Wasatch Advisors LP Sells 28,335 Shares of ScanSource, Inc. $SCSC

Wasatch Advisors LP trimmed its position in ScanSource, Inc. (NASDAQ:SCSC) by 2.6% during the second quarter, HoldingsChannel.com reports. The firm owned 1,071,657 shares of the industrial products company’s stock after selling 28,335 shares during the quarter. Wasatch Advisors LP owned 0.05% of ScanSource worth $55,823,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently modified their holdings of SCSC. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its position in ScanSource by 2.2% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 13,859 shares of the industrial products company’s stock worth $471,000 after acquiring an additional 295 shares during the last quarter. Royce & Associates LP raised its holdings in shares of ScanSource by 1.7% in the fourth quarter. Royce & Associates LP now owns 26,088 shares of the industrial products company’s stock valued at $1,019,000 after purchasing an additional 433 shares during the last quarter. Summit Global Investments boosted its holdings in ScanSource by 3.3% during the fourth quarter. Summit Global Investments now owns 14,177 shares of the industrial products company’s stock worth $554,000 after purchasing an additional 451 shares during the last quarter. WINTON GROUP Ltd grew its position in ScanSource by 2.0% in the fourth quarter. WINTON GROUP Ltd now owns 26,020 shares of the industrial products company’s stock valued at $1,016,000 after purchasing an additional 510 shares in the last quarter. Finally, Franklin Resources Inc. grew its position in ScanSource by 1.6% in the third quarter. Franklin Resources Inc. now owns 36,424 shares of the industrial products company’s stock valued at $1,602,000 after purchasing an additional 567 shares in the last quarter. 97.91% of the stock is owned by institutional investors and hedge funds.

ScanSource Price Performance

Shares of SCSC opened at $51.85 on Wednesday. The company has a market cap of $1.05 billion, a price-to-earnings ratio of 15.71, a PEG ratio of 0.84 and a beta of 1.28. ScanSource, Inc. has a 1-year low of $33.76 and a 1-year high of $59.60. The company’s fifty day simple moving average is $52.37 and its 200 day simple moving average is $43.94. The company has a current ratio of 1.86, a quick ratio of 1.20 and a debt-to-equity ratio of 0.11.

Analyst Ratings Changes

SCSC has been the subject of a number of recent research reports. Wall Street Zen upgraded shares of ScanSource from a “hold” rating to a “buy” rating in a research note on Saturday. Weiss Ratings upgraded ScanSource from a “hold (c)” rating to a “hold (c+)” rating in a report on Friday, May 29th. Three research analysts have rated the stock with a Hold rating, According to MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $43.00.

ScanSource 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.