ScanSource (NASDAQ:SCSC) Upgraded at Wall Street Zen

Wall Street Zen upgraded shares of ScanSource (NASDAQ:SCSC) from a hold rating to a buy rating in a report issued on Saturday morning.

Separately, Weiss Ratings raised shares of ScanSource from a “hold (c)” rating to a “hold (c+)” rating in a research note on Friday, May 29th. Three equities research analysts have rated the stock with a Hold rating, According to MarketBeat.com, ScanSource has an average rating of “Hold” and a consensus price target of $43.00.

ScanSource Stock Down 1.7%

Shares of NASDAQ:SCSC opened at $53.99 on Friday. The business has a 50-day moving average price of $52.30 and a 200 day moving average price of $43.86. The company has a current ratio of 1.86, a quick ratio of 1.20 and a debt-to-equity ratio of 0.11. The company has a market capitalization of $1.10 billion, a price-to-earnings ratio of 16.36, a PEG ratio of 0.85 and a beta of 1.28. ScanSource has a 12-month low of $33.76 and a 12-month high of $59.60.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently modified their holdings of the company. Canada Pension Plan Investment Board purchased a new stake in shares of ScanSource in the 2nd quarter valued at $25,000. Royal Bank of Canada boosted its holdings in ScanSource by 165.0% during the 4th quarter. Royal Bank of Canada now owns 1,876 shares of the industrial products company’s stock valued at $73,000 after acquiring an additional 1,168 shares during the period. Osaic Holdings Inc. grew its position in ScanSource by 400.5% in the 2nd quarter. Osaic Holdings Inc. now owns 2,087 shares of the industrial products company’s stock valued at $87,000 after acquiring an additional 1,670 shares in the last quarter. Mitsubishi UFJ Asset Management Co. Ltd. acquired a new position in ScanSource in the 2nd quarter valued at about $134,000. Finally, Tower Research Capital LLC TRC increased its stake in ScanSource by 672.0% during the second quarter. Tower Research Capital LLC TRC now owns 4,632 shares of the industrial products company’s stock worth $194,000 after purchasing an additional 4,032 shares during the period. 97.91% of the stock is currently owned by hedge funds and other institutional investors.

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.