Teacher Retirement System of Texas Cuts Stock Position in ScanSource, Inc. (NASDAQ:SCSC)

Teacher Retirement System of Texas trimmed its position in shares of ScanSource, Inc. (NASDAQ:SCSC) by 59.9% during the fourth quarter, HoldingsChannel.com reports. The institutional investor owned 49,366 shares of the industrial products company’s stock after selling 73,599 shares during the quarter. Teacher Retirement System of Texas’ holdings in ScanSource were worth $2,342,000 at the end of the most recent reporting period.

A number of other hedge funds also recently bought and sold shares of the company. Point72 DIFC Ltd purchased a new position in shares of ScanSource during the third quarter worth approximately $35,000. Quest Partners LLC grew its holdings in shares of ScanSource by 42.6% during the 3rd quarter. Quest Partners LLC now owns 1,323 shares of the industrial products company’s stock valued at $64,000 after purchasing an additional 395 shares during the last quarter. Picton Mahoney Asset Management raised its position in ScanSource by 50.9% in the 4th quarter. Picton Mahoney Asset Management now owns 2,246 shares of the industrial products company’s stock worth $106,000 after purchasing an additional 758 shares during the period. Systematic Financial Management LP bought a new stake in ScanSource in the third quarter worth $205,000. Finally, Versor Investments LP purchased a new stake in ScanSource during the fourth quarter valued at about $218,000. Institutional investors own 97.91% of the company’s stock.

ScanSource Stock Down 1.4 %

SCSC opened at $35.76 on Thursday. ScanSource, Inc. has a 12 month low of $34.49 and a 12 month high of $53.90. The company has a current ratio of 2.11, a quick ratio of 1.30 and a debt-to-equity ratio of 0.15. The business’s 50-day moving average price is $39.97 and its 200-day moving average price is $45.50. The company has a market cap of $839.07 million, a P/E ratio of 14.13, a P/E/G ratio of 1.14 and a beta of 1.41.

ScanSource (NASDAQ:SCSC) last announced its quarterly 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 return on equity of 8.55% and a net margin of 2.08%. During the same period in the previous year, the firm earned $0.85 earnings per share. On average, equities analysts expect that ScanSource, Inc. will post 3.33 EPS for the current year.

Insider Buying and Selling

In related news, CEO Michael L. Baur sold 15,000 shares of the firm’s stock in a transaction dated Thursday, February 6th. The stock was sold at an average price of $38.91, for a total value of $583,650.00. Following the sale, the chief executive officer now directly owns 162,760 shares of the company’s stock, valued at $6,332,991.60. This trade 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 is available through this link. Also, CFO Stephen Jones sold 2,000 shares of the company’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 value of $72,280.00. Following the transaction, the chief financial officer now directly owns 69,816 shares of the company’s stock, valued at $2,523,150.24. The trade was a 2.78 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 18,994 shares of company stock valued at $731,702 over the last three months. 4.20% of the stock is owned by company insiders.

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.