Prudential Financial Inc. Buys 27,060 Shares of ScanSource, Inc. (NASDAQ:SCSC)

Prudential Financial Inc. lifted its stake in shares of ScanSource, Inc. (NASDAQ:SCSC) by 37.5% in the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 99,208 shares of the industrial products company’s stock after buying an additional 27,060 shares during the period. Prudential Financial Inc. owned about 0.42% of ScanSource worth $4,707,000 as of its most recent SEC filing.

Other hedge funds also recently modified their holdings of the company. American Century Companies Inc. raised its position in ScanSource by 13.1% in the fourth quarter. American Century Companies Inc. now owns 759,318 shares of the industrial products company’s stock valued at $36,030,000 after purchasing an additional 87,721 shares during the last quarter. JPMorgan Chase & Co. boosted its position in ScanSource by 31.8% during the 3rd quarter. JPMorgan Chase & Co. now owns 377,080 shares of the industrial products company’s stock worth $18,111,000 after buying an additional 91,069 shares during the period. Jacobs Levy Equity Management Inc. grew its holdings in ScanSource by 12.3% during the 3rd quarter. Jacobs Levy Equity Management Inc. now owns 220,923 shares of the industrial products company’s stock worth $10,611,000 after acquiring an additional 24,264 shares during the last quarter. Hotchkis & Wiley Capital Management LLC increased its position in ScanSource by 1.2% in the 3rd quarter. Hotchkis & Wiley Capital Management LLC now owns 194,809 shares of the industrial products company’s stock valued at $9,357,000 after acquiring an additional 2,300 shares during the period. Finally, Empowered Funds LLC raised its stake in shares of ScanSource by 5.1% during the fourth quarter. Empowered Funds LLC now owns 136,305 shares of the industrial products company’s stock valued at $6,468,000 after acquiring an additional 6,592 shares during the last quarter. Institutional investors and hedge funds own 97.91% of the company’s stock.

ScanSource Stock Performance

Shares of ScanSource stock opened at $34.01 on Tuesday. The stock has a market cap of $798.01 million, a price-to-earnings ratio of 13.44, a P/E/G ratio of 1.14 and a beta of 1.41. The company has a quick ratio of 1.30, a current ratio of 2.11 and a debt-to-equity ratio of 0.15. ScanSource, Inc. has a twelve month low of $33.68 and a twelve month high of $53.90. The company’s fifty day moving average is $39.03 and its 200 day moving average is $45.29.

ScanSource (NASDAQ:SCSC) last issued its quarterly earnings results on Thursday, January 30th. The industrial products company reported $0.85 earnings per share for the quarter, missing the consensus estimate of $0.89 by ($0.04). ScanSource had a net margin of 2.08% and a return on equity of 8.55%. During the same period last year, the firm posted $0.85 earnings per share. Sell-side analysts forecast that ScanSource, Inc. will post 3.33 EPS for the current year.

Insiders Place Their Bets

In other news, CFO Stephen Jones sold 2,000 shares of the stock in a transaction on Friday, March 21st. The shares were sold at an average price of $36.14, for a total transaction of $72,280.00. Following the completion of the sale, the chief financial officer now directly owns 69,816 shares in the company, valued at $2,523,150.24. This represents a 2.78 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, CEO Michael L. Baur sold 15,000 shares of ScanSource stock in a transaction on Thursday, February 6th. The stock was sold at an average price of $38.91, for a total transaction of $583,650.00. Following the transaction, the chief executive officer now directly owns 162,760 shares of the company’s stock, valued at $6,332,991.60. This represents a 8.44 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 18,994 shares of company stock worth $731,702. 4.20% of the stock is currently owned by insiders.

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.