Nuveen LLC Takes $2.36 Million Position in ScanSource, Inc. $SCSC

Nuveen LLC acquired a new position in ScanSource, Inc. (NASDAQ:SCSC) during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 69,246 shares of the industrial products company’s stock, valued at approximately $2,355,000. Nuveen LLC owned approximately 0.30% of ScanSource as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in SCSC. Castlekeep Investment Advisors LLC bought a new position in shares of ScanSource in the 4th quarter valued at about $78,694,000. Pzena Investment Management LLC grew its stake in 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 in the last quarter. LSV Asset Management grew its stake in 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 in the last quarter. Bridgeway Capital Management LLC increased its position in shares of ScanSource by 1.8% during the 4th quarter. Bridgeway Capital Management LLC now owns 366,156 shares of the industrial products company’s stock worth $17,374,000 after purchasing an additional 6,592 shares during the last quarter. Finally, Northern Trust Corp raised its stake in shares of ScanSource by 7.9% during the 4th quarter. Northern Trust Corp now owns 273,594 shares of the industrial products company’s stock worth $12,982,000 after purchasing an additional 19,984 shares in the last quarter. 97.91% of the stock is currently owned by institutional investors and hedge funds.

ScanSource Price Performance

Shares of SCSC opened at $43.65 on Friday. The company’s 50-day moving average is $41.77 and its 200-day moving average is $38.37. The company has a debt-to-equity ratio of 0.14, a current ratio of 2.01 and a quick ratio of 1.30. The firm has a market capitalization of $955.50 million, a PE ratio of 14.50, a PEG ratio of 0.74 and a beta of 1.41. ScanSource, Inc. has a fifty-two week low of $28.75 and a fifty-two week high of $53.90.

ScanSource (NASDAQ:SCSC) last announced 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 business had revenue of $812.89 million for the quarter, compared to analyst estimates of $776.21 million. ScanSource had a net margin of 2.35% and a return on equity of 9.38%. ScanSource’s quarterly revenue was up 8.9% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.80 EPS. ScanSource has set its FY 2026 guidance at EPS. Equities analysts forecast that ScanSource, Inc. will post 3.33 EPS for the current year.

Analyst Ratings Changes

SCSC has been the topic of a number of recent analyst reports. Zacks Research upgraded shares of ScanSource from a “hold” rating to a “strong-buy” rating in a report on Monday, August 25th. Northcoast Research upgraded shares of ScanSource from a “neutral” rating to a “buy” rating and set a $42.00 price objective on the stock in a research note on Tuesday, May 6th. Finally, Wall Street Zen raised shares of ScanSource from a “hold” rating to a “buy” rating in a report on Saturday, July 12th. One equities research analyst has rated the stock with a Strong Buy rating and one has issued a Buy rating to the stock. Based on data from MarketBeat, ScanSource presently has an average rating of “Strong Buy” and an average target price of $42.00.

Insiders Place Their Bets

In related news, EVP Rachel Hayden sold 833 shares of the business’s stock in a transaction on Friday, August 29th. The stock was sold at an average price of $44.36, for a total value of $36,951.88. Following the completion of the sale, the executive vice president directly owned 10,855 shares in the company, valued at $481,527.80. The trade was a 7.13% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Over the last ninety days, insiders sold 9,663 shares of company stock worth $407,084. Company insiders own 4.20% of the company’s stock.

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.