Voya Investment Management LLC Grows Position in ScanSource, Inc. $SCSC

Key Points

• Voya Investment Management LLC increased its stake in ScanSource, Inc. by 46.0% during the first quarter, acquiring a total of 40,023 shares valued at approximately $1.36 million.
• Analysts have upgraded ScanSource's rating from a "hold" to a "strong-buy", with a consensus price target of $42.00, reflecting positive market sentiment towards the stock.
• In recent insider trading, CEO Michael L. Baur sold nearly 48,000 shares for about $2.13 million, representing a significant decrease in his ownership position by 19.15%.

Voya Investment Management LLC raised its holdings in shares of ScanSource, Inc. (NASDAQ:SCSC - Free Report) by 46.0% in the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 40,023 shares of the industrial products company's stock after buying an additional 12,603 shares during the quarter. Voya Investment Management LLC owned about 0.18% of ScanSource worth $1,361,000 as of its most recent SEC filing.

A number of other hedge funds have also recently modified their holdings of the company. Pzena Investment Management LLC grew its holdings in shares of ScanSource by 132.8% in the first quarter. Pzena Investment Management LLC now owns 942,068 shares of the industrial products company's stock valued at $32,040,000 after purchasing an additional 537,358 shares during the period. American Century Companies Inc. grew its holdings in shares of ScanSource by 7.8% in the first quarter. American Century Companies Inc. now owns 818,463 shares of the industrial products company's stock valued at $27,836,000 after purchasing an additional 59,145 shares during the period. Jones Financial Companies Lllp purchased a new stake in shares of ScanSource in the first quarter valued at about $22,848,000. LSV Asset Management grew its holdings in shares of ScanSource by 20.1% in the first quarter. LSV Asset Management now owns 503,185 shares of the industrial products company's stock valued at $17,113,000 after purchasing an additional 84,300 shares during the period. Finally, Hotchkis & Wiley Capital Management LLC grew its holdings in shares of ScanSource by 61.2% in the first quarter. Hotchkis & Wiley Capital Management LLC now owns 336,456 shares of the industrial products company's stock valued at $11,443,000 after purchasing an additional 127,780 shares during the period. Hedge funds and other institutional investors own 97.91% of the company's stock.

Analyst Ratings Changes

SCSC has been the subject of a number of analyst reports. Zacks Research raised shares of ScanSource from a "hold" rating to a "strong-buy" rating in a report on Monday, August 25th. Wall Street Zen raised shares of ScanSource from a "buy" rating to a "strong-buy" rating in a report on Saturday. One investment 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 presently has a consensus rating of "Strong Buy" and a consensus price target of $42.00.

Insider Activity at ScanSource

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

ScanSource Stock Up 0.5%

Shares of NASDAQ:SCSC opened at $44.01 on Tuesday. The firm's 50 day moving average price is $42.45 and its 200 day moving average price is $39.22. The stock has a market cap of $963.38 million, a price-to-earnings ratio of 14.62, a price-to-earnings-growth ratio of 0.74 and a beta of 1.43. ScanSource, Inc. has a fifty-two week low of $28.75 and a fifty-two week high of $53.90. The company has a quick ratio of 1.30, a current ratio of 2.01 and a debt-to-equity ratio of 0.14.

ScanSource (NASDAQ:SCSC - Get Free Report) last issued its earnings results on Thursday, August 21st. The industrial products company reported $1.02 earnings per share for the quarter, beating the consensus estimate of $0.91 by $0.11. The firm had revenue of $812.89 million for 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% compared to the same quarter last year. During the same quarter last year, the company earned $0.80 earnings per share. ScanSource has set its FY 2026 guidance at EPS. As a group, equities research analysts predict that ScanSource, Inc. will post 3.33 earnings per share for the current fiscal 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.

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