Renaissance Technologies LLC Invests $766,000 in ScanSource, Inc. $SCSC

Renaissance Technologies LLC purchased a new position in ScanSource, Inc. (NASDAQ:SCSC) during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm purchased 21,110 shares of the industrial products company’s stock, valued at approximately $766,000. Renaissance Technologies LLC owned 0.10% of ScanSource at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in SCSC. Aristides Capital LLC purchased a new stake in ScanSource in the 1st quarter valued at about $251,000. Inceptionr LLC purchased a new position in shares of ScanSource during the first quarter worth approximately $267,000. Sei Investments Co. increased its position in shares of ScanSource by 130.8% during the first quarter. Sei Investments Co. now owns 19,765 shares of the industrial products company’s stock worth $717,000 after acquiring an additional 11,203 shares during the period. First Trust Advisors LP raised its stake in shares of ScanSource by 42.3% during the first quarter. First Trust Advisors LP now owns 10,595 shares of the industrial products company’s stock valued at $385,000 after acquiring an additional 3,147 shares in the last quarter. Finally, Meeder Asset Management Inc. bought a new stake in shares of ScanSource during the first quarter valued at approximately $1,848,000. Institutional investors own 97.91% of the company’s stock.

ScanSource Stock Up 1.6%

Shares of ScanSource stock opened at $53.19 on Friday. The company has a debt-to-equity ratio of 0.11, a current ratio of 1.86 and a quick ratio of 1.20. The stock has a market cap of $1.08 billion, a price-to-earnings ratio of 16.12, a PEG ratio of 0.83 and a beta of 1.28. The firm’s 50-day moving average is $52.72 and its two-hundred day moving average is $44.16. ScanSource, Inc. has a 1 year low of $33.76 and a 1 year high of $59.60.

Analyst Upgrades and Downgrades

Several research analysts recently issued reports on SCSC shares. Wall Street Zen raised ScanSource from a “hold” rating to a “buy” rating in a research note on Saturday, August 8th. Weiss Ratings raised ScanSource from a “hold (c)” rating to a “hold (c+)” rating in a research report on Friday, May 29th. Three analysts have rated the stock with a Hold rating, According to data from MarketBeat.com, the company currently has an average rating of “Hold” and an average target price of $43.00.

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.