Sei Investments Co. Has $717,000 Holdings in ScanSource, Inc. $SCSC

Sei Investments Co. raised its stake in ScanSource, Inc. (NASDAQ:SCSC) by 130.8% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 19,765 shares of the industrial products company’s stock after purchasing an additional 11,203 shares during the period. Sei Investments Co.’s holdings in ScanSource were worth $717,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently bought and sold shares of the stock. First Trust Advisors LP increased its holdings in shares of ScanSource by 42.3% during the 1st quarter. First Trust Advisors LP now owns 10,595 shares of the industrial products company’s stock worth $385,000 after purchasing an additional 3,147 shares during the period. Meeder Asset Management Inc. bought a new stake in shares of ScanSource in the first quarter valued at about $1,848,000. Fifth Third Bancorp grew its position in ScanSource by 12,457.4% during the first quarter. Fifth Third Bancorp now owns 25,617 shares of the industrial products company’s stock worth $930,000 after buying an additional 25,413 shares in the last quarter. Strs Ohio grew its position in ScanSource by 12.3% during the first quarter. Strs Ohio now owns 18,300 shares of the industrial products company’s stock worth $664,000 after buying an additional 2,000 shares in the last quarter. Finally, Pzena Investment Management LLC increased its stake in ScanSource by 0.6% during the first quarter. Pzena Investment Management LLC now owns 913,239 shares of the industrial products company’s stock valued at $33,151,000 after acquiring an additional 5,783 shares during the period. 97.91% of the stock is currently owned by institutional investors and hedge funds.

ScanSource Price Performance

NASDAQ:SCSC opened at $52.33 on Friday. The company has a debt-to-equity ratio of 0.11, a quick ratio of 1.20 and a current ratio of 1.86. The company has a 50-day moving average of $52.59 and a 200-day moving average of $44.09. 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 $1.06 billion, a price-to-earnings ratio of 15.86, a PEG ratio of 0.81 and a beta of 1.28.

Wall Street Analysts Forecast Growth

SCSC has been the subject of a number of research reports. Wall Street Zen upgraded ScanSource from a “hold” rating to a “buy” rating in a research 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. Three investment analysts have rated the stock with a Hold rating, Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of $43.00.

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.