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. trimmed its stake in shares of ScanSource, Inc. (NASDAQ:SCSC - Free Report) by 20.3% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 492,324 shares of the industrial products company's stock after selling 125,775 shares during the quarter. Invesco Ltd. owned about 2.10% of ScanSource worth $16,744,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds also recently added to or reduced their stakes in SCSC. Envestnet Asset Management Inc. lifted its position in ScanSource by 43.2% during the 4th quarter. Envestnet Asset Management Inc. now owns 7,538 shares of the industrial products company's stock worth $358,000 after acquiring an additional 2,273 shares during the period. Legal & General Group Plc lifted its holdings in shares of ScanSource by 4.1% in the 4th quarter. Legal & General Group Plc now owns 62,470 shares of the industrial products company's stock valued at $2,964,000 after buying an additional 2,481 shares during the period. Raymond James Financial Inc. acquired a new stake in shares of ScanSource in the 4th quarter valued at approximately $5,687,000. Barclays PLC lifted its holdings in shares of ScanSource by 5.4% in the 4th quarter. Barclays PLC now owns 57,299 shares of the industrial products company's stock valued at $2,718,000 after buying an additional 2,953 shares during the period. Finally, First Trust Advisors LP acquired a new stake in shares of ScanSource in the 4th quarter valued at approximately $3,454,000. 97.91% of the stock is owned by institutional investors and hedge funds.

Insider Activity at ScanSource

In other news, EVP Rachel Hayden sold 6,738 shares of the business's stock in a transaction on Friday, June 20th. The stock was sold at an average price of $41.27, for a total value of $278,077.26. Following the completion of the transaction, the executive vice president directly 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 transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. 4.20% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

Several research firms have recently commented on SCSC. 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. Wall Street Zen raised ScanSource from a "hold" rating to a "buy" rating in a report on Saturday, July 12th. One analyst has rated the stock with a Buy rating, According to MarketBeat, the stock has an average rating of "Buy" and a consensus target price of $42.00.

ScanSource Price Performance

SCSC stock traded down $0.30 during midday trading on Monday, hitting $44.33. 305,534 shares of the stock were exchanged, compared to its average volume of 246,452. The stock's 50-day moving average price is $41.42 and its 200-day moving average price is $38.16. The stock has a market cap of $970.38 million, a price-to-earnings ratio of 14.73, a PEG ratio of 1.12 and a beta of 1.41. ScanSource, Inc. has a fifty-two week low of $28.75 and a fifty-two week high of $53.90. The company has a debt-to-equity ratio of 0.14, a quick ratio of 1.30 and a current ratio of 2.01.

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