JPMorgan Chase & Co. Has $18.11 Million Position in ScanSource, Inc. (NASDAQ:SCSC)

JPMorgan Chase & Co. lifted its stake in ScanSource, Inc. (NASDAQ:SCSC) by 31.8% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 377,080 shares of the industrial products company’s stock after acquiring an additional 91,069 shares during the quarter. JPMorgan Chase & Co. owned approximately 1.58% of ScanSource worth $18,111,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also modified their holdings of SCSC. Gladius Capital Management LP acquired a new position in ScanSource in the 3rd quarter worth about $30,000. Point72 DIFC Ltd bought a new stake in shares of ScanSource in the 3rd quarter valued at approximately $35,000. Quest Partners LLC acquired a new position in ScanSource in the second quarter worth approximately $41,000. KBC Group NV raised its position in ScanSource by 59.9% during the third quarter. KBC Group NV now owns 1,182 shares of the industrial products company’s stock valued at $57,000 after acquiring an additional 443 shares in the last quarter. Finally, Systematic Financial Management LP acquired a new stake in ScanSource in the third quarter valued at approximately $205,000. 97.91% of the stock is currently owned by hedge funds and other institutional investors.

ScanSource Stock Performance

Shares of SCSC opened at $47.86 on Friday. The firm has a market cap of $1.14 billion, a price-to-earnings ratio of 15.34, a price-to-earnings-growth ratio of 1.50 and a beta of 1.45. The company’s fifty day moving average is $49.56 and its 200-day moving average is $47.96. The company has a quick ratio of 1.27, a current ratio of 2.03 and a debt-to-equity ratio of 0.15. ScanSource, Inc. has a 12 month low of $31.01 and a 12 month high of $53.90.

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

Insider Buying and Selling

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