Pzena Investment Management LLC Cuts Holdings in ScanSource, Inc. $SCSC

Pzena Investment Management LLC cut its position in shares of ScanSource, Inc. (NASDAQ:SCSC) by 4.0% during the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 907,456 shares of the industrial products company’s stock after selling 38,143 shares during the quarter. Pzena Investment Management LLC owned approximately 4.14% of ScanSource worth $35,445,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its position in ScanSource by 2.2% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 13,859 shares of the industrial products company’s stock worth $471,000 after acquiring an additional 295 shares during the period. Bailard Inc. raised its position in ScanSource by 6.8% in the third quarter. Bailard Inc. now owns 6,300 shares of the industrial products company’s stock worth $277,000 after acquiring an additional 400 shares during the period. Strs Ohio raised its position in ScanSource by 2.6% in the third quarter. Strs Ohio now owns 15,600 shares of the industrial products company’s stock worth $686,000 after acquiring an additional 400 shares during the period. Franklin Resources Inc. raised its position in ScanSource by 1.6% in the third quarter. Franklin Resources Inc. now owns 36,424 shares of the industrial products company’s stock worth $1,602,000 after acquiring an additional 567 shares during the period. Finally, Lazard Asset Management LLC raised its position in ScanSource by 1.3% in the second quarter. Lazard Asset Management LLC now owns 43,016 shares of the industrial products company’s stock worth $1,797,000 after acquiring an additional 567 shares during the period. 97.91% of the stock is currently owned by hedge funds and other institutional investors.

ScanSource Stock Performance

ScanSource stock opened at $42.69 on Friday. The firm’s 50 day simple moving average is $39.01 and its 200 day simple moving average is $39.51. The company has a current ratio of 1.86, a quick ratio of 1.20 and a debt-to-equity ratio of 0.11. The firm has a market capitalization of $867.67 million, a PE ratio of 12.94, a price-to-earnings-growth ratio of 0.74 and a beta of 1.28. ScanSource, Inc. has a 1-year low of $33.76 and a 1-year high of $46.63.

ScanSource (NASDAQ:SCSC) last released its quarterly earnings results on Thursday, May 7th. The industrial products company reported $0.94 EPS for the quarter, topping analysts’ consensus estimates of $0.91 by $0.03. ScanSource had a net margin of 2.38% and a return on equity of 9.35%. The business had revenue of $758.59 million during the quarter, compared to analysts’ expectations of $738.55 million. During the same quarter in the previous year, the company earned $0.86 EPS. The business’s quarterly revenue was up 8.8% compared to the same quarter last year. As a group, analysts expect that ScanSource, Inc. will post 3.9 earnings per share for the current fiscal year.

Insider Activity

In other news, CEO Michael L. Baur sold 3,827 shares of the company’s stock in a transaction on Monday, March 16th. The shares were sold at an average price of $35.89, for a total value of $137,351.03. Following the completion of the sale, the chief executive officer owned 157,512 shares of the company’s stock, valued at approximately $5,653,105.68. This represents a 2.37% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 3.18% of the company’s stock.

Analyst Upgrades and Downgrades

Separately, Zacks Research raised shares of ScanSource from a “strong sell” rating to a “hold” rating in a research report on Tuesday, April 7th. Three analysts have rated the stock with a Hold rating, Based on data from MarketBeat, the company has an average rating of “Hold” and an average price target of $43.00.

ScanSource Profile

ScanSource, Inc is a global provider of technology products and solutions designed to help businesses enhance operational efficiency and customer engagement. The company specializes in the distribution of point-of-sale (POS) systems, barcode and data capture devices, networking and communications equipment, and value-added software and cloud services. By combining hardware, software and professional services, ScanSource supports channel partners in delivering end-to-end solutions across multiple industries, including retail, hospitality, healthcare and logistics.

Founded in 1992 and headquartered in Greenville, South Carolina, ScanSource has built a broad international footprint, serving customers throughout North, Central and South America as well as Europe, the Middle East and Africa.