UBS Group AG Acquires 12,258 Shares of ScanSource, Inc. $SCSC

UBS Group AG grew its holdings in shares of ScanSource, Inc. (NASDAQ:SCSC) by 16.1% in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 88,590 shares of the industrial products company’s stock after purchasing an additional 12,258 shares during the quarter. UBS Group AG’s holdings in ScanSource were worth $3,460,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in SCSC. Amundi boosted its position in ScanSource by 35.1% during the first quarter. Amundi now owns 26,464 shares of the industrial products company’s stock worth $836,000 after purchasing an additional 6,880 shares during the period. AQR Capital Management LLC boosted its position in ScanSource by 3.8% during the first quarter. AQR Capital Management LLC now owns 128,574 shares of the industrial products company’s stock worth $4,373,000 after purchasing an additional 4,693 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its position in ScanSource by 2.2% during 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 purchasing an additional 295 shares during the period. Millennium Management LLC boosted its position in ScanSource by 8.4% during the first quarter. Millennium Management LLC now owns 259,808 shares of the industrial products company’s stock worth $8,836,000 after purchasing an additional 20,086 shares during the period. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its position in ScanSource by 35.3% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 61,513 shares of the industrial products company’s stock worth $2,092,000 after purchasing an additional 16,044 shares during the period. Institutional investors own 97.91% of the company’s stock.

Insider Activity

In other news, CEO Michael L. Baur sold 3,827 shares of the stock in a transaction dated Monday, March 16th. The shares were sold at an average price of $35.89, for a total value of $137,351.03. Following the sale, the chief executive officer directly owned 157,512 shares of the company’s stock, valued at approximately $5,653,105.68. This represents a 2.37% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Insiders own 3.18% of the company’s stock.

Wall Street Analysts Forecast Growth

Separately, Zacks Research upgraded 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, According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target of $43.00.

ScanSource Stock Performance

Shares of ScanSource stock opened at $44.09 on Monday. ScanSource, Inc. has a 12-month low of $33.76 and a 12-month high of $46.63. The company has a market cap of $896.13 million, a price-to-earnings ratio of 13.36, a PEG ratio of 0.75 and a beta of 1.28. 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 company’s 50-day moving average price is $39.17 and its 200-day moving average price is $39.52.

ScanSource (NASDAQ:SCSC) last announced its quarterly earnings results on Thursday, May 7th. The industrial products company reported $0.94 earnings per share (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 firm had revenue of $758.59 million for the quarter, compared to the consensus estimate of $738.55 million. During the same period in the prior year, the firm posted $0.86 earnings per share. The company’s revenue for the quarter was up 8.8% on a year-over-year basis. On average, equities analysts expect that ScanSource, Inc. will post 3.9 earnings per share for the current fiscal year.

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.