UBS Group AG Purchases 12,258 Shares of ScanSource, Inc. $SCSC

UBS Group AG lifted its position in ScanSource, Inc. (NASDAQ:SCSC) by 16.1% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 88,590 shares of the industrial products company’s stock after acquiring an additional 12,258 shares during the quarter. UBS Group AG owned approximately 0.40% of ScanSource worth $3,460,000 at the end of the most recent reporting period.

Several other institutional investors have also recently made changes to their positions in the company. Vanguard Group Inc. grew its stake in shares of ScanSource by 2.9% in the 4th quarter. Vanguard Group Inc. now owns 2,827,007 shares of the industrial products company’s stock worth $110,423,000 after acquiring an additional 78,993 shares in the last quarter. B. Metzler seel. Sohn & Co. AG grew its stake in shares of ScanSource by 39.2% in the 4th quarter. B. Metzler seel. Sohn & Co. AG now owns 31,467 shares of the industrial products company’s stock worth $1,229,000 after acquiring an additional 8,865 shares in the last quarter. Teacher Retirement System of Texas grew its stake in shares of ScanSource by 333.8% in the 4th quarter. Teacher Retirement System of Texas now owns 153,041 shares of the industrial products company’s stock worth $5,978,000 after acquiring an additional 117,762 shares in the last quarter. Universal Beteiligungs und Servicegesellschaft mbH grew its stake in shares of ScanSource by 65.3% in the 4th quarter. Universal Beteiligungs und Servicegesellschaft mbH now owns 133,593 shares of the industrial products company’s stock worth $5,222,000 after acquiring an additional 52,763 shares in the last quarter. Finally, Harbor Capital Advisors Inc. grew its stake in shares of ScanSource by 12.7% in the 4th quarter. Harbor Capital Advisors Inc. now owns 5,233 shares of the industrial products company’s stock worth $204,000 after acquiring an additional 590 shares in the last quarter. Institutional investors own 97.91% of the company’s stock.

Analyst Upgrades and Downgrades

Separately, Zacks Research upgraded shares of ScanSource from a “strong sell” rating to a “hold” rating in a research note on Tuesday, April 7th. Three equities research analysts have rated the stock with a Hold rating, Based on data from MarketBeat, ScanSource has a consensus rating of “Hold” and an average price target of $43.00.

ScanSource Price Performance

SCSC opened at $44.09 on Monday. The firm has a market cap of $896.13 million, a P/E ratio of 13.36, a PEG ratio of 0.75 and a beta of 1.28. The firm has a 50-day moving average of $39.17 and a 200 day moving average of $39.52. The company has a debt-to-equity ratio of 0.11, a quick ratio of 1.20 and a current ratio of 1.86. ScanSource, Inc. has a fifty-two week low of $33.76 and a fifty-two week high of $46.63.

ScanSource (NASDAQ:SCSC) last posted its quarterly earnings results on Thursday, May 7th. The industrial products company reported $0.94 earnings per share for the quarter, beating the consensus estimate of $0.91 by $0.03. The company had revenue of $758.59 million during the quarter, compared to analyst estimates of $738.55 million. ScanSource had a net margin of 2.38% and a return on equity of 9.35%. The firm’s revenue for the quarter was up 8.8% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.86 earnings per share. On average, research analysts expect that ScanSource, Inc. will post 3.9 EPS for the current year.

Insiders Place Their Bets

In related news, CEO Michael L. Baur sold 21,173 shares of the stock in a transaction dated Friday, March 13th. The shares were sold at an average price of $35.76, for a total transaction of $757,146.48. Following the completion of the transaction, the chief executive officer owned 161,339 shares in the company, valued at approximately $5,769,482.64. This represents a 11.60% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 3.18% of the company’s stock.

ScanSource Company Profile

ScanSource, Inc is a global provider of technology products and solutions designed to help businesses enhance operational efficiency and customer engagement. The company specializes in the distribution of point-of-sale (POS) systems, barcode and data capture devices, networking and communications equipment, and value-added software and cloud services. By combining hardware, software and professional services, ScanSource supports channel partners in delivering end-to-end solutions across multiple industries, including retail, hospitality, healthcare and logistics.

Founded in 1992 and headquartered in Greenville, South Carolina, ScanSource has built a broad international footprint, serving customers throughout North, Central and South America as well as Europe, the Middle East and Africa.