28,598 Shares in ScanSource, Inc. $SCSC Acquired by Quantbot Technologies LP

Key Points

• Quantbot Technologies LP has acquired 28,598 shares of ScanSource, Inc. valued at approximately $973,000, increasing its ownership stake to 0.12% as per the latest SEC filing.
• Several hedge funds, including Castlekeep Investment Advisors LLC and Pzena Investment Management LLC, have significantly increased their investments in ScanSource, indicating a strong interest from institutional investors.
• Analysts have upgraded ScanSource’s rating from "neutral" to "buy" with a target price of $42.00, reflecting positive sentiment about the company’s growth potential following its recent earnings report.

Quantbot Technologies LP acquired a new stake in ScanSource, Inc. (NASDAQ:SCSC - Free Report) in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm acquired 28,598 shares of the industrial products company's stock, valued at approximately $973,000. Quantbot Technologies LP owned approximately 0.12% of ScanSource at the end of the most recent reporting period.

Several other hedge funds have also recently bought and sold shares of SCSC. Castlekeep Investment Advisors LLC purchased a new position in ScanSource during the fourth quarter worth $78,694,000. Pzena Investment Management LLC increased its position in ScanSource by 132.8% during the first quarter. Pzena Investment Management LLC now owns 942,068 shares of the industrial products company's stock worth $32,040,000 after buying an additional 537,358 shares in the last quarter. LSV Asset Management increased its position in ScanSource by 20.1% during the first quarter. LSV Asset Management now owns 503,185 shares of the industrial products company's stock worth $17,113,000 after buying an additional 84,300 shares in the last quarter. Universal Beteiligungs und Servicegesellschaft mbH purchased a new position in ScanSource during the fourth quarter worth $3,771,000. Finally, First Trust Advisors LP purchased a new position in ScanSource during the fourth quarter worth $3,454,000. 97.91% of the stock is owned by hedge funds and other institutional investors.

ScanSource Trading Down 1.2%

ScanSource stock traded down $0.52 during midday trading on Friday, reaching $43.65. The stock had a trading volume of 201,994 shares, compared to its average volume of 324,341. ScanSource, Inc. has a twelve month low of $28.75 and a twelve month high of $53.90. The stock has a market capitalization of $955.50 million, a PE ratio of 14.50, a price-to-earnings-growth ratio of 0.74 and a beta of 1.41. The company has a debt-to-equity ratio of 0.14, a quick ratio of 1.30 and a current ratio of 2.01. The stock's 50-day simple moving average is $41.77 and its 200 day simple moving average is $38.37.

ScanSource (NASDAQ:SCSC - Get Free Report) last issued its quarterly earnings data 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 analysts' expectations 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% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.80 earnings per share. ScanSource has set its FY 2026 guidance at EPS. Analysts expect that ScanSource, Inc. will post 3.33 EPS for the current year.

Analyst Upgrades and Downgrades

Several research firms have weighed in on SCSC. Wall Street Zen raised ScanSource from a "hold" rating to a "buy" rating in a research report on Saturday, July 12th. Northcoast Research raised ScanSource from a "neutral" rating to a "buy" rating and set a $42.00 price target for the company in a research report on Tuesday, May 6th. Finally, Zacks Research raised ScanSource from a "hold" rating to a "strong-buy" rating in a research report on Monday. One equities research 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.com, ScanSource has a consensus rating of "Strong Buy" and a consensus price target of $42.00.

Insider Activity at ScanSource

In related news, EVP Rachel Hayden sold 6,738 shares of the business's stock in a transaction dated Friday, June 20th. The stock was sold at an average price of $41.27, for a total value of $278,077.26. Following the transaction, the executive vice president owned 13,174 shares in the company, valued at approximately $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 can be accessed through this link. Insiders sold a total of 9,663 shares of company stock valued at $407,084 in the last 90 days. 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.