JPMorgan Chase & Co. Acquires 91,069 Shares of ScanSource, Inc. (NASDAQ:SCSC)

JPMorgan Chase & Co. raised its holdings in ScanSource, Inc. (NASDAQ:SCSC) by 31.8% in the 3rd quarter, HoldingsChannel reports. The firm owned 377,080 shares of the industrial products company’s stock after purchasing an additional 91,069 shares during the quarter. JPMorgan Chase & Co.’s holdings in ScanSource were worth $18,111,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently bought and sold shares of the company. Exchange Traded Concepts LLC raised its holdings in shares of ScanSource by 1.1% in the third quarter. Exchange Traded Concepts LLC now owns 20,387 shares of the industrial products company’s stock valued at $979,000 after buying an additional 220 shares during the last quarter. Rhumbline Advisers grew its stake in shares of ScanSource by 0.3% during the second quarter. Rhumbline Advisers now owns 85,720 shares of the industrial products company’s stock valued at $3,798,000 after purchasing an additional 264 shares during the last quarter. The Manufacturers Life Insurance Company raised its position in ScanSource by 3.4% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 9,440 shares of the industrial products company’s stock worth $418,000 after purchasing an additional 308 shares during the last quarter. Martingale Asset Management L P lifted its holdings in ScanSource by 0.6% during the 3rd quarter. Martingale Asset Management L P now owns 58,169 shares of the industrial products company’s stock worth $2,794,000 after buying an additional 340 shares in the last quarter. Finally, Quest Partners LLC boosted its position in ScanSource by 42.6% in the 3rd quarter. Quest Partners LLC now owns 1,323 shares of the industrial products company’s stock valued at $64,000 after buying an additional 395 shares during the last quarter. Institutional investors and hedge funds own 97.91% of the company’s stock.

ScanSource Stock Down 0.3 %

NASDAQ SCSC opened at $47.86 on Friday. The company has a debt-to-equity ratio of 0.15, a quick ratio of 1.27 and a current ratio of 2.03. ScanSource, Inc. has a 52 week low of $31.01 and a 52 week high of $53.90. The stock has a market capitalization of $1.14 billion, a P/E ratio of 15.34, a price-to-earnings-growth ratio of 1.50 and a beta of 1.45. The stock has a fifty day moving average of $49.56 and a 200-day moving average of $47.96.

ScanSource (NASDAQ:SCSC) last announced its quarterly earnings data on Thursday, November 7th. The industrial products company reported $0.84 earnings per share for the quarter, topping the consensus estimate of $0.77 by $0.07. The firm had revenue of $775.58 million during the quarter, compared to analysts’ expectations of $774.90 million. ScanSource had a return on equity of 8.53% and a net margin of 2.49%. The company’s quarterly revenue was down 11.5% compared to the same quarter last year. During the same period in the previous year, the business posted $0.74 EPS. On average, equities research analysts forecast that ScanSource, Inc. will post 3.51 EPS for the current year.

Insider Activity at ScanSource

In other ScanSource news, CEO Michael L. Baur sold 15,081 shares of the stock in a transaction dated Monday, November 18th. The stock was sold at an average price of $49.57, for a total value of $747,565.17. Following the transaction, the chief executive officer now owns 177,760 shares of the company’s stock, valued at approximately $8,811,563.20. This represents a 7.82 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CAO Brandy Ford sold 1,845 shares of the firm’s stock in a transaction dated Thursday, December 19th. The stock was sold at an average price of $49.38, for a total value of $91,106.10. Following the transaction, the chief accounting officer now owns 9,506 shares in the company, valued at approximately $469,406.28. This trade represents a 16.25 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 54,855 shares of company stock worth $2,702,949 over the last ninety days. Company insiders own 4.20% of the company’s stock.

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.