Norges Bank Makes New Investment in ScanSource, Inc. (NASDAQ:SCSC)

Norges Bank purchased a new stake in shares of ScanSource, Inc. (NASDAQ:SCSC - Free Report) during the 4th quarter, according to the company in its most recent filing with the SEC. The fund purchased 87,184 shares of the industrial products company's stock, valued at approximately $4,137,000. Norges Bank owned about 0.37% of ScanSource as of its most recent filing with the SEC.

Other hedge funds have also modified their holdings of the company. Picton Mahoney Asset Management boosted its position in ScanSource by 50.9% in the fourth quarter. Picton Mahoney Asset Management now owns 2,246 shares of the industrial products company's stock valued at $106,000 after buying an additional 758 shares during the last quarter. Mitsubishi UFJ Asset Management Co. Ltd. purchased a new stake in shares of ScanSource in the 4th quarter valued at $126,000. KLP Kapitalforvaltning AS acquired a new stake in shares of ScanSource in the fourth quarter worth $204,000. Versor Investments LP acquired a new stake in shares of ScanSource in the fourth quarter worth $218,000. Finally, AlphaQuest LLC lifted its position in ScanSource by 252.4% during the fourth quarter. AlphaQuest LLC now owns 4,662 shares of the industrial products company's stock valued at $221,000 after purchasing an additional 3,339 shares during the period. 97.91% of the stock is owned by institutional investors and hedge funds.

ScanSource Stock Performance

SCSC traded up $0.13 during midday trading on Tuesday, hitting $31.24. 16,104 shares of the company were exchanged, compared to its average volume of 232,697. The company's 50 day simple moving average is $35.36 and its 200 day simple moving average is $43.94. The firm has a market capitalization of $733.04 million, a price-to-earnings ratio of 12.33, a price-to-earnings-growth ratio of 1.14 and a beta of 1.34. ScanSource, Inc. has a 1-year low of $28.75 and a 1-year high of $53.90. The company has a current ratio of 2.11, a quick ratio of 1.30 and a debt-to-equity ratio of 0.15.

ScanSource (NASDAQ:SCSC - Get Free Report) last posted 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 business earned $0.85 EPS. As a group, sell-side analysts predict that ScanSource, Inc. will post 3.33 earnings per share for the current year.

Insider Activity at ScanSource

In related news, CEO Michael L. Baur sold 15,000 shares of ScanSource stock in a transaction dated Thursday, February 6th. The stock was sold at an average price of $38.91, for a total value of $583,650.00. Following the completion of the transaction, the chief executive officer now owns 162,760 shares in the company, valued at $6,332,991.60. The trade was a 8.44 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Stephen Jones sold 2,000 shares of the firm's stock in a transaction that occurred on Friday, March 21st. The shares were sold at an average price of $36.14, for a total value of $72,280.00. Following the completion of the sale, the chief financial officer now directly owns 69,816 shares in the company, valued at approximately $2,523,150.24. The trade was a 2.78 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 18,994 shares of company stock worth $731,702 in the last three months. Company insiders own 4.20% of the company's stock.

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.