Envestnet Asset Management Inc. Has $592,000 Stake in ScanSource, Inc. $SCSC

Envestnet Asset Management Inc. grew its holdings in ScanSource, Inc. (NASDAQ:SCSC) by 90.4% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 14,151 shares of the industrial products company’s stock after purchasing an additional 6,720 shares during the period. Envestnet Asset Management Inc. owned about 0.06% of ScanSource worth $592,000 as of its most recent SEC filing.

Other institutional investors have also recently bought and sold shares of the company. Quarry LP grew its stake in shares of ScanSource by 344.3% in the 1st quarter. Quarry LP now owns 3,541 shares of the industrial products company’s stock valued at $120,000 after buying an additional 2,744 shares in the last quarter. Hennessy Advisors Inc. acquired a new stake in ScanSource in the second quarter valued at approximately $131,000. Praxis Investment Management Inc. bought a new stake in ScanSource in the second quarter worth $207,000. Zurcher Kantonalbank Zurich Cantonalbank boosted its stake in shares of ScanSource by 27.4% during the 1st quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 6,973 shares of the industrial products company’s stock worth $237,000 after acquiring an additional 1,500 shares in the last quarter. Finally, Versor Investments LP raised its stake in shares of ScanSource by 87.0% in the 1st quarter. Versor Investments LP now owns 8,600 shares of the industrial products company’s stock valued at $292,000 after acquiring an additional 4,000 shares in the last quarter. Institutional investors and hedge funds own 97.91% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts have issued reports on the company. Weiss Ratings reaffirmed a “hold (c)” rating on shares of ScanSource in a research report on Wednesday, November 19th. Zacks Research lowered shares of ScanSource from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, October 21st. Wall Street Zen raised ScanSource from a “hold” rating to a “buy” rating in a research report on Saturday. Finally, Barclays assumed coverage on ScanSource in a report on Tuesday, October 7th. They set an “equal weight” rating and a $43.00 price objective on the stock. One equities research analyst has rated the stock with a Buy rating and three have issued a Hold rating to the company. According to data from MarketBeat.com, ScanSource has a consensus rating of “Hold” and an average price target of $42.50.

ScanSource Price Performance

ScanSource stock opened at $40.20 on Tuesday. ScanSource, Inc. has a 12-month low of $28.75 and a 12-month high of $53.90. The business’s 50-day simple moving average is $42.13 and its 200 day simple moving average is $41.86. 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 stock has a market cap of $882.11 million, a price-to-earnings ratio of 13.36, a P/E/G ratio of 0.71 and a beta of 1.37.

ScanSource (NASDAQ:SCSC) last announced its quarterly earnings data on Thursday, November 6th. The industrial products company reported $1.06 earnings per share for the quarter, beating the consensus estimate of $0.91 by $0.15. The business had revenue of $739.65 million for the quarter, compared to analyst estimates of $787.37 million. ScanSource had a net margin of 2.35% and a return on equity of 9.38%. ScanSource’s revenue was down 4.6% compared to the same quarter last year. During the same period in the prior year, the business posted $0.84 earnings per share. ScanSource has set its FY 2026 guidance at EPS. As a group, research analysts anticipate that ScanSource, Inc. will post 3.33 earnings per share for the current year.

Insider Buying and Selling

In related news, EVP Rachel Hayden sold 752 shares of ScanSource stock in a transaction that occurred on Wednesday, September 3rd. The shares were sold at an average price of $43.57, for a total transaction of $32,764.64. Following the transaction, the executive vice president owned 14,918 shares of the company’s stock, valued at $649,977.26. This trade represents a 4.80% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Michael L. Baur sold 47,969 shares of ScanSource stock in a transaction on Thursday, September 18th. The stock was sold at an average price of $44.34, for a total transaction of $2,126,945.46. Following the transaction, the chief executive officer directly owned 202,512 shares in the company, valued at approximately $8,979,382.08. This represents a 19.15% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold a total of 153,677 shares of company stock worth $6,876,030 over the last quarter. 3.18% of the stock is currently owned by corporate insiders.

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.