Wasatch Advisors LP Has $55.82 Million Stock Holdings in ScanSource, Inc. $SCSC

Key Points

• Wasatch Advisors reduced its ScanSource stake by 2.6% in the second quarter but still held 1.07 million shares worth approximately $55.82 million, representing 5.27% of the company.
• Institutional investors own 97.91% of ScanSource, with several funds—including Pacer Advisors and California State Teachers Retirement System—increasing their positions.
• ScanSource shares were trading at $51.85 after a 4.0% decline, while analysts maintained a consensus “Hold” rating with a $43.00 price target.

Wasatch Advisors LP decreased its holdings in shares of ScanSource, Inc. (NASDAQ:SCSC - Free Report) by 2.6% in the 2nd quarter, according to its most recent 13F filing with the SEC. The fund owned 1,071,657 shares of the industrial products company's stock after selling 28,335 shares during the period. Wasatch Advisors LP owned approximately 5.27% of ScanSource worth $55,823,000 at the end of the most recent reporting period.

Other large investors also recently made changes to their positions in the company. Hennion & Walsh Asset Management Inc. acquired a new position in ScanSource in the second quarter valued at about $350,000. Pacer Advisors Inc. grew its position in shares of ScanSource by 69.7% during the 1st quarter. Pacer Advisors Inc. now owns 130,788 shares of the industrial products company's stock worth $4,748,000 after buying an additional 53,702 shares during the period. California State Teachers Retirement System increased its stake in shares of ScanSource by 25.5% in the 1st quarter. California State Teachers Retirement System now owns 26,381 shares of the industrial products company's stock valued at $958,000 after acquiring an additional 5,363 shares during the last quarter. Empowered Funds LLC increased its stake in shares of ScanSource by 10.1% in the 1st quarter. Empowered Funds LLC now owns 128,473 shares of the industrial products company's stock valued at $4,664,000 after acquiring an additional 11,767 shares during the last quarter. Finally, Lazard Asset Management LLC acquired a new stake in shares of ScanSource in the 1st quarter valued at approximately $1,851,000. Institutional investors and hedge funds own 97.91% of the company's stock.

ScanSource Trading Down 4.0%

NASDAQ:SCSC opened at $51.85 on Wednesday. The company has a debt-to-equity ratio of 0.11, a current ratio of 1.86 and a quick ratio of 1.20. The business's 50-day simple moving average is $52.37 and its 200-day simple moving average is $43.94. ScanSource, Inc. has a fifty-two week low of $33.76 and a fifty-two week high of $59.60. The stock has a market capitalization of $1.05 billion, a PE ratio of 15.71, a price-to-earnings-growth ratio of 0.84 and a beta of 1.28.

Wall Street Analyst Weigh In

Several research firms recently weighed in on SCSC. 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 upgraded shares of ScanSource from a "hold" rating to a "buy" rating in a report on Saturday. Three research analysts have rated the stock with a Hold rating, According to MarketBeat.com, ScanSource has a consensus rating of "Hold" and a consensus price target 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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.

Continue following MarketBeat

Add MarketBeat as your preferred source on Google to see our latest stories in your feed.

Add As Preferred Source