State of Wyoming Takes $522,000 Position in ScanSource, Inc. $SCSC

State of Wyoming purchased a new stake in ScanSource, Inc. (NASDAQ:SCSC) during the second quarter, according to the company in its most recent Form 13F filing with the SEC. The firm purchased 10,021 shares of the industrial products company’s stock, valued at approximately $522,000.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Teacher Retirement System of Texas increased its stake in shares of ScanSource by 333.8% during the fourth quarter. Teacher Retirement System of Texas now owns 153,041 shares of the industrial products company’s stock worth $5,978,000 after purchasing an additional 117,762 shares in the last quarter. Renaissance Technologies LLC purchased a new position in ScanSource in the 1st quarter valued at about $766,000. Vanguard Group Inc. lifted its stake in ScanSource by 2.9% in the 4th quarter. Vanguard Group Inc. now owns 2,827,007 shares of the industrial products company’s stock valued at $110,423,000 after buying an additional 78,993 shares in the last quarter. Universal Beteiligungs und Servicegesellschaft mbH boosted its holdings in ScanSource by 65.3% in the 4th quarter. Universal Beteiligungs und Servicegesellschaft mbH now owns 133,593 shares of the industrial products company’s stock worth $5,222,000 after buying an additional 52,763 shares during the last quarter. Finally, Lazard Asset Management LLC acquired a new stake in ScanSource in the 1st quarter worth about $1,851,000. Hedge funds and other institutional investors own 97.91% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts have commented on SCSC shares. Wall Street Zen raised ScanSource from a “hold” rating to a “buy” rating in a report on Saturday, August 8th. Weiss Ratings upgraded ScanSource from a “hold (c)” rating to a “hold (c+)” rating in a research report on Friday, May 29th. Finally, Northcoast Research downgraded ScanSource from a “buy” rating to a “neutral” rating in a research note on Monday. Four investment analysts have rated the stock with a Hold rating, According to MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $43.00.

ScanSource Stock Down 2.8%

Shares of SCSC opened at $51.71 on Tuesday. ScanSource, Inc. has a 52-week low of $33.76 and a 52-week high of $59.60. The company has a market capitalization of $1.05 billion, a PE ratio of 15.67, a price-to-earnings-growth ratio of 0.83 and a beta of 1.28. The stock has a fifty day simple moving average of $52.79 and a two-hundred day simple moving average of $44.25. The company has a quick ratio of 1.20, a current ratio of 1.86 and a debt-to-equity ratio of 0.11.

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.