Fintel reports that on August 23, 2023, Northcoast Research upgraded their outlook for Scansource (NASDAQ:SCSC) from Neutral to Buy .
Analyst Price Forecast Suggests 31.43% Upside
As of August 1, 2023, the average one-year price target for Scansource is 41.82. The forecasts range from a low of 40.40 to a high of $44.10. The average price target represents an increase of 31.43% from its latest reported closing price of 31.82.
See our leaderboard of companies with the largest price target upside.
The projected annual revenue for Scansource is 4,076MM, an increase of 7.61%. The projected annual non-GAAP EPS is 4.82.
What is the Fund Sentiment?
There are 441 funds or institutions reporting positions in Scansource. This is a decrease of 9 owner(s) or 2.00% in the last quarter. Average portfolio weight of all funds dedicated to SCSC is 0.09%, a decrease of 4.21%. Total shares owned by institutions decreased in the last three months by 1.72% to 27,986K shares. 
The put/call ratio of SCSC is 1.96, indicating a bearish outlook.
What are Other Shareholders Doing?
Victory Capital Management holds 1,967K shares representing 7.90% ownership of the company. In it's prior filing, the firm reported owning 1,806K shares, representing an increase of 8.21%. The firm decreased its portfolio allocation in SCSC by 35.78% over the last quarter.
IJR - iShares Core S&P Small-Cap ETF holds 1,854K shares representing 7.45% ownership of the company. In it's prior filing, the firm reported owning 1,840K shares, representing an increase of 0.75%. The firm increased its portfolio allocation in SCSC by 1.99% over the last quarter.
Pzena Investment Management holds 1,683K shares representing 6.76% ownership of the company. In it's prior filing, the firm reported owning 1,734K shares, representing a decrease of 3.01%. The firm decreased its portfolio allocation in SCSC by 7.17% over the last quarter.
SSGSX - Victory Sycamore Small Company Opportunity Fund holds 1,330K shares representing 5.34% ownership of the company. In it's prior filing, the firm reported owning 1,310K shares, representing an increase of 1.50%. The firm decreased its portfolio allocation in SCSC by 1.82% over the last quarter.
VTSMX - Vanguard Total Stock Market Index Fund Investor Shares holds 837K shares representing 3.36% ownership of the company. In it's prior filing, the firm reported owning 729K shares, representing an increase of 12.87%. The firm increased its portfolio allocation in SCSC by 10.40% over the last quarter.
Scansource Background Information
(This description is provided by the company.)
ScanSource, Inc. is at the center of the technology solution delivery channel, connecting businesses and providing solutions for their complex needs. ScanSource sells through multiple, specialized routes-to-market with digital, physical and services offerings from the world’s leading suppliers of point-of-sale (POS), payments, barcode, physical security, unified communications and collaboration, telecom, and cloud services. ScanSource enables its sales partners to create, deliver and manage solutions for end-customers across almost every vertical market. Founded in 1992 and headquartered in Greenville, South Carolina, ScanSource was named one of the 2020 Best Places to Work in South Carolina and on FORTUNE magazine’s 2020 List of World’s Most Admired Companies. ScanSource ranks #654 on the Fortune 1000.
Additional reading:
- SCANSOURCE REPORTS FOURTH QUARTER AND FULL-YEAR RESULTS
- ScanSource Announces Appointment of New Board Member Vernon Nagel brings extensive executive leadership experience and financial expertise to the ScanSource Board of Directors
- Fiscal Fourth Quarter and Full Year 2023 Earnings As we enter our new fiscal year, strong free cash flow and focus on Intelisys are keys for our success. Now that the supply chain challenges are behind us, we are normalizing our working capital to me
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