Empowered Funds LLC Has $4.53 Million Holdings in ScanSource, Inc. $SCSC

Empowered Funds LLC reduced its stake in ScanSource, Inc. by 22.1% in Q2, owning 108,382 shares worth $4.53 million. Other investors adjusted their positions, with LSV Asset Management increasing its stake by 7.1%. ScanSource reported Q2 earnings of $1.06 per share, beating estimates. Analysts have mixed ratings, with a consensus "Hold" and a price target of $42.50. CEO Michael Baur sold shares, reducing his ownership by 30.96%.

Empowered Funds LLC lessened its position in ScanSource, Inc. (NASDAQ:SCSC - Free Report) by 22.1% in the 2nd quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 108,382 shares of the industrial products company's stock after selling 30,737 shares during the quarter. Empowered Funds LLC owned approximately 0.48% of ScanSource worth $4,531,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. LSV Asset Management raised its stake in ScanSource by 7.1% during the 2nd quarter. LSV Asset Management now owns 538,660 shares of the industrial products company's stock valued at $22,521,000 after purchasing an additional 35,475 shares during the period. Integrated Quantitative Investments LLC purchased a new position in shares of ScanSource during the second quarter valued at $1,109,000. Commonwealth of Pennsylvania Public School Empls Retrmt SYS acquired a new position in ScanSource during the second quarter valued at $223,000. ProShare Advisors LLC acquired a new position in ScanSource during the second quarter valued at $203,000. Finally, Mitsubishi UFJ Asset Management Co. Ltd. lifted its stake in ScanSource by 22.3% in 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. 97.91% of the stock is currently owned by hedge funds and other institutional investors.

ScanSource Stock Performance

Shares of SCSC opened at $39.51 on Friday. The firm has a market cap of $866.97 million, a price-to-earnings ratio of 13.13, a price-to-earnings-growth ratio of 0.71 and a beta of 1.37. The company's fifty day moving average is $42.22 and its 200-day moving average is $41.76. 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 12 month low of $28.75 and a 12 month high of $53.90.

ScanSource (NASDAQ:SCSC - Get Free Report) last issued its quarterly earnings data on Thursday, November 6th. The industrial products company reported $1.06 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.91 by $0.15. ScanSource had a net margin of 2.35% and a return on equity of 9.38%. The firm had revenue of $739.65 million during the quarter, compared to analysts' expectations of $787.37 million. During the same period in the prior year, the company posted $0.84 earnings per share. ScanSource's revenue for the quarter was down 4.6% on a year-over-year basis. ScanSource has set its FY 2026 guidance at EPS. Equities analysts expect that ScanSource, Inc. will post 3.33 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Several equities analysts have weighed in on the company. Zacks Research cut ScanSource from a "strong-buy" rating to a "hold" rating in a research note on Tuesday, October 21st. Barclays initiated coverage on shares of ScanSource in a research report on Tuesday, October 7th. They set an "equal weight" rating and a $43.00 price objective on the stock. Weiss Ratings reiterated a "hold (c)" rating on shares of ScanSource in a research report on Wednesday. Finally, Wall Street Zen raised shares of ScanSource from a "hold" rating to a "buy" rating in a research note on Saturday. One research analyst has rated the stock with a Buy rating and three have assigned a Hold rating to the stock. According to MarketBeat, the company presently has an average rating of "Hold" and an average price target of $42.50.

Get Our Latest Stock Analysis on SCSC

Insider Transactions at ScanSource

In other ScanSource news, CEO Michael L. Baur sold 102,031 shares of the stock in a transaction that occurred on Wednesday, September 17th. The stock was sold at an average price of $44.96, for a total transaction of $4,587,313.76. Following the transaction, the chief executive officer owned 227,512 shares in the company, valued at $10,228,939.52. This trade represents a 30.96% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, EVP Rachel Hayden sold 1,080 shares of the company's stock in a transaction on Thursday, August 28th. The stock was sold at an average price of $44.69, for a total transaction of $48,265.20. Following the sale, the executive vice president directly owned 11,688 shares of the company's stock, valued at approximately $522,336.72. This represents a 8.46% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last three months, insiders have sold 153,677 shares of company stock worth $6,876,030. 3.18% of the stock is currently owned by insiders.

About ScanSource

(Free Report)

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.

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