American Century Companies Inc. Boosts Stake in ScanSource, Inc. $SCSC

Key Points

• American Century Companies Inc. increased its stake in ScanSource, Inc. by 7.8%, acquiring an additional 59,145 shares, bringing its total ownership to approximately 3.49%, valued at $27.8 million.
• Several analysts have raised their ratings on ScanSource, with a consensus rating of "Buy" and an average target price of $42.00 for the stock.
• In the latest quarterly earnings report, ScanSource beat expectations with earnings per share of $1.02 and revenue of $812.89 million, showing an 8.9% increase compared to the previous year.

American Century Companies Inc. raised its holdings in ScanSource, Inc. (NASDAQ:SCSC - Free Report) by 7.8% during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 818,463 shares of the industrial products company's stock after buying an additional 59,145 shares during the period. American Century Companies Inc. owned about 3.49% of ScanSource worth $27,836,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Quarry LP increased its position in shares of ScanSource by 948.7% during the fourth quarter. Quarry LP now owns 797 shares of the industrial products company's stock worth $38,000 after purchasing an additional 721 shares in the last quarter. Versant Capital Management Inc increased its position in shares of ScanSource by 88.4% during the first quarter. Versant Capital Management Inc now owns 863 shares of the industrial products company's stock worth $29,000 after purchasing an additional 405 shares in the last quarter. Point72 Asset Management L.P. acquired a new stake in shares of ScanSource during the fourth quarter worth about $81,000. GAMMA Investing LLC increased its position in shares of ScanSource by 25.5% during the first quarter. GAMMA Investing LLC now owns 1,944 shares of the industrial products company's stock worth $66,000 after purchasing an additional 395 shares in the last quarter. Finally, Tower Research Capital LLC TRC increased its position in shares of ScanSource by 42.1% during the fourth quarter. Tower Research Capital LLC TRC now owns 2,862 shares of the industrial products company's stock worth $136,000 after purchasing an additional 848 shares in the last quarter. 97.91% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several brokerages recently issued reports on SCSC. Zacks Research upgraded ScanSource from a "hold" rating to a "strong-buy" rating in a research report on Monday. Northcoast Research upgraded ScanSource from a "neutral" rating to a "buy" rating and set a $42.00 price target on the stock in a research report on Tuesday, May 6th. Finally, Wall Street Zen upgraded ScanSource from a "hold" rating to a "buy" rating in a research report on Saturday, July 12th. One equities research analyst has rated the stock with a Strong Buy rating and one has given a Buy rating to the company's stock. According to MarketBeat.com, ScanSource currently has an average rating of "Strong Buy" and an average target price of $42.00.

ScanSource Price Performance

Shares of NASDAQ:SCSC traded down $0.41 during trading on Thursday, hitting $44.29. 33,770 shares of the stock were exchanged, compared to its average volume of 246,950. The company has a fifty day moving average price of $41.63 and a two-hundred day moving average price of $38.29. The company has a market cap of $969.40 million, a PE ratio of 14.71, a P/E/G ratio of 0.73 and a beta of 1.41. The company has a current ratio of 2.01, a quick ratio of 1.30 and a debt-to-equity ratio of 0.14. ScanSource, Inc. has a 12-month low of $28.75 and a 12-month high of $53.90.

ScanSource (NASDAQ:SCSC - Get Free Report) last announced its quarterly earnings results on Thursday, August 21st. The industrial products company reported $1.02 EPS for the quarter, topping the consensus estimate of $0.91 by $0.11. The business had revenue of $812.89 million for the quarter, compared to analyst estimates of $776.21 million. ScanSource had a return on equity of 9.38% and a net margin of 2.35%.The company's quarterly revenue was up 8.9% on a year-over-year basis. During the same quarter in the previous year, the company earned $0.80 EPS. ScanSource has set its FY 2026 guidance at EPS. On average, analysts forecast that ScanSource, Inc. will post 3.33 EPS for the current year.

Insider Transactions at ScanSource

In related news, EVP Rachel Hayden sold 1,012 shares of the company's stock in a transaction that occurred on Wednesday, August 27th. The stock was sold at an average price of $43.27, for a total value of $43,789.24. Following the sale, the executive vice president owned 13,149 shares of the company's stock, valued at approximately $568,957.23. This represents a 7.15% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 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.