Raymond James Financial Inc. Takes Position in ScanSource, Inc. (NASDAQ:SCSC)

Raymond James Financial Inc. bought a new position in ScanSource, Inc. (NASDAQ:SCSC - Free Report) in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The fund bought 119,847 shares of the industrial products company's stock, valued at approximately $5,687,000. Raymond James Financial Inc. owned about 0.51% of ScanSource as of its most recent filing with the SEC.

Other institutional investors have also recently made changes to their positions in the company. Martingale Asset Management L P boosted its holdings in ScanSource by 1.3% in the fourth quarter. Martingale Asset Management L P now owns 58,899 shares of the industrial products company's stock worth $2,795,000 after purchasing an additional 730 shares during the last quarter. Legal & General Group Plc boosted its stake in shares of ScanSource by 4.1% in the 4th quarter. Legal & General Group Plc now owns 62,470 shares of the industrial products company's stock worth $2,964,000 after buying an additional 2,481 shares during the last quarter. Invesco Ltd. grew its holdings in shares of ScanSource by 2.4% in the fourth quarter. Invesco Ltd. now owns 618,099 shares of the industrial products company's stock worth $29,329,000 after acquiring an additional 14,669 shares during the period. Envestnet Asset Management Inc. increased its position in ScanSource by 43.2% during the fourth quarter. Envestnet Asset Management Inc. now owns 7,538 shares of the industrial products company's stock valued at $358,000 after acquiring an additional 2,273 shares during the last quarter. Finally, Integrated Quantitative Investments LLC bought a new position in ScanSource in the fourth quarter valued at about $1,387,000. Hedge funds and other institutional investors own 97.91% of the company's stock.

ScanSource Stock Performance

Shares of ScanSource stock traded up $0.35 during trading hours on Friday, reaching $32.96. 118,350 shares of the stock traded hands, compared to its average volume of 231,095. The company has a 50 day moving average price of $34.28 and a 200 day moving average price of $42.96. ScanSource, Inc. has a one year low of $28.75 and a one year high of $53.90. The company has a quick ratio of 1.30, a current ratio of 2.11 and a debt-to-equity ratio of 0.15. The firm has a market capitalization of $773.37 million, a price-to-earnings ratio of 13.03, a P/E/G ratio of 1.14 and a beta of 1.34.

ScanSource (NASDAQ:SCSC - Get Free Report) last announced its earnings results 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 quarter in the previous year, the firm earned $0.85 EPS. On average, equities research analysts expect that ScanSource, Inc. will post 3.33 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, CFO Stephen Jones sold 2,000 shares of the firm's stock in a transaction 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 sale, 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 sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Michael L. Baur sold 1,994 shares of the company's stock in a transaction on Monday, February 10th. The stock was sold at an average price of $38.00, for a total transaction of $75,772.00. Following the completion of the transaction, the chief executive officer now directly owns 142,760 shares of the company's stock, valued at $5,424,880. This represents a 1.38 % decrease in their position. 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 quarter. 4.20% of the stock is currently owned by corporate 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.