Cubist Systematic Strategies LLC Raises Position in ScanSource, Inc. $SCSC

Key Points

• Cubist Systematic Strategies LLC significantly increased its holdings in ScanSource, Inc. by 421.5% during the first quarter, now owning 74,009 shares valued at approximately $2.5 million.
• ScanSource reported $1.02 earnings per share (EPS) for its recent quarter, outperforming analyst expectations of $0.91, with revenues totaling $812.89 million.
• Wall Street analysts have upgraded ScanSource's stock, with ratings now reaching "Strong Buy", and the average target price is set at $42.00.

Cubist Systematic Strategies LLC increased its holdings in ScanSource, Inc. (NASDAQ:SCSC - Free Report) by 421.5% during the first quarter, according to its most recent disclosure with the SEC. The institutional investor owned 74,009 shares of the industrial products company's stock after buying an additional 59,817 shares during the period. Cubist Systematic Strategies LLC owned 0.32% of ScanSource worth $2,517,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Versant Capital Management Inc raised its position in shares of ScanSource by 88.4% in the first quarter. Versant Capital Management Inc now owns 863 shares of the industrial products company's stock worth $29,000 after buying an additional 405 shares in the last quarter. GAMMA Investing LLC raised its position in shares of 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 buying an additional 395 shares in the last quarter. Point72 Asset Management L.P. bought a new position in ScanSource in the fourth quarter valued at $81,000. Quarry LP increased its stake in ScanSource by 344.3% in the first quarter. Quarry LP now owns 3,541 shares of the industrial products company's stock valued at $120,000 after acquiring an additional 2,744 shares during the last quarter. Finally, RHS Financial LLC increased its stake in ScanSource by 13.1% in the first quarter. RHS Financial LLC now owns 6,765 shares of the industrial products company's stock valued at $230,000 after acquiring an additional 784 shares during the last quarter. Hedge funds and other institutional investors own 97.91% of the company's stock.

ScanSource Stock Up 0.5%

Shares of NASDAQ:SCSC opened at $44.92 on Friday. The stock's 50-day moving average price is $42.01 and its 200-day moving average price is $38.60. ScanSource, Inc. has a 12-month low of $28.75 and a 12-month high of $53.90. The stock has a market capitalization of $983.30 million, a P/E ratio of 14.92, a price-to-earnings-growth ratio of 0.75 and a beta of 1.43. 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 (NASDAQ:SCSC - Get Free Report) last announced its quarterly earnings data on Thursday, August 21st. The industrial products company reported $1.02 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.91 by $0.11. ScanSource had a return on equity of 9.38% and a net margin of 2.35%.The firm had revenue of $812.89 million for the quarter, compared to analysts' expectations of $776.21 million. During the same period last year, the firm earned $0.80 earnings per share. The company's revenue for the quarter was up 8.9% compared to the same quarter last year. ScanSource has set its FY 2026 guidance at EPS. On average, equities analysts anticipate that ScanSource, Inc. will post 3.33 earnings per share for the current year.

Wall Street Analysts Forecast Growth

SCSC has been the topic of a number of research analyst reports. Wall Street Zen raised ScanSource from a "hold" rating to a "buy" rating in a research note on Saturday, July 12th. Zacks Research raised ScanSource from a "hold" rating to a "strong-buy" rating in a research note on Monday, August 25th. One analyst has rated the stock with a Strong Buy rating and one has given a Buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of "Strong Buy" and an average target price of $42.00.

Insider Activity

In related news, EVP Rachel Hayden sold 6,738 shares of the firm's stock in a transaction dated Friday, June 20th. The stock was sold at an average price of $41.27, for a total value of $278,077.26. Following the sale, the executive vice president directly owned 13,174 shares of the company's stock, valued at $543,690.98. This trade represents a 33.84% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Insiders sold 10,415 shares of company stock worth $439,848 over the last quarter. 4.20% of the stock is currently owned by company insiders.

About ScanSource

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.

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