Sei Investments Co. Has $717,000 Stock Position in ScanSource, Inc. $SCSC

Sei Investments Co. lifted its holdings in ScanSource, Inc. (NASDAQ:SCSC) by 130.8% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 19,765 shares of the industrial products company’s stock after purchasing an additional 11,203 shares during the period. Sei Investments Co. owned 0.10% of ScanSource worth $717,000 at the end of the most recent reporting period.

Other large investors have also recently bought and sold shares of the company. Teacher Retirement System of Texas raised its holdings in ScanSource by 333.8% during the fourth quarter. Teacher Retirement System of Texas now owns 153,041 shares of the industrial products company’s stock valued at $5,978,000 after buying an additional 117,762 shares in the last quarter. Universal Beteiligungs und Servicegesellschaft mbH boosted its stake in shares of ScanSource by 65.3% during the 4th quarter. Universal Beteiligungs und Servicegesellschaft mbH now owns 133,593 shares of the industrial products company’s stock worth $5,222,000 after acquiring an additional 52,763 shares in the last quarter. Vanguard Group Inc. increased its holdings in shares of ScanSource by 2.9% during the 4th quarter. Vanguard Group Inc. now owns 2,827,007 shares of the industrial products company’s stock valued at $110,423,000 after acquiring an additional 78,993 shares during the last quarter. Meeder Asset Management Inc. bought a new position in shares of ScanSource in the 1st quarter valued at approximately $1,848,000. Finally, Fifth Third Bancorp raised its stake in shares of ScanSource by 12,457.4% in the 1st quarter. Fifth Third Bancorp now owns 25,617 shares of the industrial products company’s stock valued at $930,000 after acquiring an additional 25,413 shares in the last quarter. 97.91% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of brokerages have issued reports on SCSC. Wall Street Zen raised ScanSource from a “hold” rating to a “buy” rating in a research report on Saturday, August 8th. Weiss Ratings upgraded 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, Based on data from MarketBeat.com, ScanSource has an average rating of “Hold” and a consensus target price of $43.00.

ScanSource Trading Up 0.7%

ScanSource stock opened at $52.33 on Friday. The company has a debt-to-equity ratio of 0.11, a quick ratio of 1.20 and a current ratio of 1.86. The business’s 50-day simple moving average is $52.59 and its 200-day simple moving average is $44.09. The firm has a market capitalization of $1.06 billion, a PE ratio of 15.86, a PEG ratio of 0.81 and a beta of 1.28. ScanSource, Inc. has a 52 week low of $33.76 and a 52 week high of $59.60.

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.