Principal Financial Group Inc. Has $6.35 Million Position in ScanSource, Inc. (NASDAQ:SCSC)

Principal Financial Group Inc. boosted its holdings in ScanSource, Inc. (NASDAQ:SCSC) by 5.8% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 144,168 shares of the industrial products company’s stock after buying an additional 7,864 shares during the period. Principal Financial Group Inc.’s holdings in ScanSource were worth $6,349,000 as of its most recent SEC filing.

Several other large investors have also bought and sold shares of the business. Quadrature Capital Ltd increased its stake in ScanSource by 209.2% in the third quarter. Quadrature Capital Ltd now owns 35,065 shares of the industrial products company’s stock valued at $1,063,000 after purchasing an additional 23,725 shares in the last quarter. AQR Capital Management LLC increased its stake in ScanSource by 3.4% in the third quarter. AQR Capital Management LLC now owns 210,382 shares of the industrial products company’s stock valued at $6,377,000 after purchasing an additional 7,000 shares in the last quarter. Jacobs Levy Equity Management Inc. increased its stake in ScanSource by 10.4% in the third quarter. Jacobs Levy Equity Management Inc. now owns 173,409 shares of the industrial products company’s stock valued at $5,256,000 after purchasing an additional 16,323 shares in the last quarter. Gladius Capital Management LP bought a new stake in ScanSource in the third quarter valued at approximately $36,000. Finally, First Hawaiian Bank increased its stake in ScanSource by 13.7% in the fourth quarter. First Hawaiian Bank now owns 21,321 shares of the industrial products company’s stock valued at $845,000 after purchasing an additional 2,574 shares in the last quarter. 97.91% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at ScanSource

In other news, Director Charles Alexander Mathis sold 1,000 shares of the stock in a transaction on Monday, May 13th. The shares were sold at an average price of $47.15, for a total transaction of $47,150.00. Following the completion of the sale, the director now owns 11,959 shares of the company’s stock, valued at $563,866.85. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other news, Director Charles Alexander Mathis sold 1,000 shares of the stock in a transaction on Monday, May 13th. The shares were sold at an average price of $47.15, for a total transaction of $47,150.00. Following the completion of the sale, the director now owns 11,959 shares of the company’s stock, valued at $563,866.85. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CAO Brandy Ford sold 1,253 shares of the firm’s stock in a transaction on Friday, May 10th. The shares were sold at an average price of $47.26, for a total transaction of $59,216.78. Following the completion of the transaction, the chief accounting officer now directly owns 9,219 shares of the company’s stock, valued at approximately $435,689.94. The disclosure for this sale can be found here. Insiders sold 63,376 shares of company stock valued at $2,879,830 over the last quarter. Corporate insiders own 4.56% of the company’s stock.

ScanSource Trading Down 3.0 %

NASDAQ:SCSC traded down $1.31 during trading hours on Friday, hitting $42.44. The stock had a trading volume of 53,924 shares, compared to its average volume of 216,324. ScanSource, Inc. has a one year low of $26.99 and a one year high of $50.95. The company has a debt-to-equity ratio of 0.15, a quick ratio of 1.38 and a current ratio of 2.20. The company has a market cap of $1.05 billion, a price-to-earnings ratio of 13.89, a P/E/G ratio of 1.29 and a beta of 1.44. The business’s 50 day moving average is $45.87 and its 200-day moving average is $42.57.

ScanSource (NASDAQ:SCSC) last issued its quarterly earnings data on Tuesday, May 7th. The industrial products company reported $0.69 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.84 by ($0.15). ScanSource had a return on equity of 8.28% and a net margin of 2.31%. The company had revenue of $752.60 million for the quarter, compared to the consensus estimate of $822.10 million. During the same period in the prior year, the company earned $0.96 EPS. The firm’s revenue was down 15.0% on a year-over-year basis. Sell-side analysts anticipate that ScanSource, Inc. will post 3.31 EPS for the current fiscal year.

ScanSource Profile

ScanSource, Inc distributes technology products and solutions in the United States, Canada, and internationally. 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.