New York State Teachers Retirement System Cuts Stake in ScanSource, Inc. $SCSC

New York State Teachers Retirement System lowered its position in shares of ScanSource, Inc. (NASDAQ:SCSC) by 3.0% in the second quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 39,879 shares of the industrial products company’s stock after selling 1,220 shares during the quarter. New York State Teachers Retirement System owned 0.18% of ScanSource worth $1,667,000 as of its most recent filing with the SEC.

Other large investors also recently bought and sold shares of the company. GAMMA Investing LLC grew its stake in shares of ScanSource by 25.5% during the 1st quarter. GAMMA Investing LLC now owns 1,944 shares of the industrial products company’s stock worth $66,000 after purchasing an additional 395 shares during the period. Moran Wealth Management LLC acquired a new position in shares of ScanSource during the 1st quarter worth $1,890,000. Principal Financial Group Inc. grew its stake in shares of ScanSource by 1.2% during the 1st quarter. Principal Financial Group Inc. now owns 117,804 shares of the industrial products company’s stock worth $4,007,000 after purchasing an additional 1,433 shares during the period. Bailard Inc. grew its stake in shares of ScanSource by 28.3% during the 1st quarter. Bailard Inc. now owns 6,800 shares of the industrial products company’s stock worth $231,000 after purchasing an additional 1,500 shares during the period. Finally, Pzena Investment Management LLC grew its stake in shares of ScanSource by 132.8% during the 1st quarter. Pzena Investment Management LLC now owns 942,068 shares of the industrial products company’s stock worth $32,040,000 after purchasing an additional 537,358 shares during the period. Hedge funds and other institutional investors own 97.91% of the company’s stock.

Analyst Ratings Changes

SCSC has been the topic of a number of recent analyst reports. Barclays initiated coverage on shares of ScanSource in a research note on Tuesday, October 7th. They set an “equal weight” rating and a $43.00 price target on the stock. Zacks Research raised shares of ScanSource from a “hold” rating to a “strong-buy” rating in a research note on Monday, August 25th. Wall Street Zen cut shares of ScanSource from a “strong-buy” rating to a “buy” rating in a research note on Saturday, October 11th. Finally, Weiss Ratings reissued a “hold (c+)” rating on shares of ScanSource in a research note on Wednesday, October 8th. One research analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating and two have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $42.50.

Insider Activity

In other ScanSource news, CEO Michael L. Baur sold 47,969 shares of the firm’s stock in a transaction dated Thursday, September 18th. The shares were sold at an average price of $44.34, for a total transaction of $2,126,945.46. Following the sale, the chief executive officer directly owned 202,512 shares of the company’s stock, valued at $8,979,382.08. This trade represents a 19.15% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Rachel Hayden sold 752 shares of the firm’s stock in a transaction dated Wednesday, September 3rd. The stock was sold at an average price of $43.57, for a total transaction of $32,764.64. Following the sale, the executive vice president directly owned 14,918 shares in the company, valued at $649,977.26. This represents a 4.80% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 153,677 shares of company stock worth $6,876,030 over the last ninety days. 4.20% of the stock is owned by corporate insiders.

ScanSource Price Performance

Shares of NASDAQ SCSC opened at $42.34 on Thursday. ScanSource, Inc. has a 52 week low of $28.75 and a 52 week high of $53.90. The stock has a market cap of $926.82 million, a price-to-earnings ratio of 14.07, a PEG ratio of 0.72 and a beta of 1.36. The company’s 50-day moving average price is $43.40 and its 200 day moving average price is $40.32. 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 results 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 for the quarter, compared to analysts’ expectations of $776.21 million. During the same period last year, the company earned $0.80 EPS. The firm’s revenue for the quarter was up 8.9% compared to the same quarter last year. ScanSource has set its FY 2026 guidance at EPS. As a group, research analysts forecast 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.