OP Asset Management Ltd Invests $1.87 Million in ScanSource, Inc. $SCSC

OP Asset Management Ltd purchased a new stake in ScanSource, Inc. (NASDAQ:SCSC) during the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor purchased 51,586 shares of the industrial products company’s stock, valued at approximately $1,873,000.

Other hedge funds have also bought and sold shares of the company. SG Americas Securities LLC raised its stake in ScanSource by 74.4% in the 1st quarter. SG Americas Securities LLC now owns 494,988 shares of the industrial products company’s stock worth $17,968,000 after purchasing an additional 211,232 shares in the last quarter. Invesco Ltd. grew its position in shares of ScanSource by 56.5% during the 4th quarter. Invesco Ltd. now owns 439,442 shares of the industrial products company’s stock worth $17,165,000 after purchasing an additional 158,722 shares in the last quarter. Summit Global Investments increased its holdings in shares of ScanSource by 3.3% during the fourth quarter. Summit Global Investments now owns 14,177 shares of the industrial products company’s stock worth $554,000 after purchasing an additional 451 shares during the period. State of Tennessee Department of Treasury increased its holdings in shares of ScanSource by 83.0% during the fourth quarter. State of Tennessee Department of Treasury now owns 30,973 shares of the industrial products company’s stock worth $1,332,000 after purchasing an additional 14,049 shares during the period. Finally, Empowered Funds LLC raised its position in shares of ScanSource by 4.0% in the fourth quarter. Empowered Funds LLC now owns 116,706 shares of the industrial products company’s stock valued at $4,559,000 after buying an additional 4,503 shares in the last quarter. 97.91% of the stock is owned by institutional investors.

Analyst Ratings Changes

SCSC has been the topic of a number of analyst reports. Wall Street Zen raised ScanSource from a “hold” rating to a “buy” rating in a research report on Saturday, June 6th. Weiss Ratings raised ScanSource from a “hold (c)” rating to a “hold (c+)” rating in a report on Friday, May 29th. Finally, Zacks Research upgraded ScanSource from a “strong sell” rating to a “hold” rating in a research report on Tuesday, April 7th. Three equities research analysts have rated the stock with a Hold rating, According to MarketBeat, ScanSource currently has a consensus rating of “Hold” and a consensus target price of $43.00.

ScanSource Stock Performance

Shares of ScanSource stock opened at $50.87 on Monday. 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 has a market cap of $1.03 billion, a PE ratio of 15.42, a price-to-earnings-growth ratio of 0.87 and a beta of 1.30. The company has a 50 day moving average of $44.96 and a 200-day moving average of $40.85. ScanSource, Inc. has a 1-year low of $33.76 and a 1-year high of $51.25.

ScanSource (NASDAQ:SCSC) last announced its quarterly earnings data on Thursday, May 7th. The industrial products company reported $0.94 earnings per share (EPS) for the quarter, beating 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 for the quarter, compared to analysts’ expectations of $738.55 million. During the same period last year, the firm posted $0.86 earnings per share. The firm’s quarterly revenue was up 8.8% compared to the same quarter last year. As a group, equities research analysts forecast 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.