Pzena Investment Management LLC Sells 38,143 Shares of ScanSource, Inc. $SCSC

Pzena Investment Management LLC trimmed its holdings in ScanSource, Inc. (NASDAQ:SCSC) by 4.0% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 907,456 shares of the industrial products company’s stock after selling 38,143 shares during the quarter. Pzena Investment Management LLC’s holdings in ScanSource were worth $35,445,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors also recently modified their holdings of SCSC. Abacus Wealth Partners LLC purchased a new stake in ScanSource during the 4th quarter valued at about $313,000. Dana Investment Advisors Inc. grew its position in ScanSource by 7.3% during the 4th quarter. Dana Investment Advisors Inc. now owns 224,048 shares of the industrial products company’s stock valued at $8,751,000 after purchasing an additional 15,196 shares during the last quarter. Denali Advisors LLC grew its position in ScanSource by 5.6% during the 4th quarter. Denali Advisors LLC now owns 110,337 shares of the industrial products company’s stock valued at $4,310,000 after purchasing an additional 5,896 shares during the last quarter. Strs Ohio grew its position in ScanSource by 4.5% during the 4th quarter. Strs Ohio now owns 16,300 shares of the industrial products company’s stock valued at $637,000 after purchasing an additional 700 shares during the last quarter. Finally, Horizon Investments LLC grew its position in ScanSource by 16.2% during the 4th quarter. Horizon Investments LLC now owns 15,039 shares of the industrial products company’s stock valued at $587,000 after purchasing an additional 2,098 shares during the last quarter. 97.91% of the stock is currently owned by institutional investors.

Insider Activity

In other news, CEO Michael L. Baur sold 3,827 shares of ScanSource stock in a transaction that occurred on Monday, March 16th. The shares were sold at an average price of $35.89, for a total transaction of $137,351.03. Following the sale, the chief executive officer owned 157,512 shares in the company, valued at $5,653,105.68. This trade represents a 2.37% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. 3.18% of the stock is currently owned by insiders.

ScanSource Stock Performance

SCSC opened at $42.69 on Friday. The company has a current ratio of 1.86, a quick ratio of 1.20 and a debt-to-equity ratio of 0.11. The company has a market cap of $867.67 million, a price-to-earnings ratio of 12.94, a PEG ratio of 0.74 and a beta of 1.28. The company’s 50 day moving average is $39.01 and its 200 day moving average is $39.51. ScanSource, Inc. has a 12-month low of $33.76 and a 12-month high of $46.63.

ScanSource (NASDAQ:SCSC) last released its earnings results on Thursday, May 7th. The industrial products company reported $0.94 EPS for the quarter, topping analysts’ consensus estimates of $0.91 by $0.03. ScanSource had a net margin of 2.38% and a return on equity of 9.35%. The company had revenue of $758.59 million for the quarter, compared to analysts’ expectations of $738.55 million. During the same quarter last year, the business earned $0.86 EPS. The firm’s revenue was up 8.8% compared to the same quarter last year. On average, equities research analysts predict that ScanSource, Inc. will post 3.9 EPS for the current year.

Wall Street Analyst Weigh In

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

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.