Maryland State Retirement & Pension System Sells 297 Shares of ScanSource, Inc. (NASDAQ:SCSC)

Maryland State Retirement & Pension System decreased its holdings in ScanSource, Inc. (NASDAQ:SCSC) by 3.9% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 7,379 shares of the industrial products company’s stock after selling 297 shares during the period. Maryland State Retirement & Pension System’s holdings in ScanSource were worth $350,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. Wasatch Advisors LP raised its position in 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 purchasing an additional 127,883 shares during the period. JPMorgan Chase & Co. lifted its position in ScanSource by 31.8% in the third quarter. JPMorgan Chase & Co. now owns 377,080 shares of the industrial products company’s stock worth $18,111,000 after buying an additional 91,069 shares during the last quarter. Jacobs Levy Equity Management Inc. boosted its stake in 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 worth $10,611,000 after buying an additional 24,264 shares during the period. Hotchkis & Wiley Capital Management LLC boosted its stake in 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 worth $9,357,000 after buying an additional 2,300 shares during the period. Finally, Empowered Funds LLC raised its stake in shares of ScanSource by 5.1% in the fourth quarter. Empowered Funds LLC now owns 136,305 shares of the industrial products company’s stock valued at $6,468,000 after acquiring an additional 6,592 shares during the period. Hedge funds and other institutional investors own 97.91% of the company’s stock.

Insiders Place Their Bets

In other ScanSource news, CEO Michael L. Baur sold 1,994 shares of the company’s stock in a transaction dated Monday, February 10th. The shares were sold at an average price of $38.00, for a total value of $75,772.00. Following the transaction, 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 sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CFO Stephen Jones sold 2,000 shares of the firm’s stock in a transaction that occurred on Friday, March 21st. The stock was sold at an average price of $36.14, for a total transaction of $72,280.00. Following the transaction, the chief financial officer now directly owns 69,816 shares in the company, valued at approximately $2,523,150.24. This trade represents a 2.78 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 18,994 shares of company stock worth $731,702 over the last quarter. Company insiders own 4.20% of the company’s stock.

ScanSource Price Performance

SCSC stock opened at $36.28 on Wednesday. The stock has a market cap of $851.27 million, a PE ratio of 14.34, a P/E/G ratio of 1.14 and a beta of 1.41. ScanSource, Inc. has a 12 month low of $34.49 and a 12 month high of $53.90. The company has a 50-day moving average price of $40.25 and a 200 day moving average price of $45.57. The company has a current ratio of 2.11, a quick ratio of 1.30 and a debt-to-equity ratio of 0.15.

ScanSource (NASDAQ:SCSC) last announced its earnings results on Thursday, January 30th. The industrial products company reported $0.85 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.89 by ($0.04). ScanSource had a net margin of 2.08% and a return on equity of 8.55%. During the same period in the previous year, the business posted $0.85 EPS. Equities research analysts anticipate that ScanSource, Inc. will post 3.33 earnings per share for the current year.

ScanSource Company Profile

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.