Hsbc Holdings PLC Purchases 11,166 Shares of ScanSource, Inc. $SCSC

Key Points

• Hsbc Holdings PLC increased its stake in ScanSource, Inc. by 154.7% in the first quarter, acquiring an additional 11,166 shares for a total of 18,384 shares valued at approximately $623,000.
• ScanSource Inc. reported a 12-month revenue increase of 8.9% and beat analysts' earnings estimates with an EPS of $1.02 against a consensus of $0.91.
• Analysts have recently upgraded their ratings on ScanSource, with a consensus target price of $42.00, indicating strong support for the stock.

Hsbc Holdings PLC raised its position in shares of ScanSource, Inc. (NASDAQ:SCSC - Free Report) by 154.7% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 18,384 shares of the industrial products company's stock after purchasing an additional 11,166 shares during the period. Hsbc Holdings PLC owned 0.08% of ScanSource worth $623,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also bought and sold shares of the company. SummerHaven Investment Management LLC grew its holdings in ScanSource by 1.9% during the first quarter. SummerHaven Investment Management LLC now owns 18,409 shares of the industrial products company's stock valued at $626,000 after purchasing an additional 344 shares during the period. GAMMA Investing LLC grew its holdings in ScanSource by 25.5% during the first quarter. GAMMA Investing LLC now owns 1,944 shares of the industrial products company's stock valued at $66,000 after purchasing an additional 395 shares during the period. Versant Capital Management Inc boosted its holdings 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 acquiring an additional 405 shares during the period. MetLife Investment Management LLC boosted its holdings in shares of ScanSource by 5.1% in the fourth quarter. MetLife Investment Management LLC now owns 14,956 shares of the industrial products company's stock worth $710,000 after acquiring an additional 721 shares during the period. Finally, Quarry LP boosted its holdings in shares of 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 acquiring an additional 721 shares during the period. 97.91% of the stock is owned by institutional investors.

ScanSource Trading Up 1.2%

Shares of NASDAQ:SCSC traded up $0.54 on Wednesday, reaching $44.16. 307,322 shares of the company traded hands, compared to its average volume of 248,053. The business's 50-day simple moving average is $41.85 and its 200 day simple moving average is $38.46. ScanSource, Inc. has a 52 week low of $28.75 and a 52 week high of $53.90. The stock has a market capitalization of $966.66 million, a P/E ratio of 14.67, a price-to-earnings-growth ratio of 0.73 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. As a group, equities analysts anticipate that ScanSource, Inc. will post 3.33 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

A number of equities analysts have recently commented on the company. Zacks Research raised ScanSource from a "hold" rating to a "strong-buy" rating in a report on Monday, August 25th. Northcoast Research raised ScanSource from a "neutral" rating to a "buy" rating and set a $42.00 price target for the company in a report on Tuesday, May 6th. Finally, Wall Street Zen raised ScanSource from a "hold" rating to a "buy" rating in a report on Saturday, July 12th. One equities research analyst has rated the stock with a Strong Buy rating and one has assigned a Buy rating to the stock. According to MarketBeat, ScanSource currently has a consensus rating of "Strong Buy" and a consensus price target of $42.00.

Insider Activity

In related news, EVP Rachel Hayden sold 833 shares of the firm's stock in a transaction dated Friday, August 29th. The stock was sold at an average price of $44.36, for a total value of $36,951.88. Following the sale, the executive vice president directly owned 10,855 shares of the company's stock, valued at $481,527.80. This trade represents a 7.13% 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 9,663 shares of company stock valued at $407,084 over the last quarter. 4.20% of the stock is owned by company insiders.

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.