Hennessy Advisors Inc. Makes New Investment in ScanSource, Inc. $SCSC

Hennessy Advisors Inc. acquired a new position in shares of ScanSource, Inc. (NASDAQ:SCSC) in the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm acquired 3,140 shares of the industrial products company’s stock, valued at approximately $131,000.

Several other institutional investors and hedge funds have also modified their holdings of the business. GAMMA Investing LLC grew its position in 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 acquiring an additional 395 shares during the last quarter. Quarry LP boosted its stake in ScanSource by 344.3% in 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. RHS Financial LLC grew its holdings in shares of ScanSource by 13.1% during the first quarter. RHS Financial LLC now owns 6,765 shares of the industrial products company’s stock worth $230,000 after purchasing an additional 784 shares during the last quarter. Bailard Inc. increased its stake in shares of ScanSource by 28.3% in the first quarter. Bailard Inc. now owns 6,800 shares of the industrial products company’s stock valued at $231,000 after buying an additional 1,500 shares in the last quarter. Finally, Zurcher Kantonalbank Zurich Cantonalbank raised its holdings in shares of ScanSource by 27.4% in the first quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 6,973 shares of the industrial products company’s stock valued at $237,000 after buying an additional 1,500 shares during the last quarter. 97.91% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of equities research analysts have commented on the stock. Weiss Ratings reissued a “hold (c+)” rating on shares of ScanSource in a report on Saturday, September 27th. Wall Street Zen cut shares of ScanSource from a “strong-buy” rating to a “buy” rating in a research note on Friday. Finally, Zacks Research upgraded shares of ScanSource from a “hold” rating to a “strong-buy” rating in a research report on Monday, August 25th. One equities research analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating and one has assigned a Hold rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Buy” and an average price target of $42.00.

ScanSource Price Performance

NASDAQ:SCSC opened at $44.11 on Monday. ScanSource, Inc. has a 12-month low of $28.75 and a 12-month high of $53.90. The firm has a market capitalization of $965.35 million, a price-to-earnings ratio of 14.65, a P/E/G ratio of 0.74 and a beta of 1.36. The stock’s 50 day moving average price is $43.03 and its two-hundred day moving average price is $39.71. 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 (NASDAQ:SCSC) last posted its earnings results on Thursday, August 21st. The industrial products company reported $1.02 earnings per share for the quarter, topping analysts’ consensus estimates of $0.91 by $0.11. ScanSource had a return on equity of 9.38% and a net margin of 2.35%.The business had revenue of $812.89 million for the quarter, compared to analyst estimates of $776.21 million. During the same period in the previous year, the firm earned $0.80 EPS. The firm’s revenue was up 8.9% compared to the same quarter last year. ScanSource has set its FY 2026 guidance at EPS. On average, analysts anticipate that ScanSource, Inc. will post 3.33 earnings per share for the current year.

Insider Activity

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

About ScanSource

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.