Acadian Asset Management LLC Increases Stock Holdings in ScanSource, Inc. $SCSC

Key Points

• Acadian Asset Management LLC increased its stake in ScanSource, Inc. by 25.3%, owning 137,359 shares valued at approximately $4.67 million.
• ScanSource has received positive analyst ratings, including a shift from "hold" to "buy" by Wall Street Zen and a "strong-buy" rating from Zacks Research.
• The company reported a Q2 EPS of $1.02, surpassing estimates, with revenue of $812.89 million reflecting an 8.9% year-over-year increase.

Acadian Asset Management LLC raised its position in shares of ScanSource, Inc. (NASDAQ:SCSC - Free Report) by 25.3% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 137,359 shares of the industrial products company's stock after purchasing an additional 27,707 shares during the quarter. Acadian Asset Management LLC owned 0.61% of ScanSource worth $4,665,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Ameriprise Financial Inc. raised its position in shares of ScanSource by 1.4% during the 4th quarter. Ameriprise Financial Inc. now owns 240,709 shares of the industrial products company's stock valued at $11,422,000 after purchasing an additional 3,399 shares during the period. Bank of America Corp DE raised its holdings in ScanSource by 75.8% during the fourth quarter. Bank of America Corp DE now owns 54,715 shares of the industrial products company's stock valued at $2,596,000 after acquiring an additional 23,587 shares during the period. Deutsche Bank AG raised its holdings in ScanSource by 47.8% during the fourth quarter. Deutsche Bank AG now owns 20,510 shares of the industrial products company's stock valued at $973,000 after acquiring an additional 6,629 shares during the period. Gotham Asset Management LLC boosted its stake in shares of ScanSource by 5.7% in the fourth quarter. Gotham Asset Management LLC now owns 28,674 shares of the industrial products company's stock worth $1,361,000 after acquiring an additional 1,547 shares during the period. Finally, Lazard Asset Management LLC boosted its stake in shares of ScanSource by 117.9% in the fourth quarter. Lazard Asset Management LLC now owns 29,380 shares of the industrial products company's stock worth $1,394,000 after acquiring an additional 15,896 shares during the period. 97.91% of the stock is owned by hedge funds and other institutional investors.

ScanSource Trading Up 1.2%

SCSC stock traded up $0.53 during midday trading on Monday, reaching $45.03. The company's stock had a trading volume of 179,872 shares, compared to its average volume of 313,762. ScanSource, Inc. has a 1 year low of $28.75 and a 1 year high of $53.90. The stock has a fifty day simple moving average of $42.22 and a two-hundred day simple moving average of $38.94. The firm has a market capitalization of $985.71 million, a price-to-earnings ratio of 14.96, a PEG ratio of 0.75 and a beta of 1.43. The company has a debt-to-equity ratio of 0.14, a quick ratio of 1.30 and a current ratio of 2.01.

ScanSource (NASDAQ:SCSC - Get Free Report) last issued 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 business had revenue of $812.89 million for the quarter, compared to the consensus estimate of $776.21 million. ScanSource had a net margin of 2.35% and a return on equity of 9.38%. The company's revenue for the quarter was up 8.9% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.80 EPS. ScanSource has set its FY 2026 guidance at EPS. On average, equities research analysts predict that ScanSource, Inc. will post 3.33 EPS for the current year.

Insider Buying and Selling at ScanSource

In related news, EVP Rachel Hayden sold 752 shares of the firm's 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 sale, the executive vice president owned 14,918 shares of the company's stock, valued at $649,977.26. This trade represents a 4.80% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. In the last three months, insiders sold 10,415 shares of company stock worth $439,848. Corporate insiders own 4.20% of the company's stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently issued reports on the stock. Wall Street Zen upgraded shares of ScanSource from a "hold" rating to a "buy" rating in a research report on Saturday, July 12th. Zacks Research upgraded ScanSource from a "hold" rating to a "strong-buy" rating in a report on Monday, August 25th. One equities research analyst has rated the stock with a Strong Buy rating and one has given a Buy rating to the company. Based on data from MarketBeat, the company has an average rating of "Strong Buy" and an average target price of $42.00.

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.