Rhumbline Advisers Decreases Stake in ScanSource, Inc. $SCSC

Rhumbline Advisers lowered its position in ScanSource, Inc. (NASDAQ:SCSC) by 6.5% in the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 72,993 shares of the industrial products company’s stock after selling 5,076 shares during the quarter. Rhumbline Advisers owned approximately 0.32% of ScanSource worth $2,482,000 as of its most recent SEC filing.

A number of other institutional investors also recently added to or reduced their stakes in the company. Pzena Investment Management LLC lifted 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 worth $32,040,000 after acquiring an additional 537,358 shares during the last quarter. American Century Companies Inc. raised its holdings in ScanSource by 7.8% during the first quarter. American Century Companies Inc. now owns 818,463 shares of the industrial products company’s stock worth $27,836,000 after purchasing an additional 59,145 shares in the last quarter. Jones Financial Companies Lllp acquired a new stake in ScanSource during the first quarter worth approximately $22,848,000. LSV Asset Management raised its holdings in ScanSource by 20.1% during the first quarter. LSV Asset Management now owns 503,185 shares of the industrial products company’s stock worth $17,113,000 after purchasing an additional 84,300 shares in the last quarter. Finally, Hotchkis & Wiley Capital Management LLC raised its holdings in ScanSource by 61.2% during the first quarter. Hotchkis & Wiley Capital Management LLC now owns 336,456 shares of the industrial products company’s stock worth $11,443,000 after purchasing an additional 127,780 shares in the last quarter. Hedge funds and other institutional investors own 97.91% of the company’s stock.

Insiders Place Their Bets

In related news, EVP Rachel Hayden sold 6,738 shares of the business’s stock in a transaction dated Friday, June 20th. The shares were sold at an average price of $41.27, for a total value of $278,077.26. Following the completion of the transaction, the executive vice president owned 13,174 shares of the company’s stock, valued at approximately $543,690.98. The trade was a 33.84% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Over the last three months, insiders have sold 10,415 shares of company stock valued at $439,848. Insiders own 4.20% of the company’s stock.

Wall Street Analysts Forecast Growth

SCSC has been the topic of a number of research 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 “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 given a Buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Strong Buy” and a consensus target price of $42.00.

ScanSource Price Performance

ScanSource stock opened at $45.07 on Wednesday. ScanSource, Inc. has a 52 week low of $28.75 and a 52 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. The firm’s 50-day simple moving average is $42.28 and its 200 day simple moving average is $38.98. The firm has a market capitalization of $986.58 million, a PE ratio of 14.97, a P/E/G ratio of 0.76 and a beta of 1.43.

ScanSource (NASDAQ:SCSC) last released its quarterly earnings data on Thursday, August 21st. The industrial products company reported $1.02 EPS for the quarter, topping the consensus estimate of $0.91 by $0.11. ScanSource had a net margin of 2.35% and a return on equity of 9.38%. The business had revenue of $812.89 million for the quarter, compared to analyst estimates of $776.21 million. During the same period in the previous year, the firm earned $0.80 EPS. The business’s revenue for the quarter was up 8.9% compared to the same quarter last year. ScanSource has set its FY 2026 guidance at EPS. On average, equities research analysts predict that ScanSource, Inc. will post 3.33 EPS 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.