ScanSource, Inc. $SCSC Shares Sold by State of Wyoming

State of Wyoming lessened its holdings in ScanSource, Inc. (NASDAQ:SCSC) by 77.6% in the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 3,512 shares of the industrial products company’s stock after selling 12,164 shares during the period. State of Wyoming’s holdings in ScanSource were worth $127,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors also recently bought and sold shares of the business. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its holdings in ScanSource by 2.2% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 13,859 shares of the industrial products company’s stock valued at $471,000 after purchasing an additional 295 shares during the period. Royce & Associates LP raised its stake in shares of ScanSource by 1.7% during the 4th quarter. Royce & Associates LP now owns 26,088 shares of the industrial products company’s stock worth $1,019,000 after buying an additional 433 shares during the period. Summit Global Investments raised its stake in shares of ScanSource by 3.3% during the 4th quarter. Summit Global Investments now owns 14,177 shares of the industrial products company’s stock worth $554,000 after buying an additional 451 shares during the period. WINTON GROUP Ltd lifted its position in shares of ScanSource by 2.0% during the 4th quarter. WINTON GROUP Ltd now owns 26,020 shares of the industrial products company’s stock valued at $1,016,000 after buying an additional 510 shares in the last quarter. Finally, Franklin Resources Inc. lifted its position in shares of ScanSource by 1.6% during the 3rd quarter. Franklin Resources Inc. now owns 36,424 shares of the industrial products company’s stock valued at $1,602,000 after buying an additional 567 shares in the last quarter. Institutional investors and hedge funds own 97.91% of the company’s stock.

Wall Street Analysts Forecast Growth

SCSC has been the subject of several recent analyst reports. Weiss Ratings raised shares of ScanSource from a “hold (c)” rating to a “hold (c+)” rating in a report on Friday, May 29th. Wall Street Zen downgraded shares of ScanSource from a “buy” rating to a “hold” rating in a report on Saturday, July 18th. Finally, Zacks Research upgraded shares of ScanSource from a “strong sell” rating to a “hold” rating in a research report on Tuesday, April 7th. Three investment analysts have rated the stock with a Hold rating, According to MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $43.00.

ScanSource Stock Performance

NASDAQ SCSC opened at $56.62 on Friday. The company has a market cap of $1.15 billion, a PE ratio of 17.16, a price-to-earnings-growth ratio of 0.88 and a beta of 1.28. The stock’s 50 day simple moving average is $51.00 and its 200-day simple moving average is $43.20. ScanSource, Inc. has a 1-year low of $33.76 and a 1-year high of $58.94. The company has a debt-to-equity ratio of 0.11, a current ratio of 1.86 and a quick ratio of 1.20.

ScanSource (NASDAQ:SCSC) last issued its quarterly earnings results on Thursday, May 7th. The industrial products company reported $0.94 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.91 by $0.03. ScanSource had a return on equity of 9.35% and a net margin of 2.38%.The firm had revenue of $758.59 million for the quarter, compared to analyst estimates of $738.55 million. During the same period in the previous year, the company posted $0.86 earnings per share. The business’s revenue was up 8.8% on a year-over-year basis. As a group, equities research analysts anticipate that ScanSource, Inc. will post 3.9 EPS for the current fiscal year.

ScanSource Company Profile

ScanSource, Inc is a global provider of technology products and solutions designed to help businesses enhance operational efficiency and customer engagement. The company specializes in the distribution of point-of-sale (POS) systems, barcode and data capture devices, networking and communications equipment, and value-added software and cloud services. By combining hardware, software and professional services, ScanSource supports channel partners in delivering end-to-end solutions across multiple industries, including retail, hospitality, healthcare and logistics.

Founded in 1992 and headquartered in Greenville, South Carolina, ScanSource has built a broad international footprint, serving customers throughout North, Central and South America as well as Europe, the Middle East and Africa.