ScanSource, Inc. $SCSC Stock Holdings Lifted by American Century Companies Inc.

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. boosted its stake in ScanSource, Inc. (NASDAQ:SCSC - Free Report) by 7.8% during the 1st quarter, according to 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 acquiring an additional 59,145 shares during the period. American Century Companies Inc. owned 3.49% of ScanSource worth $27,836,000 at the end of the most recent reporting period.

Several other hedge funds also recently added to or reduced their stakes in the stock. Versant Capital Management Inc lifted 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 during the last quarter. Quarry LP grew its stake in ScanSource by 948.7% in 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. GAMMA Investing LLC grew its stake in ScanSource by 25.5% in 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. Point72 Asset Management L.P. acquired a new position in ScanSource in the fourth quarter worth about $81,000. Finally, Tower Research Capital LLC TRC grew its stake in ScanSource by 42.1% in 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 owned by institutional investors and hedge funds.

Insider Buying and Selling

In related news, EVP Rachel Hayden sold 6,738 shares of the business's stock in a transaction that occurred on Friday, June 20th. The stock was sold at an average price of $41.27, for a total transaction of $278,077.26. Following the sale, the executive vice president owned 13,174 shares of the company's stock, valued at $543,690.98. The trade was a 33.84% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 4.20% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

A number of equities analysts recently commented on SCSC shares. Northcoast Research upgraded ScanSource from a "neutral" rating to a "buy" rating and set a $42.00 price target for the company in a research note on Tuesday, May 6th. Wall Street Zen upgraded ScanSource from a "hold" rating to a "buy" rating in a research note on Saturday, July 12th. One research analyst has rated the stock with a Buy rating, Based on data from MarketBeat.com, the stock presently has an average rating of "Buy" and a consensus price target of $42.00.

ScanSource Stock Performance

Shares of NASDAQ SCSC traded down $0.30 during midday trading on Monday, hitting $44.33. 305,534 shares of the company's stock were exchanged, compared to its average volume of 301,261. ScanSource, Inc. has a twelve month low of $28.75 and a twelve month high of $53.90. The company has a debt-to-equity ratio of 0.14, a current ratio of 2.01 and a quick ratio of 1.30. The firm has a market cap of $970.38 million, a P/E ratio of 14.73, a PEG ratio of 1.12 and a beta of 1.41. The stock's 50 day moving average price is $41.49 and its 200-day moving average price is $38.21.

ScanSource (NASDAQ:SCSC - Get Free Report) last announced its quarterly earnings results on Thursday, August 21st. The industrial products company reported $1.02 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.91 by $0.11. The company had revenue of $812.89 million during 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 firm's quarterly revenue was up 8.9% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.80 EPS. ScanSource has set its FY 2026 guidance at EPS. Equities research analysts anticipate that ScanSource, Inc. will post 3.33 EPS for the current year.

ScanSource 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.