American Century Companies Inc. Acquires 87,721 Shares of ScanSource, Inc. (NASDAQ:SCSC)

American Century Companies Inc. lifted its holdings in shares of ScanSource, Inc. (NASDAQ:SCSC) by 13.1% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 759,318 shares of the industrial products company’s stock after purchasing an additional 87,721 shares during the period. American Century Companies Inc. owned about 3.24% of ScanSource worth $36,030,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently made changes to their positions in SCSC. JPMorgan Chase & Co. increased 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. Franklin Resources Inc. increased its holdings in ScanSource by 9.9% in the 3rd quarter. Franklin Resources Inc. now owns 22,577 shares of the industrial products company’s stock worth $1,093,000 after acquiring an additional 2,026 shares during the last quarter. Barclays PLC raised its stake in ScanSource by 97.9% in the 3rd quarter. Barclays PLC now owns 54,346 shares of the industrial products company’s stock valued at $2,610,000 after acquiring an additional 26,881 shares during the period. Allspring Global Investments Holdings LLC purchased a new stake in ScanSource during the fourth quarter valued at about $807,000. Finally, The Manufacturers Life Insurance Company boosted its position in ScanSource by 26.0% during the third quarter. The Manufacturers Life Insurance Company now owns 11,899 shares of the industrial products company’s stock worth $572,000 after purchasing an additional 2,459 shares during the period. 97.91% of the stock is owned by hedge funds and other institutional investors.

ScanSource Stock Performance

NASDAQ SCSC opened at $34.47 on Friday. The firm has a market cap of $808.80 million, a P/E ratio of 13.62, a price-to-earnings-growth ratio of 1.14 and a beta of 1.41. The company has a quick ratio of 1.30, a current ratio of 2.11 and a debt-to-equity ratio of 0.15. The company’s 50 day moving average is $39.36 and its 200-day moving average is $45.36. ScanSource, Inc. has a 12-month low of $34.32 and a 12-month high of $53.90.

ScanSource (NASDAQ:SCSC) last issued its earnings results on Thursday, January 30th. The industrial products company reported $0.85 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates 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 quarter in the prior year, the firm posted $0.85 EPS. Sell-side analysts predict that ScanSource, Inc. will post 3.33 earnings per share for the current year.

Insider Buying and Selling

In related news, CFO Stephen Jones sold 2,000 shares of the company’s stock in a transaction that occurred on Friday, March 21st. The shares were sold at an average price of $36.14, for a total transaction of $72,280.00. Following the sale, the chief financial officer now owns 69,816 shares of the company’s stock, valued at approximately $2,523,150.24. This represents a 2.78 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CEO Michael L. Baur sold 1,994 shares of the stock in a transaction that occurred on Monday, February 10th. The stock was 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 owns 142,760 shares in the company, valued at $5,424,880. This represents a 1.38 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 18,994 shares of company stock valued at $731,702. Corporate insiders own 4.20% of the company’s stock.

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.