Empowered Funds LLC Invests $5.52 Million in ScanSource, Inc. $SCSC

Key Points

• Empowered Funds LLC purchased 105,907 ScanSource shares worth approximately $5.52 million in the second quarter, giving it a 0.52% stake. Institutional investors collectively own 97.91% of the company.
• ScanSource reported quarterly EPS of $1.46, beating estimates of $1.14, while revenue reached $953.11 million, up 17.3% year over year and well above expectations.
• Analyst sentiment is mixed but leans positive: ScanSource has a consensus “Moderate Buy” rating and a $43 target price, while the stock recently opened at $56.55.

Empowered Funds LLC purchased a new position in shares of ScanSource, Inc. (NASDAQ:SCSC - Free Report) in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 105,907 shares of the industrial products company's stock, valued at approximately $5,517,000. Empowered Funds LLC owned about 0.52% of ScanSource at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the business. Canada Pension Plan Investment Board bought a new stake in shares of ScanSource during the 2nd quarter valued at $25,000. Royal Bank of Canada increased its holdings in ScanSource by 165.0% in the fourth quarter. Royal Bank of Canada now owns 1,876 shares of the industrial products company's stock valued at $73,000 after purchasing an additional 1,168 shares during the last quarter. Osaic Holdings Inc. increased its holdings in ScanSource by 400.5% in the second quarter. Osaic Holdings Inc. now owns 2,087 shares of the industrial products company's stock valued at $87,000 after purchasing an additional 1,670 shares during the last quarter. Freestone Grove Partners LP acquired a new position in ScanSource in the second quarter valued at about $119,000. Finally, Mitsubishi UFJ Asset Management Co. Ltd. acquired a new position in ScanSource in the second quarter valued at about $134,000. 97.91% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Several research firms have recently issued reports on SCSC. Weiss Ratings restated a "hold (c+)" rating on shares of ScanSource in a research report on Wednesday. Zacks Research raised shares of ScanSource from a "hold" rating to a "strong-buy" rating in a research note on Monday, August 24th. Wall Street Zen upgraded shares of ScanSource from a "buy" rating to a "strong-buy" rating in a report on Saturday. Finally, Northcoast Research lowered shares of ScanSource from a "buy" rating to a "neutral" rating in a report on Monday, August 17th. One research analyst has rated the stock with a Strong Buy rating and three have assigned a Hold rating to the company. According to data from MarketBeat.com, ScanSource has a consensus rating of "Moderate Buy" and a consensus target price of $43.00.

ScanSource Price Performance

ScanSource stock opened at $56.55 on Monday. The stock has a market capitalization of $1.14 billion, a PE ratio of 15.45, a price-to-earnings-growth ratio of 0.83 and a beta of 1.28. ScanSource, Inc. has a twelve month low of $33.76 and a twelve month high of $66.78. The company has a quick ratio of 1.15, a current ratio of 1.76 and a debt-to-equity ratio of 0.11. The company has a 50 day moving average of $53.83 and a 200-day moving average of $45.12.

ScanSource (NASDAQ:SCSC - Get Free Report) last issued its quarterly earnings data on Thursday, August 20th. The industrial products company reported $1.46 EPS for the quarter, topping analysts' consensus estimates of $1.14 by $0.32. The business had revenue of $953.11 million for the quarter, compared to analyst estimates of $814.35 million. ScanSource had a net margin of 2.44% and a return on equity of 10.10%. The firm's quarterly revenue was up 17.3% on a year-over-year basis. During the same period last year, the business posted $1.02 earnings per share. On average, equities research analysts anticipate that ScanSource, Inc. will post 4.56 EPS for the current fiscal year.

About ScanSource

ScanSource, Inc is a global provider of technology products and solutions designed to help businesses enhance operational efficiency and customer engagement. The company specializes in the distribution of point-of-sale (POS) systems, barcode and data capture devices, networking and communications equipment, and value-added software and cloud services. By combining hardware, software and professional services, ScanSource supports channel partners in delivering end-to-end solutions across multiple industries, including retail, hospitality, healthcare and logistics.

Founded in 1992 and headquartered in Greenville, South Carolina, ScanSource has built a broad international footprint, serving customers throughout North, Central and South America as well as Europe, the Middle East and Africa.

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