10,021 Shares in ScanSource, Inc. $SCSC Acquired by State of Wyoming

State of Wyoming bought a new position in shares of ScanSource, Inc. (NASDAQ:SCSC) in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm bought 10,021 shares of the industrial products company’s stock, valued at approximately $522,000.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in SCSC. Summit Global Investments purchased a new position in shares of ScanSource during the 2nd quarter worth $738,000. Wedge Capital Management L L P NC increased its position in shares of ScanSource by 2.8% during the 2nd quarter. Wedge Capital Management L L P NC now owns 73,185 shares of the industrial products company’s stock worth $3,812,000 after purchasing an additional 1,963 shares during the last quarter. Hennion & Walsh Asset Management Inc. purchased a new stake in ScanSource in the 2nd quarter valued at about $350,000. Pacer Advisors Inc. lifted its position in ScanSource by 69.7% in the first quarter. Pacer Advisors Inc. now owns 130,788 shares of the industrial products company’s stock valued at $4,748,000 after buying an additional 53,702 shares during the last quarter. Finally, California State Teachers Retirement System lifted its position in ScanSource by 25.5% in the first quarter. California State Teachers Retirement System now owns 26,381 shares of the industrial products company’s stock valued at $958,000 after buying an additional 5,363 shares during the last quarter. Hedge funds and other institutional investors own 97.91% of the company’s stock.

Analysts Set New Price Targets

Several research analysts have weighed in on the stock. Weiss Ratings raised shares of ScanSource from a “hold (c)” rating to a “hold (c+)” rating in a research note on Friday, May 29th. Wall Street Zen raised shares of ScanSource from a “hold” rating to a “buy” rating in a research note on Saturday, August 8th. Finally, Northcoast Research lowered shares of ScanSource from a “buy” rating to a “neutral” rating in a report on Monday. Four investment analysts have rated the stock with a Hold rating, According to MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus price target of $43.00.

ScanSource Price Performance

Shares of SCSC opened at $51.71 on Tuesday. The company has a market cap of $1.05 billion, a P/E ratio of 15.67, a PEG ratio of 0.83 and a beta of 1.28. ScanSource, Inc. has a fifty-two week low of $33.76 and a fifty-two week high of $59.60. The company has a quick ratio of 1.20, a current ratio of 1.86 and a debt-to-equity ratio of 0.11. The firm’s 50 day moving average price is $52.79 and its 200 day moving average price is $44.25.

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.