ScanSource, Inc. $SCSC Shares Sold by Vanguard Group Inc.

Key Points

• Vanguard Group Inc. reduced its stake in ScanSource, Inc. by 1.8%, holding approximately 2.97 million shares valued at $100.99 million as of the end of the most recent quarter.
• ScanSource's stock recently opened at $44.63 and reported earnings of $1.02 EPS, exceeding estimates while showing an 8.9% year-over-year revenue increase.
• Wall Street analysts represent a growing confidence in ScanSource, upgrading its rating from "hold" to "buy" and setting a price target of $42.00.

Vanguard Group Inc. cut its stake in ScanSource, Inc. (NASDAQ:SCSC - Free Report) by 1.8% in the first quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 2,969,463 shares of the industrial products company's stock after selling 53,879 shares during the quarter. Vanguard Group Inc. owned about 12.66% of ScanSource worth $100,991,000 as of its most recent SEC filing.

A number of other hedge funds have also modified their holdings of the business. Envestnet Asset Management Inc. boosted its holdings in ScanSource by 43.2% during the 4th quarter. Envestnet Asset Management Inc. now owns 7,538 shares of the industrial products company's stock valued at $358,000 after acquiring an additional 2,273 shares during the period. Raymond James Financial Inc. purchased a new stake in ScanSource during the fourth quarter worth approximately $5,687,000. Barclays PLC lifted its stake in ScanSource by 5.4% during the fourth quarter. Barclays PLC now owns 57,299 shares of the industrial products company's stock worth $2,718,000 after purchasing an additional 2,953 shares during the last quarter. First Trust Advisors LP purchased a new stake in ScanSource during the fourth quarter worth approximately $3,454,000. Finally, MetLife Investment Management LLC increased its position in ScanSource by 5.1% during the fourth quarter. MetLife Investment Management LLC now owns 14,956 shares of the industrial products company's stock worth $710,000 after buying an additional 721 shares during the period. 97.91% of the stock is currently owned by hedge funds and other institutional investors.

ScanSource Stock Down 1.2%

Shares of SCSC stock traded down $0.52 during trading hours on Thursday, reaching $44.17. The company had a trading volume of 194,515 shares, compared to its average volume of 327,518. 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 twelve month low of $28.75 and a twelve month high of $53.90. The company has a market capitalization of $966.88 million, a P/E ratio of 14.67, a price-to-earnings-growth ratio of 0.75 and a beta of 1.41. The stock's fifty day simple moving average is $41.70 and its 200 day simple moving average is $38.33.

ScanSource (NASDAQ:SCSC - Get Free Report) last issued its quarterly 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 firm had revenue of $812.89 million during the quarter, compared to the consensus estimate of $776.21 million. ScanSource had a return on equity of 9.38% and a net margin of 2.35%.ScanSource's revenue for the quarter was up 8.9% on a year-over-year basis. During the same quarter in the prior year, the business posted $0.80 earnings per share. ScanSource has set its FY 2026 guidance at EPS. As a group, sell-side analysts expect that ScanSource, Inc. will post 3.33 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Several research firms have commented on SCSC. Zacks Research raised ScanSource from a "hold" rating to a "strong-buy" rating in a research report on Monday. Wall Street Zen upgraded 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 on the stock in a research report on Tuesday, May 6th. One analyst has rated the stock with a Strong Buy rating and one has assigned a Buy rating to the company's stock. Based on data from MarketBeat.com, ScanSource presently has an average rating of "Strong Buy" and a consensus price target of $42.00.

Insider Buying and Selling

In other ScanSource news, EVP Rachel Hayden sold 6,738 shares of the stock in a transaction that occurred on Friday, June 20th. The stock was sold at an average price of $41.27, for a total transaction of $278,077.26. Following the transaction, the executive vice president owned 13,174 shares of the company's stock, valued at $543,690.98. This trade represents a 33.84% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. 4.20% of the stock is currently owned by corporate insiders.

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.