Quantbot Technologies LP Buys Shares of 28,598 ScanSource, Inc. $SCSC

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) during the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund acquired 28,598 shares of the industrial products company's stock, valued at approximately $973,000. Quantbot Technologies LP owned 0.12% of ScanSource at the end of the most recent quarter.

A number of other institutional investors also recently modified their holdings of SCSC. SummerHaven Investment Management LLC boosted its stake in shares of ScanSource by 1.9% during the 1st quarter. SummerHaven Investment Management LLC now owns 18,409 shares of the industrial products company's stock valued at $626,000 after purchasing an additional 344 shares in the last quarter. GAMMA Investing LLC raised its stake in 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 in the last quarter. Versant Capital Management Inc raised its stake in 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 in the last quarter. MetLife Investment Management LLC grew its holdings in shares of ScanSource by 5.1% during the 4th quarter. MetLife Investment Management LLC now owns 14,956 shares of the industrial products company's stock worth $710,000 after acquiring an additional 721 shares during the period. Finally, Quarry LP boosted its holdings in shares of ScanSource by 948.7% during the 4th quarter. Quarry LP now owns 797 shares of the industrial products company's stock valued at $38,000 after buying an additional 721 shares in the last quarter. 97.91% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling at ScanSource

In other news, EVP Rachel Hayden sold 6,738 shares of the business's stock in a transaction that occurred on Friday, June 20th. The shares were sold at an average price of $41.27, for a total transaction of $278,077.26. Following the completion of the transaction, the executive vice president directly owned 13,174 shares of the company's stock, valued at $543,690.98. The trade was a 33.84% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 4.20% of the stock is owned by insiders.

Wall Street Analyst Weigh In

A number of research analysts recently issued reports on SCSC shares. Northcoast Research raised shares of 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. Wall Street Zen upgraded shares of ScanSource from a "hold" rating to a "buy" rating in a 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. One investment analyst has rated the stock with a Strong Buy rating and one has issued a Buy rating to the company's stock. According to data from MarketBeat.com, the stock currently has an average rating of "Strong Buy" and a consensus price target of $42.00.

ScanSource Stock Performance

Shares of SCSC traded up $1.12 during mid-day trading on Wednesday, hitting $44.69. 411,281 shares of the company traded hands, compared to its average volume of 248,312. 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 has a 50-day moving average price of $41.55 and a two-hundred day moving average price of $38.25. ScanSource, Inc. has a 1 year low of $28.75 and a 1 year high of $53.90. The stock has a market cap of $978.04 million, a price-to-earnings ratio of 14.85, a P/E/G ratio of 0.74 and a beta of 1.41.

ScanSource (NASDAQ:SCSC - Get Free Report) last released its quarterly earnings data on Thursday, August 21st. The industrial products company reported $1.02 earnings per share for the quarter, beating the consensus estimate of $0.91 by $0.11. ScanSource had a net margin of 2.35% and a return on equity of 9.38%. The firm had revenue of $812.89 million during the quarter, compared to analysts' expectations of $776.21 million. During the same period in the previous year, the company earned $0.80 earnings per share. The firm's quarterly revenue was up 8.9% on a year-over-year basis. ScanSource has set its FY 2026 guidance at EPS. Equities analysts anticipate that ScanSource, Inc. will post 3.33 earnings per share for the current year.

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.