119,847 Shares in ScanSource, Inc. (NASDAQ:SCSC) Acquired by Raymond James Financial Inc.

Raymond James Financial Inc. bought a new stake in shares of ScanSource, Inc. (NASDAQ:SCSC) during the fourth quarter, according to the company in its most recent filing with the SEC. The institutional investor bought 119,847 shares of the industrial products company’s stock, valued at approximately $5,687,000. Raymond James Financial Inc. owned about 0.51% of ScanSource as of its most recent filing with the SEC.

Several other hedge funds also recently bought and sold shares of SCSC. Point72 DIFC Ltd purchased a new stake in shares of ScanSource during the third quarter worth about $35,000. Quest Partners LLC boosted its position in ScanSource by 42.6% during the third quarter. Quest Partners LLC now owns 1,323 shares of the industrial products company’s stock worth $64,000 after acquiring an additional 395 shares during the last quarter. Systematic Financial Management LP purchased a new stake in ScanSource in the 3rd quarter worth approximately $205,000. Versor Investments LP acquired a new position in ScanSource in the 4th quarter valued at $218,000. Finally, Bailard Inc. purchased a new position in shares of ScanSource during the 4th quarter worth $251,000. Hedge funds and other institutional investors own 97.91% of the company’s stock.

Insider Buying and Selling

In other 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 directly owns 142,760 shares in the company, valued at $5,424,880. This represents a 1.38 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this link. Corporate insiders own 4.20% of the company’s stock.

ScanSource Price Performance

SCSC stock opened at $36.92 on Tuesday. The stock has a market capitalization of $866.29 million, a price-to-earnings ratio of 14.59, a price-to-earnings-growth ratio of 1.14 and a beta of 1.41. The stock’s fifty day simple moving average is $40.51 and its 200-day simple moving average is $45.64. ScanSource, Inc. has a 52-week low of $34.49 and a 52-week high of $53.90. 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 (NASDAQ:SCSC) last issued 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 return on equity of 8.55% and a net margin of 2.08%. During the same period last year, the business earned $0.85 earnings per share. Equities research analysts expect that ScanSource, Inc. will post 3.33 EPS for the current year.

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.