Universal Beteiligungs und Servicegesellschaft mbH Acquires 3,619 Shares of ScanSource, Inc. (NASDAQ:SCSC)

Universal Beteiligungs und Servicegesellschaft mbH boosted its holdings in shares of ScanSource, Inc. (NASDAQ:SCSC) by 4.6% during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 83,086 shares of the industrial products company’s stock after acquiring an additional 3,619 shares during the period. Universal Beteiligungs und Servicegesellschaft mbH owned approximately 0.35% of ScanSource worth $2,826,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in SCSC. Castlekeep Investment Advisors LLC bought a new position in ScanSource during the fourth quarter worth about $78,694,000. Pzena Investment Management LLC lifted its holdings in shares of ScanSource by 132.8% in the first quarter. Pzena Investment Management LLC now owns 942,068 shares of the industrial products company’s stock valued at $32,040,000 after purchasing an additional 537,358 shares in the last quarter. Raymond James Financial Inc. bought a new stake in shares of ScanSource in the fourth quarter valued at about $5,687,000. Norges Bank bought a new stake in shares of ScanSource in the fourth quarter valued at about $4,137,000. Finally, First Trust Advisors LP bought a new stake in shares of ScanSource in the fourth quarter valued at about $3,454,000. 97.91% of the stock is currently owned by institutional investors.

ScanSource Stock Performance

Shares of ScanSource stock opened at $40.88 on Wednesday. The firm has a market cap of $923.72 million, a price-to-earnings ratio of 14.76, a price-to-earnings-growth ratio of 1.12 and a beta of 1.38. The stock’s 50-day moving average is $41.20 and its 200-day moving average is $38.95. ScanSource, Inc. has a one year low of $28.75 and a one year high of $53.90. The company has a debt-to-equity ratio of 0.14, a current ratio of 2.07 and a quick ratio of 1.32.

ScanSource (NASDAQ:SCSC) last released its earnings results on Thursday, May 8th. The industrial products company reported $0.86 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.77 by $0.09. The business had revenue of $704.23 million for the quarter, compared to the consensus estimate of $809.17 million. ScanSource had a return on equity of 8.96% and a net margin of 2.27%. ScanSource’s quarterly revenue was down 6.3% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.69 earnings per share. Equities analysts predict that ScanSource, Inc. will post 3.33 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

A number of analysts have recently commented on the company. Northcoast Research upgraded ScanSource from a “neutral” rating to a “buy” rating and set a $42.00 price target on the stock in a report on Tuesday, May 6th. Wall Street Zen upgraded ScanSource from a “hold” rating to a “buy” rating in a report on Saturday, July 12th.

Insider Activity

In related news, EVP Rachel Hayden sold 6,738 shares of ScanSource stock in a transaction dated Friday, June 20th. The stock was sold at an average price of $41.27, for a total value of $278,077.26. Following the sale, the executive vice president owned 13,174 shares of the company’s stock, valued at approximately $543,690.98. The trade was a 33.84% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate 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.