ScanSource, Inc. $SCSC Shares Sold by Invesco Ltd.

Key Points

• Invesco Ltd. has reduced its shareholdings in ScanSource, Inc. by 20.3%, selling 125,775 shares to hold 492,324 shares worth $16.74 million.
• ScanSource reported a quarterly earnings per share of $1.02, exceeding analysts' expectations of $0.91, with revenue of $812.89 million, marking an 8.9% year-over-year increase.
• Institutional investors currently own 97.91% of ScanSource's stock, demonstrating significant ownership concentration among hedge funds and investment firms.

Invesco Ltd. decreased its position in shares of ScanSource, Inc. (NASDAQ:SCSC - Free Report) by 20.3% in the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 492,324 shares of the industrial products company's stock after selling 125,775 shares during the period. Invesco Ltd. owned approximately 2.10% of ScanSource worth $16,744,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently made changes to their positions in SCSC. Castlekeep Investment Advisors LLC purchased a new position in shares of ScanSource during the fourth quarter valued at about $78,694,000. Pzena Investment Management LLC grew its position in shares of ScanSource by 132.8% during the first quarter. Pzena Investment Management LLC now owns 942,068 shares of the industrial products company's stock valued at $32,040,000 after purchasing an additional 537,358 shares in the last quarter. Raymond James Financial Inc. purchased a new position in shares of ScanSource during the fourth quarter valued at about $5,687,000. LSV Asset Management grew its position in shares of ScanSource by 20.1% during the first quarter. LSV Asset Management now owns 503,185 shares of the industrial products company's stock valued at $17,113,000 after purchasing an additional 84,300 shares in the last quarter. Finally, Universal Beteiligungs und Servicegesellschaft mbH purchased a new position in shares of ScanSource during the fourth quarter valued at about $3,771,000. Hedge funds and other institutional investors own 97.91% of the company's stock.

Insider Activity at ScanSource

In other news, EVP Rachel Hayden sold 1,012 shares of ScanSource stock in a transaction on Wednesday, August 27th. The shares were sold at an average price of $43.27, for a total transaction of $43,789.24. Following the completion of the sale, the executive vice president directly owned 13,149 shares in the company, valued at approximately $568,957.23. The trade was a 7.15% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Insiders own 4.20% of the company's stock.

ScanSource Stock Up 2.6%

SCSC stock traded up $1.12 during trading on Wednesday, hitting $44.69. 411,281 shares of the company's stock traded hands, compared to its average volume of 316,592. The firm has a market capitalization of $978.26 million, a P/E ratio of 14.85, a PEG ratio of 0.73 and a beta of 1.41. The business has a fifty day simple moving average of $41.63 and a two-hundred day simple moving average of $38.29. The company has a quick ratio of 1.30, a current ratio of 2.01 and a debt-to-equity ratio of 0.14. ScanSource, Inc. has a 1 year low of $28.75 and a 1 year high of $53.90.

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

Analyst Ratings Changes

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

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.