Jones Financial Companies Lllp Invests $22.85 Million in ScanSource, Inc. $SCSC

Key Points

• Jones Financial Companies Lllp has acquired 671,800 shares of ScanSource, Inc. valued at approximately $22.85 million, representing a 2.97% ownership stake in the company.
• ScanSource recently reported a quarterly earnings per share of $1.02, exceeding analysts' expectations, with a revenue of $812.89 million, reflecting an 8.9% year-over-year increase.
• Equity analysts have upgraded ScanSource's rating from "hold" to "strong-buy", with a consensus price target of $42.00 for the stock.

Jones Financial Companies Lllp bought a new position in ScanSource, Inc. (NASDAQ:SCSC - Free Report) in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor bought 671,800 shares of the industrial products company's stock, valued at approximately $22,848,000. Jones Financial Companies Lllp owned 2.97% of ScanSource at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently modified their holdings of SCSC. Versant Capital Management Inc boosted 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 during the period. GAMMA Investing LLC boosted 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 during the period. Point72 Asset Management L.P. purchased a new stake in shares of ScanSource in the fourth quarter worth about $81,000. Quarry LP boosted its position in shares of ScanSource by 344.3% in the first quarter. Quarry LP now owns 3,541 shares of the industrial products company's stock worth $120,000 after buying an additional 2,744 shares during the period. Finally, RHS Financial LLC boosted its position in shares of ScanSource by 13.1% in the first quarter. RHS Financial LLC now owns 6,765 shares of the industrial products company's stock worth $230,000 after buying an additional 784 shares during the period. Hedge funds and other institutional investors own 97.91% of the company's stock.

ScanSource Stock Down 2.0%

NASDAQ SCSC traded down $0.90 on Friday, hitting $44.50. 517,147 shares of the stock traded hands, compared to its average volume of 301,294. The stock has a 50-day moving average of $42.17 and a 200 day moving average of $38.86. ScanSource, Inc. has a twelve month low of $28.75 and a twelve month high of $53.90. The company has a market capitalization of $974.11 million, a P/E ratio of 14.78, a price-to-earnings-growth ratio of 0.76 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 the consensus estimate 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 quarter in the prior year, the firm posted $0.80 earnings per share. ScanSource'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, analysts expect that ScanSource, Inc. will post 3.33 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several research analysts recently commented on SCSC shares. Zacks Research upgraded ScanSource from a "hold" rating to a "strong-buy" rating in a research note on Monday, August 25th. Wall Street Zen upgraded ScanSource from a "hold" rating to a "buy" rating in a research note on Saturday, July 12th. One research analyst has rated the stock with a Strong Buy rating and one has assigned a Buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of "Strong Buy" and a consensus price target of $42.00.

Insider Transactions at ScanSource

In other ScanSource news, EVP Rachel Hayden sold 752 shares of the company's stock in a transaction that occurred on Wednesday, September 3rd. The stock was sold at an average price of $43.57, for a total transaction of $32,764.64. Following the sale, the executive vice president owned 14,918 shares in the company, valued at $649,977.26. This represents a 4.80% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. Insiders sold a total of 10,415 shares of company stock worth $439,848 in the last 90 days. Corporate insiders own 4.20% of the company's stock.

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.