ScanSource, Inc. $SCSC Shares Acquired by State of Alaska Department of Revenue

State of Alaska Department of Revenue increased its position in ScanSource, Inc. (NASDAQ:SCSC) by 3.3% in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 12,357 shares of the industrial products company’s stock after buying an additional 395 shares during the period. State of Alaska Department of Revenue owned about 0.05% of ScanSource worth $516,000 as of its most recent SEC filing.

A number of other institutional investors have also modified their holdings of the company. Exchange Traded Concepts LLC raised its position in shares of ScanSource by 6.1% in the second quarter. Exchange Traded Concepts LLC now owns 30,526 shares of the industrial products company’s stock valued at $1,276,000 after buying an additional 1,753 shares during the last quarter. Voya Investment Management LLC raised its position in shares of ScanSource by 46.0% in the first quarter. Voya Investment Management LLC now owns 40,023 shares of the industrial products company’s stock valued at $1,361,000 after buying an additional 12,603 shares during the last quarter. First Hawaiian Bank raised its position in shares of ScanSource by 139.9% in the first quarter. First Hawaiian Bank now owns 14,123 shares of the industrial products company’s stock valued at $480,000 after buying an additional 8,235 shares during the last quarter. Inspire Investing LLC raised its position in shares of ScanSource by 20.1% in the first quarter. Inspire Investing LLC now owns 10,116 shares of the industrial products company’s stock valued at $344,000 after buying an additional 1,692 shares during the last quarter. Finally, Strs Ohio acquired a new position in shares of ScanSource in the first quarter valued at approximately $558,000. Institutional investors and hedge funds own 97.91% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts have recently weighed in on the stock. Wall Street Zen lowered shares of ScanSource from a “strong-buy” rating to a “buy” rating in a research report on Friday, October 3rd. Zacks Research upgraded shares of ScanSource from a “hold” rating to a “strong-buy” rating in a report on Monday, August 25th. Weiss Ratings restated a “hold (c+)” rating on shares of ScanSource in a report on Wednesday. Finally, Barclays began coverage on shares of ScanSource in a report on Tuesday. They issued an “equal weight” rating and a $43.00 target price for the company. One analyst has rated the stock with a Strong Buy rating, one has given a Buy rating and two have issued a Hold rating to the company. According to MarketBeat, ScanSource has a consensus rating of “Moderate Buy” and an average price target of $42.50.

ScanSource Price Performance

SCSC opened at $42.10 on Thursday. 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, Inc. has a 52-week low of $28.75 and a 52-week high of $53.90. The company has a 50 day moving average of $43.11 and a two-hundred day moving average of $39.79. The company has a market cap of $921.36 million, a P/E ratio of 13.99, a P/E/G ratio of 0.70 and a beta of 1.36.

ScanSource (NASDAQ:SCSC) last released its quarterly earnings data on Thursday, August 21st. The industrial products company reported $1.02 earnings per share (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 company had revenue of $812.89 million during the quarter, compared to the consensus estimate of $776.21 million. During the same period in the previous year, the firm earned $0.80 earnings per share. ScanSource’s revenue for the quarter was up 8.9% on a year-over-year basis. ScanSource has set its FY 2026 guidance at EPS. On average, analysts expect that ScanSource, Inc. will post 3.33 earnings per share for the current year.

Insider Buying and Selling at ScanSource

In other news, EVP Rachel Hayden sold 1,080 shares of the company’s stock in a transaction on Thursday, August 28th. The shares were sold at an average price of $44.69, for a total value of $48,265.20. Following the completion of the transaction, the executive vice president directly owned 11,688 shares in the company, valued at approximately $522,336.72. This represents a 8.46% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Michael L. Baur sold 102,031 shares of the company’s stock in a transaction on Wednesday, September 17th. The shares were sold at an average price of $44.96, for a total transaction of $4,587,313.76. Following the completion of the transaction, the chief executive officer owned 227,512 shares of the company’s stock, valued at $10,228,939.52. This trade represents a 30.96% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 153,677 shares of company stock valued at $6,876,030 over the last 90 days. Insiders own 4.20% of the company’s stock.

ScanSource Company 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.