Crossmark Global Holdings Inc. increased its holdings in shares of ScanSource, Inc. (NASDAQ:SCSC) by 19.3% during the fourth quarter, HoldingsChannel.com reports. The fund owned 14,562 shares of the industrial products company’s stock after buying an additional 2,356 shares during the period. Crossmark Global Holdings Inc.’s holdings in ScanSource were worth $521,000 at the end of the most recent reporting period.
Other hedge funds have also made changes to their positions in the company. Cubist Systematic Strategies LLC acquired a new position in ScanSource during the third quarter worth $202,000. Piedmont Investment Advisors LLC acquired a new position in ScanSource during the second quarter worth $221,000. Palouse Capital Management Inc. acquired a new position in ScanSource during the third quarter worth $226,000. Victory Capital Management Inc. grew its holdings in ScanSource by 94.5% during the third quarter. Victory Capital Management Inc. now owns 5,785 shares of the industrial products company’s stock worth $253,000 after acquiring an additional 2,811 shares during the period. Finally, SG Americas Securities LLC grew its holdings in ScanSource by 26.5% during the third quarter. SG Americas Securities LLC now owns 6,030 shares of the industrial products company’s stock worth $263,000 after acquiring an additional 1,262 shares during the period. 93.06% of the stock is currently owned by hedge funds and other institutional investors.
Shares of ScanSource, Inc. (NASDAQ SCSC) opened at $32.95 on Wednesday. The company has a current ratio of 2.15, a quick ratio of 1.26 and a debt-to-equity ratio of 0.42. The company has a market capitalization of $840.21, a price-to-earnings ratio of 16.81, a price-to-earnings-growth ratio of 3.49 and a beta of 1.06. ScanSource, Inc. has a 12-month low of $31.40 and a 12-month high of $45.35.
A number of brokerages recently weighed in on SCSC. ValuEngine lowered ScanSource from a “buy” rating to a “hold” rating in a report on Friday, February 2nd. BidaskClub downgraded ScanSource from a “sell” rating to a “strong sell” rating in a research report on Wednesday, January 10th. Zacks Investment Research upgraded ScanSource from a “sell” rating to a “hold” rating in a research report on Wednesday, January 10th. Finally, TheStreet downgraded ScanSource from a “b” rating to a “c+” rating in a research report on Wednesday, November 8th. One research analyst has rated the stock with a sell rating and three have given a hold rating to the company. The company has a consensus rating of “Hold” and an average target price of $38.00.
ScanSource Company Profile
ScanSource, Inc is a provider of technology products and solutions. The Company and its subsidiaries provide solutions for technology manufacturers and sell to resellers in technology markets, such as point-of-sale (POS) and Barcode, Networking and Security, Communications and Emerging Technologies. It operates through two segments: Worldwide Barcode & Security and Worldwide Communications & Services.
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