Massachusetts Financial Services Co. MA Acquires New Position in ScanSource, Inc. (NASDAQ:SCSC)

Massachusetts Financial Services Co. MA acquired a new position in shares of ScanSource, Inc. (NASDAQ:SCSC) in the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm acquired 20,366 shares of the industrial products company’s stock, valued at approximately $966,000. Massachusetts Financial Services Co. MA owned about 0.09% of ScanSource at the end of the most recent quarter.

Other institutional investors and hedge funds also recently bought and sold shares of the company. JPMorgan Chase & Co. raised its position in shares of ScanSource by 31.8% during the 3rd quarter. JPMorgan Chase & Co. now owns 377,080 shares of the industrial products company’s stock valued at $18,111,000 after buying an additional 91,069 shares during the period. Franklin Resources Inc. increased its stake 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 acquiring an additional 2,026 shares during the last quarter. Barclays PLC raised 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 valued at $2,610,000 after purchasing an additional 26,881 shares during the period. Allspring Global Investments Holdings LLC acquired a new position in shares of ScanSource in the 4th quarter valued at $807,000. Finally, The Manufacturers Life Insurance Company grew its holdings in shares of ScanSource by 26.0% during the 3rd quarter. The Manufacturers Life Insurance Company now owns 11,899 shares of the industrial products company’s stock worth $572,000 after purchasing an additional 2,459 shares during the period. 97.91% of the stock is currently owned by institutional investors and hedge funds.

ScanSource Stock Down 1.6 %

Shares of NASDAQ:SCSC opened at $29.63 on Wednesday. The company has a market capitalization of $695.24 million, a price-to-earnings ratio of 11.71, a PEG ratio of 1.14 and a beta of 1.34. ScanSource, Inc. has a 12-month low of $28.75 and a 12-month high of $53.90. The business has a 50-day moving average price of $36.29 and a 200 day moving average price of $44.50. 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) last announced 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 quarter last year, the firm earned $0.85 EPS. Sell-side analysts expect that ScanSource, Inc. will post 3.33 EPS for the current year.

Insider Transactions at ScanSource

In other news, CEO Michael L. Baur sold 15,000 shares of the stock in a transaction dated Thursday, February 6th. The shares were sold at an average price of $38.91, for a total transaction of $583,650.00. Following the sale, the chief executive officer now owns 162,760 shares of the company’s stock, valued at approximately $6,332,991.60. This represents a 8.44 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Stephen Jones sold 2,000 shares of ScanSource 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 completion of the transaction, the chief financial officer now owns 69,816 shares of the company’s stock, valued at $2,523,150.24. This trade represents a 2.78 % 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 ninety days. Company insiders own 4.20% of the company’s stock.

ScanSource 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.