSC traded down $0.51 during mid-day trading on Friday, hitting $47.35. 154,728 shares of the company's stock were exchanged, compared to its average volume of 165,421. ScanSource, Inc. has a one year low of $31.01 and a one year high of $53.90. The business has a fifty day moving average price of $49.67 and a 200 day moving average price of $47.96. The company has a market cap of $1.13 billion, a PE ratio of 15.18, a P/E/G ratio of 1.50 and a beta of 1.45. 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 the consensus estimate of $0.77 by $0.07. The company had revenue of $775.58 million for the quarter, compared to the consensus estimate of $774.90 million. ScanSource had a return on equity of 8.53% and a net margin of 2.49%. The firm's quarterly revenue was down 11.5% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.74 EPS. Equities analysts predict that ScanSource, Inc. will post 3.51 EPS for the current year.

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.