New York State Teachers Retirement System Sells 2,780 Shares of ScanSource, Inc. (NASDAQ:SCSC)

New York State Teachers Retirement System reduced its stake in shares of ScanSource, Inc. (NASDAQ:SCSC) by 6.0% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 43,344 shares of the industrial products company’s stock after selling 2,780 shares during the quarter. New York State Teachers Retirement System owned about 0.18% of ScanSource worth $2,057,000 as of its most recent SEC filing.

Other large investors also recently added to or reduced their stakes in the company. Gladius Capital Management LP purchased a new position in shares of ScanSource during the third quarter valued at approximately $30,000. Point72 DIFC Ltd purchased a new position in shares of ScanSource during the third quarter valued at approximately $35,000. KBC Group NV boosted its position in shares of 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 buying an additional 443 shares during the period. Quest Partners LLC boosted its position in shares of ScanSource by 42.6% during the third 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 period. Finally, Systematic Financial Management LP purchased a new position in shares of ScanSource during the third quarter valued at approximately $205,000. 97.91% of the stock is owned by institutional investors.

ScanSource Stock Down 1.6 %

Shares of NASDAQ:SCSC opened at $37.20 on Friday. ScanSource, Inc. has a 1 year low of $36.63 and a 1 year high of $53.90. The business has a 50 day simple moving average of $45.57 and a two-hundred day simple moving average of $47.50. The firm has a market capitalization of $872.86 million, a PE ratio of 14.70, a price-to-earnings-growth ratio of 1.14 and a beta of 1.43. The company has a debt-to-equity ratio of 0.15, a current ratio of 2.11 and a quick ratio of 1.30.

ScanSource (NASDAQ:SCSC) last announced its quarterly earnings results on Thursday, January 30th. The industrial products company reported $0.85 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates 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 in the previous year, the business posted $0.85 earnings per share. On average, equities analysts predict that ScanSource, Inc. will post 3.33 EPS for the current year.

Insider Activity at ScanSource

In other ScanSource news, CEO Michael L. Baur sold 1,994 shares of the company’s stock in a transaction on Monday, February 10th. The stock was sold at an average price of $38.00, for a total transaction of $75,772.00. Following the completion of the sale, the chief executive officer now owns 142,760 shares in the company, valued at $5,424,880. This represents a 1.38 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CAO Brandy Ford sold 1,845 shares of the company’s stock in a transaction on Thursday, December 19th. The stock was sold at an average price of $49.38, for a total value of $91,106.10. Following the sale, the chief accounting officer now owns 9,506 shares of the company’s stock, valued at approximately $469,406.28. This represents a 16.25 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 18,839 shares of company stock worth $750,528. Company insiders own 4.20% of the company’s stock.

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.