Maryland State Retirement & Pension System Trims Stock Holdings in ScanSource, Inc. $SCSC

Maryland State Retirement & Pension System lowered its position in shares of ScanSource, Inc. (NASDAQ:SCSC) by 14.6% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 6,299 shares of the industrial products company’s stock after selling 1,080 shares during the quarter. Maryland State Retirement & Pension System’s holdings in ScanSource were worth $214,000 at the end of the most recent quarter.

Several other institutional investors also recently modified their holdings of SCSC. Versant Capital Management Inc boosted its stake in ScanSource by 88.4% during the first quarter. Versant Capital Management Inc now owns 863 shares of the industrial products company’s stock worth $29,000 after acquiring an additional 405 shares in the last quarter. Quarry LP boosted its position in shares of ScanSource by 948.7% in the 4th quarter. Quarry LP now owns 797 shares of the industrial products company’s stock worth $38,000 after purchasing an additional 721 shares in the last quarter. GAMMA Investing LLC grew its stake in shares of ScanSource by 25.5% in the 1st quarter. GAMMA Investing LLC now owns 1,944 shares of the industrial products company’s stock worth $66,000 after buying an additional 395 shares during the last quarter. Point72 Asset Management L.P. bought a new position in ScanSource during the 4th quarter valued at approximately $81,000. Finally, Tower Research Capital LLC TRC raised its stake in ScanSource by 42.1% during the fourth quarter. Tower Research Capital LLC TRC now owns 2,862 shares of the industrial products company’s stock valued at $136,000 after buying an additional 848 shares during the last quarter. 97.91% of the stock is currently owned by institutional investors.

ScanSource Trading Up 0.8%

ScanSource stock opened at $43.06 on Wednesday. The company has a current ratio of 2.07, a quick ratio of 1.32 and a debt-to-equity ratio of 0.14. ScanSource, Inc. has a 12-month low of $28.75 and a 12-month high of $53.90. The firm has a 50 day moving average of $41.35 and a 200 day moving average of $38.12. The firm has a market capitalization of $973.16 million, a price-to-earnings ratio of 15.55, a P/E/G ratio of 1.16 and a beta of 1.41.

Insider Activity at ScanSource

In related news, EVP Rachel Hayden sold 6,738 shares of ScanSource stock in a transaction dated Friday, June 20th. The shares were sold at an average price of $41.27, for a total transaction of $278,077.26. Following the completion of the transaction, the executive vice president directly owned 13,174 shares of the company’s stock, valued at approximately $543,690.98. The trade was a 33.84% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 4.20% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts have recently weighed in on SCSC shares. Northcoast Research upgraded ScanSource from a “neutral” rating to a “buy” rating and set a $42.00 price target for the company in a report on Tuesday, May 6th. Wall Street Zen upgraded shares of ScanSource from a “hold” rating to a “buy” rating in a research note on Saturday, July 12th. One equities research analyst has rated the stock with a Buy rating, According to data from MarketBeat.com, the company has an average rating of “Buy” and a consensus target price of $42.00.

About ScanSource

ScanSource, Inc engages in the distribution of technology products and solutions in the United States, Canada, and Brazil. 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.