Russell Investments Group Ltd. Purchases 28,235 Shares of ScanSource, Inc. $SCSC

Key Points

• Russell Investments Group Ltd. increased its stake in ScanSource, Inc. by 94.3%, acquiring an additional 28,235 shares during the 1st quarter, bringing its total ownership to approximately 0.25% of the company valued at $1,979,000.
• Several research firms have upgraded ScanSource's stock rating to "buy," with a consensus price target of $42.00 and the company reporting an impressive 8.9% year-over-year revenue increase in its latest earnings results.
• Insider trading activity saw EVP Rachel Hayden sell 6,738 shares for a total of $278,077 on June 20th, representing a significant 33.84% decrease in her position.

Russell Investments Group Ltd. raised its position in shares of ScanSource, Inc. (NASDAQ:SCSC - Free Report) by 94.3% in the first quarter, according to its most recent filing with the SEC. The firm owned 58,177 shares of the industrial products company's stock after purchasing an additional 28,235 shares during the quarter. Russell Investments Group Ltd. owned approximately 0.25% of ScanSource worth $1,979,000 at the end of the most recent quarter.

Several other hedge funds have also recently added to or reduced their stakes in the company. Public Sector Pension Investment Board boosted its stake in shares of ScanSource by 25.5% in the 1st quarter. Public Sector Pension Investment Board now owns 68,490 shares of the industrial products company's stock valued at $2,329,000 after purchasing an additional 13,931 shares during the last quarter. Nuveen LLC acquired a new position in ScanSource in the first quarter valued at $2,355,000. LSV Asset Management boosted 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 valued at $17,113,000 after acquiring an additional 84,300 shares during the last quarter. Jefferies Financial Group Inc. acquired a new stake in ScanSource during the 1st quarter worth about $326,000. Finally, XTX Topco Ltd acquired a new stake in ScanSource during the 1st quarter worth about $334,000. Institutional investors own 97.91% of the company's stock.

Wall Street Analyst Weigh In

SCSC has been the topic of several research analyst reports. Zacks Research upgraded ScanSource from a "hold" rating to a "strong-buy" rating in a research report on Monday, August 25th. Northcoast Research raised ScanSource from a "neutral" rating to a "buy" rating and set a $42.00 price target on the stock in a research note on Tuesday, May 6th. Finally, Wall Street Zen upgraded ScanSource from a "hold" rating to a "buy" rating in a report on Saturday, July 12th. One equities research analyst has rated the stock with a Strong Buy rating and one has given a Buy rating to the stock. Based on data from MarketBeat, ScanSource has an average rating of "Strong Buy" and a consensus target price of $42.00.

Insider Buying and Selling at ScanSource

In other news, EVP Rachel Hayden sold 6,738 shares of the firm's stock in a transaction that occurred on 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 $543,690.98. This trade represents 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 through this hyperlink. Insiders sold a total of 9,663 shares of company stock valued at $407,084 in the last 90 days. 4.20% of the stock is owned by company insiders.

ScanSource Stock Down 1.2%

NASDAQ SCSC traded down $0.52 during mid-day trading on Monday, hitting $43.65. The company's stock had a trading volume of 201,994 shares, compared to its average volume of 320,041. The company has a current ratio of 2.01, a quick ratio of 1.30 and a debt-to-equity ratio of 0.14. The company's 50 day simple moving average is $41.81 and its 200 day simple moving average is $38.43. ScanSource, Inc. has a twelve month low of $28.75 and a twelve month high of $53.90. The firm has a market capitalization of $955.50 million, a price-to-earnings ratio of 14.50, a PEG ratio of 0.73 and a beta of 1.43.

ScanSource (NASDAQ:SCSC - Get Free Report) last issued its quarterly earnings data on Thursday, August 21st. The industrial products company reported $1.02 earnings per share (EPS) for the quarter, beating analysts' consensus estimates 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 last year, the company earned $0.80 earnings per share. The business's revenue was up 8.9% on a year-over-year basis. ScanSource has set its FY 2026 guidance at EPS. 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.