17,012 Shares in ScanSource, Inc. (NASDAQ:SCSC) Purchased by Allspring Global Investments Holdings LLC

Allspring Global Investments Holdings LLC bought a new position in ScanSource, Inc. (NASDAQ:SCSC) in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor bought 17,012 shares of the industrial products company’s stock, valued at approximately $807,000. Allspring Global Investments Holdings LLC owned about 0.07% of ScanSource at the end of the most recent quarter.

Other institutional investors and hedge funds have also made changes to their positions in the company. Gladius Capital Management LP acquired a new stake in ScanSource during the third quarter valued at approximately $30,000. Point72 DIFC Ltd acquired a new position in shares of ScanSource during the 3rd quarter worth $35,000. KBC Group NV grew its stake in ScanSource by 59.9% in the 3rd 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 last quarter. Quest Partners LLC grew its stake in ScanSource by 42.6% in the 3rd 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 last quarter. Finally, Systematic Financial Management LP acquired a new stake in ScanSource in the 3rd quarter worth $205,000. 97.91% of the stock is currently owned by institutional investors.

ScanSource Stock Performance

NASDAQ SCSC opened at $37.20 on Monday. The company’s fifty day moving average is $45.57 and its two-hundred day moving average is $47.50. The firm has a market capitalization of $872.86 million, a price-to-earnings ratio of 14.70, a P/E/G ratio of 1.14 and a beta of 1.43. ScanSource, Inc. has a 52-week low of $36.63 and a 52-week high of $53.90. 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 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 quarter in the prior year, the company earned $0.85 EPS. Equities research analysts forecast that ScanSource, Inc. will post 3.33 EPS for the current year.

Insiders Place Their Bets

In other news, CEO Michael L. Baur sold 1,994 shares of ScanSource stock in a transaction that occurred on Monday, February 10th. The shares were 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. The trade was a 1.38 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CAO Brandy Ford sold 1,845 shares of ScanSource stock in a transaction that occurred on Thursday, December 19th. The stock was sold at an average price of $49.38, for a total transaction 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 three months, insiders sold 18,839 shares of company stock valued at $750,528. Insiders own 4.20% of the company’s stock.

ScanSource Company 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.