Raymond James Financial Inc. Has $3.09 Million Position in ScanSource, Inc. $SCSC

Raymond James Financial Inc. lowered its stake in shares of ScanSource, Inc. (NASDAQ:SCSC) by 24.1% in the first quarter, according to its most recent disclosure with the SEC. The fund owned 90,929 shares of the industrial products company’s stock after selling 28,918 shares during the period. Raymond James Financial Inc. owned approximately 0.39% of ScanSource worth $3,092,000 as of its most recent filing with the SEC.

A number of other large investors have also made changes to their positions in SCSC. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its stake in ScanSource by 18.0% in the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 45,469 shares of the industrial products company’s stock valued at $2,158,000 after acquiring an additional 6,936 shares during the period. Principal Financial Group Inc. raised its position in shares of ScanSource by 1.2% during the first quarter. Principal Financial Group Inc. now owns 117,804 shares of the industrial products company’s stock worth $4,007,000 after acquiring an additional 1,433 shares during the last quarter. Deutsche Bank AG raised its position in shares of ScanSource by 47.8% during the fourth quarter. Deutsche Bank AG now owns 20,510 shares of the industrial products company’s stock worth $973,000 after acquiring an additional 6,629 shares during the last quarter. Picton Mahoney Asset Management boosted its stake in ScanSource by 414.4% in the first quarter. Picton Mahoney Asset Management now owns 11,553 shares of the industrial products company’s stock valued at $392,000 after acquiring an additional 9,307 shares during the last quarter. Finally, Wealth Enhancement Advisory Services LLC bought a new position in ScanSource in the fourth quarter valued at approximately $365,000. Institutional investors and hedge funds own 97.91% of the company’s stock.

Insider Activity

In other ScanSource news, EVP Rachel Hayden sold 6,738 shares of the stock in a transaction that occurred on Friday, June 20th. The shares were 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 in the company, valued at $543,690.98. This represents a 33.84% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. In the last quarter, insiders have sold 10,415 shares of company stock worth $439,848. Corporate insiders own 4.20% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently weighed in on SCSC shares. Wall Street Zen raised shares of ScanSource from a “hold” rating to a “buy” rating in a research report on Saturday, July 12th. Zacks Research upgraded shares of ScanSource from a “hold” rating to a “strong-buy” rating in a research note on Monday, August 25th. One investment analyst has rated the stock with a Strong Buy rating and one has assigned a Buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Strong Buy” and a consensus price target of $42.00.

ScanSource Price Performance

Shares of NASDAQ SCSC opened at $44.92 on Monday. The firm has a market cap of $983.30 million, a P/E ratio of 14.92, a price-to-earnings-growth ratio of 0.75 and a beta of 1.43. The company has a current ratio of 2.01, a quick ratio of 1.30 and a debt-to-equity ratio of 0.14. ScanSource, Inc. has a 1-year low of $28.75 and a 1-year high of $53.90. The business’s 50 day moving average is $42.01 and its 200-day moving average is $38.62.

ScanSource (NASDAQ:SCSC) last announced its earnings results on Thursday, August 21st. The industrial products company reported $1.02 earnings per share for the quarter, topping analysts’ consensus estimates of $0.91 by $0.11. The company had revenue of $812.89 million for the quarter, compared to analyst estimates of $776.21 million. ScanSource had a return on equity of 9.38% and a net margin of 2.35%.The firm’s quarterly 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. Equities research analysts predict that ScanSource, Inc. will post 3.33 earnings per share for the current year.

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.