Strs Ohio Takes $558,000 Position in ScanSource, Inc. $SCSC

Strs Ohio purchased a new stake in shares of ScanSource, Inc. (NASDAQ:SCSC) during the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor purchased 16,400 shares of the industrial products company’s stock, valued at approximately $558,000. Strs Ohio owned approximately 0.07% of ScanSource at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the business. Jones Financial Companies Lllp bought a new position in ScanSource in the first quarter valued at about $22,848,000. Pzena Investment Management LLC lifted its holdings 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 acquiring an additional 537,358 shares during the period. Hotchkis & Wiley Capital Management LLC lifted its holdings in 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 acquiring an additional 127,780 shares during the period. Jane Street Group LLC lifted its holdings in ScanSource by 148.3% in the first quarter. Jane Street Group LLC now owns 199,799 shares of the industrial products company’s stock valued at $6,795,000 after acquiring an additional 119,317 shares during the period. Finally, LSV Asset Management lifted its holdings 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 acquiring an additional 84,300 shares during the period. 97.91% of the stock is owned by institutional investors.

Insider Transactions at ScanSource

In related news, CEO Michael L. Baur sold 47,969 shares of the company’s stock in a transaction dated Thursday, September 18th. The stock was sold at an average price of $44.34, for a total value of $2,126,945.46. Following the completion of the transaction, the chief executive officer owned 202,512 shares of the company’s stock, valued at approximately $8,979,382.08. This represents a 19.15% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, EVP Rachel Hayden sold 752 shares of the company’s stock in a transaction dated Wednesday, September 3rd. The stock was sold at an average price of $43.57, for a total value of $32,764.64. Following the completion of the transaction, the executive vice president directly owned 14,918 shares of the company’s stock, valued at $649,977.26. The trade was a 4.80% decrease in their position. The disclosure for this sale can be found here. Insiders sold 153,677 shares of company stock worth $6,876,030 in the last 90 days. Company insiders own 4.20% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts have commented on the company. Zacks Research upgraded ScanSource from a “hold” rating to a “strong-buy” rating in a research report on Monday, August 25th. Wall Street Zen upgraded ScanSource from a “buy” rating to a “strong-buy” rating in a research report on Saturday. One research analyst has rated the stock with a Strong Buy rating and one has issued a Buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Strong Buy” and an average target price of $42.00.

ScanSource Trading Down 1.2%

Shares of NASDAQ:SCSC opened at $43.80 on Friday. ScanSource, Inc. has a 12-month low of $28.75 and a 12-month high of $53.90. The business’s fifty day simple moving average is $42.40 and its 200-day simple moving average is $39.15. The company has a market capitalization of $958.56 million, a PE ratio of 14.55, a P/E/G ratio of 0.74 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 (NASDAQ:SCSC) last announced its earnings results on Thursday, August 21st. The industrial products company reported $1.02 earnings per share (EPS) for the quarter, beating the consensus estimate 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 period in the prior year, the company posted $0.80 EPS. 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.