Pzena Investment Management LLC Makes New $57.81 Million Investment in ScanSource, Inc. $SCSC

Key Points

• Pzena Investment Management acquired 1.11 million ScanSource shares worth approximately $57.8 million, giving it a 5.46% stake. Institutional investors collectively own 97.91% of the company.
• Analyst sentiment remains cautious: four analysts rate ScanSource “Hold,” with an average consensus price target of $43, despite one brokerage downgrade and one independent upgrade to “Buy.”
• ScanSource shares opened at $51.71, with a 52-week range of $33.76 to $59.60 and a market capitalization of about $1.05 billion.

Pzena Investment Management LLC bought a new stake in ScanSource, Inc. (NASDAQ:SCSC - Free Report) in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm bought 1,109,743 shares of the industrial products company's stock, valued at approximately $57,807,000. Pzena Investment Management LLC owned about 5.46% of ScanSource at the end of the most recent quarter.

Other large investors have also recently bought and sold shares of the company. Canada Pension Plan Investment Board bought a new stake in shares of ScanSource during the second quarter worth about $25,000. Royal Bank of Canada raised its holdings in ScanSource by 165.0% in the 4th quarter. Royal Bank of Canada now owns 1,876 shares of the industrial products company's stock valued at $73,000 after buying an additional 1,168 shares during the last quarter. Osaic Holdings Inc. raised its holdings in ScanSource by 400.5% in the 2nd quarter. Osaic Holdings Inc. now owns 2,087 shares of the industrial products company's stock valued at $87,000 after buying an additional 1,670 shares during the last quarter. Mitsubishi UFJ Asset Management Co. Ltd. acquired a new stake in ScanSource during the 2nd quarter worth approximately $134,000. Finally, Tower Research Capital LLC TRC boosted its position in ScanSource by 672.0% during the 2nd quarter. Tower Research Capital LLC TRC now owns 4,632 shares of the industrial products company's stock worth $194,000 after buying an additional 4,032 shares during the period. 97.91% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several brokerages have issued reports on SCSC. Northcoast Research cut shares of ScanSource from a "buy" rating to a "neutral" rating in a research report on Monday. Weiss Ratings raised shares of ScanSource from a "hold (c)" rating to a "hold (c+)" rating in a research note on Friday, May 29th. Finally, Wall Street Zen upgraded shares of ScanSource from a "hold" rating to a "buy" rating in a report on Saturday, August 8th. Four equities research analysts have rated the stock with a Hold rating, According to MarketBeat.com, the stock currently has an average rating of "Hold" and a consensus price target of $43.00.

ScanSource Price Performance

Shares of SCSC opened at $51.71 on Tuesday. ScanSource, Inc. has a 1 year low of $33.76 and a 1 year high of $59.60. The company has a debt-to-equity ratio of 0.11, a current ratio of 1.86 and a quick ratio of 1.20. The company has a market capitalization of $1.05 billion, a price-to-earnings ratio of 15.67, a price-to-earnings-growth ratio of 0.83 and a beta of 1.28. The business has a 50-day moving average of $52.79 and a 200-day moving average of $44.25.

About ScanSource

ScanSource, Inc is a global provider of technology products and solutions designed to help businesses enhance operational efficiency and customer engagement. The company specializes in the distribution of point-of-sale (POS) systems, barcode and data capture devices, networking and communications equipment, and value-added software and cloud services. By combining hardware, software and professional services, ScanSource supports channel partners in delivering end-to-end solutions across multiple industries, including retail, hospitality, healthcare and logistics.

Founded in 1992 and headquartered in Greenville, South Carolina, ScanSource has built a broad international footprint, serving customers throughout North, Central and South America as well as Europe, the Middle East and Africa.

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