Strs Ohio Makes New $558,000 Investment in ScanSource, Inc. $SCSC

Key Points

• Strs Ohio has acquired a new stake in ScanSource, Inc. worth approximately $558,000, purchasing 16,400 shares, which represents 0.07% ownership of the company.
• Several institutional investors significantly increased their holdings in ScanSource during the first quarter, with Pzena Investment Management LLC raising its stake by 132.8%.
• Wall Street analysts have upgraded ScanSource to a "strong-buy" rating, with its stock currently having an average target price of $42.00.

Strs Ohio acquired a new stake in ScanSource, Inc. (NASDAQ:SCSC - Free Report) during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund acquired 16,400 shares of the industrial products company's stock, valued at approximately $558,000. Strs Ohio owned approximately 0.07% of ScanSource at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also modified their holdings of the company. Versant Capital Management Inc lifted its stake in shares of ScanSource by 88.4% in the 1st quarter. Versant Capital Management Inc now owns 863 shares of the industrial products company's stock valued at $29,000 after purchasing an additional 405 shares in the last quarter. GAMMA Investing LLC raised its holdings in shares of ScanSource by 25.5% during the 1st quarter. GAMMA Investing LLC now owns 1,944 shares of the industrial products company's stock valued at $66,000 after buying an additional 395 shares during the period. Point72 Asset Management L.P. purchased a new stake in shares of ScanSource during the 4th quarter valued at about $81,000. Quarry LP raised its holdings in shares of ScanSource by 344.3% during the 1st quarter. Quarry LP now owns 3,541 shares of the industrial products company's stock valued at $120,000 after buying an additional 2,744 shares during the period. Finally, RHS Financial LLC raised its holdings in shares of ScanSource by 13.1% during the 1st quarter. RHS Financial LLC now owns 6,765 shares of the industrial products company's stock valued at $230,000 after buying an additional 784 shares during the period. 97.91% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In other news, CEO Michael L. Baur sold 47,969 shares of the business's stock in a transaction that occurred on Thursday, September 18th. The stock was sold at an average price of $44.34, for a total value of $2,126,945.46. Following the completion of the sale, the chief executive officer directly owned 202,512 shares in the company, valued at approximately $8,979,382.08. The trade was a 19.15% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Rachel Hayden sold 752 shares of the business's stock in a transaction that occurred on Wednesday, September 3rd. The shares were sold at an average price of $43.57, for a total value of $32,764.64. Following the transaction, the executive vice president owned 14,918 shares of the company's stock, valued at $649,977.26. This represents a 4.80% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 153,677 shares of company stock valued at $6,876,030 over the last quarter. Company insiders own 4.20% of the company's stock.

Wall Street Analyst Weigh In

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

ScanSource Stock Up 0.3%

SCSC stock traded up $0.13 during midday trading on Tuesday, hitting $44.14. 84,402 shares of the company's stock were exchanged, compared to its average volume of 249,681. ScanSource, Inc. has a 12-month low of $28.75 and a 12-month high of $53.90. 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 stock has a market capitalization of $966.12 million, a price-to-earnings ratio of 14.66, a price-to-earnings-growth ratio of 0.74 and a beta of 1.43. The firm has a 50 day moving average price of $42.45 and a 200-day moving average price of $39.22.

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