Royal Bank of Canada Has $9.90 Million Stock Holdings in ScanSource, Inc. (NASDAQ:SCSC)
Royal Bank of Canada trimmed its position in ScanSource, Inc. (NASDAQ:SCSC) by 1.2% during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 304,141 shares of the industrial products company’s stock after selling 3,592 shares during the quarter. Royal Bank of Canada’s holdings in ScanSource were worth $9,903,000 at the end of the most recent reporting period.
A number of other hedge funds and other institutional investors have also recently modified their holdings of SCSC. Great West Life Assurance Co. Can grew its holdings in ScanSource by 6.1% in the 1st quarter. Great West Life Assurance Co. Can now owns 34,997 shares of the industrial products company’s stock valued at $1,253,000 after buying an additional 2,000 shares in the last quarter. Campbell & CO Investment Adviser LLC bought a new stake in shares of ScanSource during the 1st quarter valued at $223,000. Palouse Capital Management Inc. bought a new stake in shares of ScanSource during the 1st quarter valued at $204,000. GYL Financial Synergies LLC bought a new stake in shares of ScanSource during the 1st quarter valued at $892,000. Finally, Denali Advisors LLC lifted its position in shares of ScanSource by 228.1% during the 2nd quarter. Denali Advisors LLC now owns 23,361 shares of the industrial products company’s stock valued at $761,000 after acquiring an additional 16,240 shares during the period. 96.48% of the stock is currently owned by hedge funds and other institutional investors.
NASDAQ:SCSC opened at $29.51 on Wednesday. The stock has a fifty day moving average price of $29.72 and a 200-day moving average price of $32.59. The company has a market cap of $746.13 million, a price-to-earnings ratio of 8.78 and a beta of 0.97. The company has a debt-to-equity ratio of 0.38, a quick ratio of 1.11 and a current ratio of 2.11. ScanSource, Inc. has a fifty-two week low of $26.84 and a fifty-two week high of $44.30.
A number of research firms have recently weighed in on SCSC. BidaskClub downgraded ScanSource from a “hold” rating to a “sell” rating in a research report on Saturday, September 21st. ValuEngine upgraded ScanSource from a “strong sell” rating to a “sell” rating in a research report on Wednesday, October 2nd. Zacks Investment Research upgraded ScanSource from a “sell” rating to a “hold” rating in a research report on Tuesday, August 20th. Finally, Raymond James cut their target price on ScanSource from $44.00 to $36.00 and set an “outperform” rating for the company in a research report on Wednesday, August 21st. Two analysts have rated the stock with a sell rating, two have given a hold rating and one has assigned a buy rating to the company. The company has an average rating of “Hold” and a consensus target price of $39.00.
ScanSource Company Profile
ScanSource, Inc distributes technology products and solutions in North America, Latin America, and Europe. It operates in two segments, Worldwide Barcode, Networking & Security (WW Barcode, Networking & Security); and Worldwide Communications & Services (WW Communications & Services).
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