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

State of Wyoming lessened its holdings in shares of ScanSource, Inc. (NASDAQ:SCSC) by 77.6% in the 1st quarter, Holdings Channel reports. The fund owned 3,512 shares of the industrial products company’s stock after selling 12,164 shares during the quarter. State of Wyoming’s holdings in ScanSource were worth $127,000 at the end of the most recent reporting period.

A number of other institutional investors have also bought and sold shares of the business. Canada Pension Plan Investment Board purchased a new position in ScanSource in the 2nd quarter worth approximately $25,000. Royal Bank of Canada grew its position in shares of ScanSource by 165.0% in the fourth quarter. Royal Bank of Canada now owns 1,876 shares of the industrial products company’s stock valued at $73,000 after purchasing an additional 1,168 shares in the last quarter. Osaic Holdings Inc. increased its holdings in shares of ScanSource by 400.5% in the second quarter. Osaic Holdings Inc. now owns 2,087 shares of the industrial products company’s stock valued at $87,000 after purchasing an additional 1,670 shares during the last quarter. Tower Research Capital LLC TRC increased its holdings in shares of ScanSource by 672.0% in the second quarter. Tower Research Capital LLC TRC now owns 4,632 shares of the industrial products company’s stock valued at $194,000 after purchasing an additional 4,032 shares during the last quarter. Finally, Harbor Capital Advisors Inc. lifted its position in ScanSource by 12.7% during the fourth quarter. Harbor Capital Advisors Inc. now owns 5,233 shares of the industrial products company’s stock worth $204,000 after buying an additional 590 shares in the last quarter. 97.91% of the stock is owned by hedge funds and other institutional investors.

ScanSource Stock Performance

ScanSource stock opened at $56.62 on Friday. The firm has a 50 day simple moving average of $51.00 and a 200-day simple moving average of $43.20. The stock has a market cap of $1.15 billion, a price-to-earnings ratio of 17.16, a price-to-earnings-growth ratio of 0.88 and a beta of 1.28. 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, Inc. has a 1-year low of $33.76 and a 1-year high of $58.94.

ScanSource (NASDAQ:SCSC) last released its quarterly earnings results on Thursday, May 7th. The industrial products company reported $0.94 EPS for the quarter, beating the consensus estimate of $0.91 by $0.03. ScanSource had a net margin of 2.38% and a return on equity of 9.35%. The firm had revenue of $758.59 million for the quarter, compared to analyst estimates of $738.55 million. During the same quarter in the previous year, the company earned $0.86 EPS. The business’s revenue for the quarter was up 8.8% compared to the same quarter last year. On average, analysts expect that ScanSource, Inc. will post 3.9 EPS for the current year.

Analysts Set New Price Targets

A number of research firms have weighed in on SCSC. Weiss Ratings raised ScanSource from a “hold (c)” rating to a “hold (c+)” rating in a research note on Friday, May 29th. Wall Street Zen downgraded ScanSource from a “buy” rating to a “hold” rating in a research note on Saturday, July 18th. Finally, Zacks Research upgraded ScanSource from a “strong sell” rating to a “hold” rating in a report on Tuesday, April 7th. Three investment analysts have rated the stock with a Hold rating, Based on data from MarketBeat, the stock has an average rating of “Hold” and a consensus target price of $43.00.

About ScanSource

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.