ScanSource, Inc. $SCSC Shares Purchased by American Century Companies Inc.

American Century Companies Inc. increased its stake in shares of ScanSource, Inc. (NASDAQ:SCSC) by 4.4% in the second quarter, according to its most recent 13F filing with the SEC. The firm owned 854,624 shares of the industrial products company’s stock after purchasing an additional 36,161 shares during the period. American Century Companies Inc. owned approximately 3.78% of ScanSource worth $35,732,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Quarry LP lifted its stake in ScanSource by 344.3% during the first quarter. Quarry LP now owns 3,541 shares of the industrial products company’s stock worth $120,000 after purchasing an additional 2,744 shares in the last quarter. Mitsubishi UFJ Asset Management Co. Ltd. lifted its stake in ScanSource by 22.3% during the 2nd quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 2,879 shares of the industrial products company’s stock worth $120,000 after acquiring an additional 524 shares in the last quarter. Hennessy Advisors Inc. purchased a new position in ScanSource during the 2nd quarter valued at about $131,000. ProShare Advisors LLC acquired a new position in ScanSource in the 2nd quarter valued at about $203,000. Finally, Praxis Investment Management Inc. acquired a new position in ScanSource in the 2nd quarter valued at about $207,000. Hedge funds and other institutional investors own 97.91% of the company’s stock.

Analyst Upgrades and Downgrades

SCSC has been the topic of several research reports. Barclays assumed coverage on shares of ScanSource in a research report on Tuesday, October 7th. They set an “equal weight” rating and a $43.00 price target on the stock. Wall Street Zen raised shares of ScanSource from a “hold” rating to a “buy” rating in a research note on Saturday, November 22nd. Zacks Research cut shares of ScanSource from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, October 21st. Finally, Weiss Ratings restated a “hold (c)” rating on shares of ScanSource in a research note on Tuesday. One investment analyst has rated the stock with a Buy rating and three have assigned a Hold rating to the company. According to data from MarketBeat.com, ScanSource presently has an average rating of “Hold” and an average price target of $42.50.

Insider Transactions at ScanSource

In other news, CEO Michael L. Baur sold 47,969 shares of the firm’s stock in a transaction dated 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 sale, the chief executive officer owned 202,512 shares of the company’s stock, valued at approximately $8,979,382.08. This trade represents a 19.15% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Rachel Hayden sold 752 shares of the business’s stock in a transaction that occurred on Wednesday, September 3rd. The stock was sold at an average price of $43.57, for a total value of $32,764.64. Following the sale, the executive vice president owned 14,918 shares of the company’s stock, valued at approximately $649,977.26. The trade was a 4.80% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold a total of 150,752 shares of company stock valued at $6,747,024 over the last ninety days. 3.18% of the stock is owned by company insiders.

ScanSource Trading Down 0.5%

Shares of NASDAQ:SCSC opened at $41.14 on Friday. ScanSource, Inc. has a 52 week low of $28.75 and a 52 week high of $53.90. The company’s 50 day moving average is $41.88 and its two-hundred day moving average is $41.86. The company has a market cap of $902.74 million, a PE ratio of 13.67, a P/E/G ratio of 0.71 and a beta of 1.37. 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 released its quarterly earnings data on Thursday, November 6th. The industrial products company reported $1.06 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.91 by $0.15. The business had revenue of $739.65 million during the quarter, compared to analysts’ expectations of $787.37 million. ScanSource had a net margin of 2.35% and a return on equity of 9.38%. The company’s revenue for the quarter was down 4.6% on a year-over-year basis. During the same period in the previous year, the company earned $0.84 EPS. ScanSource has set its FY 2026 guidance at EPS. Equities analysts predict that ScanSource, Inc. will post 3.33 earnings per share for the current fiscal year.

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.