Assenagon Asset Management S.A. Decreases Stake in ScanSource, Inc. (NASDAQ:SCSC)

Assenagon Asset Management S.A. lowered its position in ScanSource, Inc. (NASDAQ:SCSC) by 23.9% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 66,786 shares of the industrial products company’s stock after selling 20,971 shares during the quarter. Assenagon Asset Management S.A.’s holdings in ScanSource were worth $3,169,000 as of its most recent SEC filing.

Other institutional investors also recently added to or reduced their stakes in the company. Royce & Associates LP lifted its stake in ScanSource by 177.3% in the third quarter. Royce & Associates LP now owns 21,432 shares of the industrial products company’s stock worth $1,029,000 after acquiring an additional 13,703 shares during the last quarter. JPMorgan Chase & Co. lifted its stake in ScanSource by 31.8% in the third quarter. JPMorgan Chase & Co. now owns 377,080 shares of the industrial products company’s stock worth $18,111,000 after acquiring an additional 91,069 shares during the last quarter. Janney Montgomery Scott LLC purchased a new position in ScanSource in the third quarter worth approximately $1,674,000. Franklin Resources Inc. lifted its stake in ScanSource by 9.9% in 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. Finally, Barclays PLC lifted its stake 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 acquiring an additional 26,881 shares during the last quarter. Hedge funds and other institutional investors own 97.91% of the company’s stock.

Insiders Place Their Bets

In other news, CAO Brandy Ford sold 1,845 shares of ScanSource stock in a transaction on Thursday, December 19th. The shares were sold at an average price of $49.38, for a total value of $91,106.10. Following the transaction, the chief accounting officer now directly owns 9,506 shares of the company’s stock, valued at $469,406.28. The trade was a 16.25 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, CEO Michael L. Baur sold 29,617 shares of ScanSource stock in a transaction on Thursday, November 14th. The shares were sold at an average price of $49.20, for a total transaction of $1,457,156.40. Following the completion of the transaction, the chief executive officer now directly owns 177,760 shares in the company, valued at $8,745,792. The trade was a 14.28 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 54,855 shares of company stock valued at $2,702,949. 4.20% of the stock is owned by corporate insiders.

ScanSource Stock Up 2.4 %

Shares of ScanSource stock opened at $51.68 on Wednesday. ScanSource, Inc. has a 52-week low of $31.01 and a 52-week high of $53.90. The company has a 50 day moving average of $49.84 and a 200 day moving average of $48.36. The company has a quick ratio of 1.27, a current ratio of 2.03 and a debt-to-equity ratio of 0.15. The company has a market capitalization of $1.23 billion, a P/E ratio of 16.56, a P/E/G ratio of 1.44 and a beta of 1.45.

ScanSource (NASDAQ:SCSC) last released its quarterly earnings data on Thursday, November 7th. The industrial products company reported $0.84 earnings per share for the quarter, topping analysts’ consensus estimates of $0.77 by $0.07. ScanSource had a net margin of 2.49% and a return on equity of 8.53%. The company had revenue of $775.58 million for the quarter, compared to analysts’ expectations of $774.90 million. During the same quarter last year, the company earned $0.74 earnings per share. The firm’s revenue for the quarter was down 11.5% on a year-over-year basis. As a group, research analysts forecast that ScanSource, Inc. will post 3.51 EPS for the current fiscal year.

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.