New York State Teachers Retirement System decreased its stake in shares of ScanSource, Inc. (NASDAQ:SCSC – Free Report) by 1.3% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 53,397 shares of the industrial products company’s stock after selling 708 shares during the quarter. New York State Teachers Retirement System owned approximately 0.21% of ScanSource worth $2,115,000 as of its most recent SEC filing.
Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Point72 Hong Kong Ltd bought a new stake in ScanSource during the 2nd quarter valued at about $27,000. Gladius Capital Management LP bought a new stake in ScanSource during the 3rd quarter valued at about $36,000. Tower Research Capital LLC TRC lifted its holdings in ScanSource by 108.3% during the 1st quarter. Tower Research Capital LLC TRC now owns 1,356 shares of the industrial products company’s stock valued at $42,000 after buying an additional 705 shares in the last quarter. UBS Group AG lifted its holdings in ScanSource by 1,200.6% during the 3rd quarter. UBS Group AG now owns 2,055 shares of the industrial products company’s stock valued at $54,000 after buying an additional 1,897 shares in the last quarter. Finally, Royal Bank of Canada lifted its holdings in ScanSource by 80.7% during the 2nd quarter. Royal Bank of Canada now owns 2,902 shares of the industrial products company’s stock valued at $86,000 after buying an additional 1,296 shares in the last quarter. Institutional investors own 97.91% of the company’s stock.
ScanSource Trading Down 0.5 %
NASDAQ SCSC opened at $40.37 on Wednesday. The company has a debt-to-equity ratio of 0.17, a quick ratio of 1.36 and a current ratio of 2.30. The company has a market capitalization of $1.02 billion, a price-to-earnings ratio of 11.60, a price-to-earnings-growth ratio of 1.20 and a beta of 1.51. The company’s 50-day simple moving average is $42.12 and its two-hundred day simple moving average is $37.60. ScanSource, Inc. has a one year low of $26.14 and a one year high of $45.10.
Wall Street Analysts Forecast Growth
A number of research firms have commented on SCSC. StockNews.com downgraded shares of ScanSource from a “buy” rating to a “hold” rating in a research report on Wednesday, December 20th. Northcoast Research downgraded shares of ScanSource from a “buy” rating to a “neutral” rating and set a $36.00 target price on the stock. in a research report on Tuesday, December 19th.
Get Our Latest Stock Report on ScanSource
ScanSource Profile
ScanSource, Inc distributes technology products and solutions in the United States, Canada, and internationally. It operates through two segments, Specialty Technology Solutions and Modern Communications & Cloud. The Specialty Technology Solutions segment provides a portfolio of solutions primarily for enterprise mobile computing, data capture, barcode printing, point of sale (POS), payments, networking, electronic physical security, cyber security, and other technologies.
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