Nuveen LLC Makes New $2.36 Million Investment in ScanSource, Inc. $SCSC

Key Points

• Nuveen LLC has acquired a new position in ScanSource, Inc., purchasing 69,246 shares valued at approximately $2.36 million, representing about 0.30% of the company's stock.
• ScanSource reported a quarterly EPS of $1.02, exceeding analyst expectations and showing an 8.9% year-over-year revenue increase to $812.89 million.
• Analyst ratings for ScanSource have become more favorable, with Zacks Research upgrading the stock from "hold" to "strong-buy."

Nuveen LLC bought a new stake in shares of ScanSource, Inc. (NASDAQ:SCSC - Free Report) in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm bought 69,246 shares of the industrial products company's stock, valued at approximately $2,355,000. Nuveen LLC owned about 0.30% of ScanSource at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the stock. Versant Capital Management Inc increased its holdings in ScanSource by 88.4% during 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 last quarter. Quarry LP lifted its stake in ScanSource by 948.7% in the fourth quarter. Quarry LP now owns 797 shares of the industrial products company's stock valued at $38,000 after purchasing an additional 721 shares during the last quarter. GAMMA Investing LLC raised its stake 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 valued at $66,000 after buying an additional 395 shares during the period. Point72 Asset Management L.P. bought a new position in ScanSource during the fourth quarter worth about $81,000. Finally, Tower Research Capital LLC TRC raised its position in shares of ScanSource by 42.1% in the fourth quarter. Tower Research Capital LLC TRC now owns 2,862 shares of the industrial products company's stock valued at $136,000 after purchasing an additional 848 shares during the period. 97.91% of the stock is owned by hedge funds and other institutional investors.

ScanSource Trading Up 0.1%

Shares of SCSC stock traded up $0.03 during mid-day trading on Wednesday, reaching $43.65. The stock had a trading volume of 138,386 shares, compared to its average volume of 247,030. ScanSource, Inc. has a 52-week low of $28.75 and a 52-week high of $53.90. The firm has a market capitalization of $955.50 million, a PE ratio of 14.50, a price-to-earnings-growth ratio of 0.73 and a beta of 1.43. The stock's 50-day moving average price is $41.85 and its two-hundred day moving average price is $38.46. 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 posted its quarterly earnings data on Thursday, August 21st. The industrial products company reported $1.02 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.91 by $0.11. The business had revenue of $812.89 million during the quarter, compared to the consensus estimate of $776.21 million. ScanSource had a return on equity of 9.38% and a net margin of 2.35%.The firm's quarterly revenue was up 8.9% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.80 earnings per share. ScanSource has set its FY 2026 guidance at EPS. Equities analysts expect that ScanSource, Inc. will post 3.33 earnings per share for the current fiscal year.

Insider Transactions at ScanSource

In other news, EVP Rachel Hayden sold 833 shares of the business'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 transaction, the executive vice president directly owned 10,855 shares in the company, valued at $481,527.80. The trade was a 7.13% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In the last ninety days, insiders sold 9,663 shares of company stock valued at $407,084. Corporate insiders own 4.20% of the company's stock.

Analyst Ratings Changes

A number of research analysts recently weighed in on the stock. Northcoast Research upgraded 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. Wall Street Zen upgraded ScanSource from a "hold" rating to a "buy" rating in a research report on Saturday, July 12th. Finally, Zacks Research upgraded ScanSource from a "hold" rating to a "strong-buy" rating in a research note on Monday, August 25th. One analyst has rated the stock with a Strong Buy rating and one has issued a Buy rating to the company's stock. Based on data from MarketBeat, the company presently has a consensus rating of "Strong Buy" and a consensus price target of $42.00.

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.