Vestcor Inc Has $664,000 Stock Position in ScanSource, Inc. (NASDAQ:SCSC)

Vestcor Inc raised its stake in ScanSource, Inc. (NASDAQ:SCSC) by 656.0% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 13,994 shares of the industrial products company’s stock after buying an additional 12,143 shares during the period. Vestcor Inc owned 0.06% of ScanSource worth $664,000 at the end of the most recent quarter.

A number of other hedge funds have also recently added to or reduced their stakes in the stock. Pacer Advisors Inc. raised its stake in shares of ScanSource by 18.3% during the third quarter. Pacer Advisors Inc. now owns 2,744,702 shares of the industrial products company’s stock valued at $131,828,000 after acquiring an additional 425,233 shares during the last quarter. Wasatch Advisors LP raised its stake in shares of ScanSource by 13.2% during the third quarter. Wasatch Advisors LP now owns 1,097,992 shares of the industrial products company’s stock valued at $52,737,000 after acquiring an additional 127,883 shares during the last quarter. JPMorgan Chase & Co. raised its stake in shares of ScanSource by 31.8% during the third quarter. JPMorgan Chase & Co. now owns 377,080 shares of the industrial products company’s stock valued at $18,111,000 after acquiring an additional 91,069 shares during the last quarter. Jacobs Levy Equity Management Inc. raised its stake in shares of ScanSource by 12.3% during the third quarter. Jacobs Levy Equity Management Inc. now owns 220,923 shares of the industrial products company’s stock valued at $10,611,000 after acquiring an additional 24,264 shares during the last quarter. Finally, Hotchkis & Wiley Capital Management LLC raised its stake in shares of ScanSource by 1.2% during the third quarter. Hotchkis & Wiley Capital Management LLC now owns 194,809 shares of the industrial products company’s stock valued at $9,357,000 after acquiring an additional 2,300 shares during the last quarter. Institutional investors and hedge funds own 97.91% of the company’s stock.

Insider Buying and Selling

In other ScanSource news, CAO Brandy Ford sold 1,845 shares of ScanSource stock in a transaction on Thursday, December 19th. The shares were sold at an average price of $49.38, for a total value of $91,106.10. Following the completion of the sale, the chief accounting officer now directly owns 9,506 shares of the company’s stock, valued at approximately $469,406.28. The trade was a 16.25 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CEO Michael L. Baur sold 1,994 shares of ScanSource stock in a transaction 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 directly owns 142,760 shares of the company’s stock, valued at approximately $5,424,880. This trade represents a 1.38 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 18,839 shares of company stock valued at $750,528 over the last quarter. Insiders own 4.20% of the company’s stock.

ScanSource Price Performance

SCSC stock opened at $36.09 on Monday. ScanSource, Inc. has a 52-week low of $35.05 and a 52-week high of $53.90. The company has a fifty day moving average price of $41.86 and a 200-day moving average price of $46.20. The company has a market capitalization of $846.82 million, a P/E ratio of 14.26, a PEG ratio of 1.14 and a beta of 1.41. The company has a debt-to-equity ratio of 0.15, a quick ratio of 1.30 and a current ratio of 2.11.

ScanSource (NASDAQ:SCSC) last announced its earnings results on Thursday, January 30th. The industrial products company reported $0.85 earnings per share 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 quarter in the prior year, the company posted $0.85 EPS. As a group, equities 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.