Prudential Financial Inc. Has $4.71 Million Holdings in ScanSource, Inc. (NASDAQ:SCSC)

Prudential Financial Inc. boosted its holdings in ScanSource, Inc. (NASDAQ:SCSC - Free Report) by 37.5% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 99,208 shares of the industrial products company's stock after acquiring an additional 27,060 shares during the quarter. Prudential Financial Inc. owned about 0.42% of ScanSource worth $4,707,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. JPMorgan Chase & Co. grew its stake in shares of ScanSource by 31.8% in 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 during the last quarter. Franklin Resources Inc. boosted its holdings in ScanSource by 9.9% during the third quarter. Franklin Resources Inc. now owns 22,577 shares of the industrial products company's stock worth $1,093,000 after buying an additional 2,026 shares in the last quarter. Barclays PLC grew its position in ScanSource by 97.9% in the third quarter. Barclays PLC now owns 54,346 shares of the industrial products company's stock worth $2,610,000 after buying an additional 26,881 shares during the last quarter. Allspring Global Investments Holdings LLC bought a new position in shares of ScanSource in the fourth quarter valued at $807,000. Finally, The Manufacturers Life Insurance Company increased its holdings in shares of ScanSource by 26.0% in the third quarter. The Manufacturers Life Insurance Company now owns 11,899 shares of the industrial products company's stock valued at $572,000 after buying an additional 2,459 shares in the last quarter. 97.91% of the stock is currently owned by institutional investors.

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ScanSource Price Performance

Shares of SCSC traded down $1.32 during trading hours on Friday, hitting $30.27. 299,814 shares of the company were exchanged, compared to its average volume of 231,803. The company has a debt-to-equity ratio of 0.15, a current ratio of 2.11 and a quick ratio of 1.30. The company has a market capitalization of $710.26 million, a PE ratio of 11.96, a PEG ratio of 1.14 and a beta of 1.41. The firm has a fifty day simple moving average of $37.53 and a 200-day simple moving average of $44.91. ScanSource, Inc. has a one year low of $29.55 and a one year high of $53.90.

ScanSource (NASDAQ:SCSC - Get Free Report) last released its quarterly earnings results on Thursday, January 30th. The industrial products company reported $0.85 earnings per share 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 last year, the business posted $0.85 earnings per share. As a group, sell-side analysts predict that ScanSource, Inc. will post 3.33 earnings per share for the current year.

Insiders Place Their Bets

In other news, CEO Michael L. Baur sold 15,000 shares of the stock in a transaction that occurred on 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 $6,332,991.60. This represents a 8.44 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO Stephen Jones sold 2,000 shares of the business'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 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. 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 over the last ninety days. 4.20% of the stock is currently owned by company insiders.

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.