ScanSource, Inc. $SCSC Shares Sold by Charles Schwab Investment Management Inc.

Key Points

• Charles Schwab Investment Management Inc. reduced its stake in ScanSource, Inc. by 5.4% to own approximately 1.29% of the company, worth about $10.26 million, after selling 17,218 shares.
• ScanSource reported an EPS of $1.02 for the quarter, surpassing the expected $0.91, with revenues increasing by 8.9% year-over-year to $812.89 million.
• Analysts have upgraded ScanSource's stock rating from "hold" to "buy", with a consensus target price of $42.00 per share.

Charles Schwab Investment Management Inc. trimmed its position in shares of ScanSource, Inc. (NASDAQ:SCSC - Free Report) by 5.4% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 301,736 shares of the industrial products company's stock after selling 17,218 shares during the period. Charles Schwab Investment Management Inc. owned approximately 1.29% of ScanSource worth $10,262,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors have also recently made changes to their positions in the company. Versant Capital Management Inc lifted its holdings in shares of ScanSource by 88.4% during the first quarter. Versant Capital Management Inc now owns 863 shares of the industrial products company's stock worth $29,000 after purchasing an additional 405 shares during the period. Quarry LP raised its position in ScanSource by 948.7% in the fourth quarter. Quarry LP now owns 797 shares of the industrial products company's stock worth $38,000 after acquiring an additional 721 shares in the last quarter. GAMMA Investing LLC boosted its stake in shares of ScanSource by 25.5% during the first quarter. GAMMA Investing LLC now owns 1,944 shares of the industrial products company's stock valued at $66,000 after acquiring an additional 395 shares during the last quarter. Point72 Asset Management L.P. purchased a new stake in shares of ScanSource during the 4th quarter valued at about $81,000. Finally, Tower Research Capital LLC TRC grew its position in shares of ScanSource by 42.1% in the 4th quarter. Tower Research Capital LLC TRC now owns 2,862 shares of the industrial products company's stock worth $136,000 after acquiring an additional 848 shares in the last quarter. Hedge funds and other institutional investors own 97.91% of the company's stock.

Analyst Ratings Changes

Several analysts have recently issued reports on SCSC shares. Zacks Research upgraded ScanSource from a "hold" rating to a "strong-buy" rating in a research note on Monday. Wall Street Zen raised ScanSource from a "hold" rating to a "buy" rating in a research report on Saturday, July 12th. Finally, Northcoast Research upgraded ScanSource from a "neutral" rating to a "buy" rating and set a $42.00 target price for the company in a research note on Tuesday, May 6th. One equities research analyst has rated the stock with a Strong Buy rating and one has given a Buy rating to the company's stock. According to MarketBeat.com, the stock has an average rating of "Strong Buy" and a consensus target price of $42.00.

Insiders Place Their Bets

In other news, EVP Rachel Hayden sold 1,012 shares of the business's stock in a transaction dated Wednesday, August 27th. The shares were sold at an average price of $43.27, for a total value of $43,789.24. Following the completion of the sale, the executive vice president owned 13,149 shares in the company, valued at approximately $568,957.23. The trade was a 7.15% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 4.20% of the stock is owned by insiders.

ScanSource Trading Up 2.6%

Shares of NASDAQ SCSC traded up $1.12 during midday trading on Wednesday, hitting $44.69. 411,281 shares of the company traded hands, compared to its average volume of 316,592. The firm has a market cap of $978.26 million, a P/E ratio of 14.85, a P/E/G ratio of 0.73 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. ScanSource, Inc. has a 12-month low of $28.75 and a 12-month high of $53.90. The stock has a 50-day moving average price of $41.63 and a 200 day moving average price of $38.29.

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

ScanSource 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.