Pzena Investment Management LLC Grows Position in ScanSource, Inc. $SCSC

Key Points

• Pzena Investment Management LLC increased its stake in ScanSource, Inc. by 3.6% during the second quarter, owning approximately 4.32% of the company worth $40.8 million after purchasing an additional 33,510 shares.
• ScanSource recently reported an earnings per share (EPS) of $1.02, surpassing analysts' expectations, with quarterly revenue showing an 8.9% year-over-year increase.
• Analysts have mixed ratings on ScanSource, with a consensus rating of "Moderate Buy" and the stock's target price set at $42.50.

Pzena Investment Management LLC raised its position in ScanSource, Inc. (NASDAQ:SCSC - Free Report) by 3.6% in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 975,578 shares of the industrial products company's stock after buying an additional 33,510 shares during the quarter. Pzena Investment Management LLC owned approximately 4.32% of ScanSource worth $40,789,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also modified their holdings of the company. GAMMA Investing LLC grew its position in shares of ScanSource by 25.5% during the first quarter. GAMMA Investing LLC now owns 1,944 shares of the industrial products company's stock worth $66,000 after acquiring an additional 395 shares during the last quarter. SG Americas Securities LLC purchased a new position in ScanSource during the 1st quarter worth $487,000. Ritholtz Wealth Management grew its position in ScanSource by 33.4% during the 1st quarter. Ritholtz Wealth Management now owns 20,021 shares of the industrial products company's stock worth $681,000 after purchasing an additional 5,008 shares during the last quarter. Exchange Traded Concepts LLC increased its stake in ScanSource by 33.7% in the first quarter. Exchange Traded Concepts LLC now owns 28,773 shares of the industrial products company's stock valued at $979,000 after purchasing an additional 7,254 shares during the period. Finally, RHS Financial LLC raised its holdings 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 valued at $230,000 after buying an additional 784 shares during the last quarter. 97.91% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

SCSC has been the topic of a number of research reports. Weiss Ratings reissued a "hold (c+)" rating on shares of ScanSource in a report on Wednesday, October 8th. Zacks Research raised ScanSource from a "hold" rating to a "strong-buy" rating in a research report on Monday, August 25th. Barclays assumed coverage on ScanSource in a research note on Tuesday, October 7th. They issued an "equal weight" rating and a $43.00 target price on the stock. Finally, Wall Street Zen cut ScanSource from a "strong-buy" rating to a "buy" rating in a research note on Saturday. One equities research analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating and two have assigned a Hold rating to the stock. Based on data from MarketBeat, ScanSource currently has a consensus rating of "Moderate Buy" and a consensus target price of $42.50.

ScanSource Stock Performance

NASDAQ SCSC opened at $40.45 on Monday. The business has a 50 day moving average price of $43.22 and a 200 day moving average price of $39.91. The company has a market capitalization of $885.45 million, a P/E ratio of 13.44, a PEG ratio of 0.68 and a beta of 1.36. ScanSource, Inc. has a 1-year low of $28.75 and a 1-year high of $53.90. The company has a debt-to-equity ratio of 0.14, a current ratio of 2.01 and a quick ratio of 1.30.

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

Insider Transactions at ScanSource

In other ScanSource news, CEO Michael L. Baur sold 47,969 shares of the firm's stock in a transaction dated Thursday, September 18th. The shares were sold at an average price of $44.34, for a total transaction of $2,126,945.46. Following the completion of the transaction, the chief executive officer directly owned 202,512 shares in the company, valued at approximately $8,979,382.08. This trade represents a 19.15% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, EVP Rachel Hayden sold 752 shares of ScanSource stock in a transaction dated Wednesday, September 3rd. The stock was sold at an average price of $43.57, for a total transaction of $32,764.64. Following the transaction, the executive vice president owned 14,918 shares of the company's stock, valued at approximately $649,977.26. The trade was a 4.80% decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders sold 153,677 shares of company stock worth $6,876,030. 4.20% of the stock is owned by corporate insiders.

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.

Want to see what other hedge funds are holding SCSC? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for ScanSource, Inc. (NASDAQ:SCSC - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.