ScanSource (NASDAQ:SCSC) Shares Up 7.7%

ScanSource, Inc. (NASDAQ:SCSC) shares traded up 7.7% during trading on Tuesday . The company traded as high as $44.78 and last traded at $44.69. 161,357 shares changed hands during mid-day trading, a decline of 21% from the average session volume of 203,022 shares. The stock had previously closed at $41.48.

ScanSource Stock Performance

The stock’s 50 day moving average is $42.26 and its two-hundred day moving average is $37.88. The company has a current ratio of 2.30, a quick ratio of 1.36 and a debt-to-equity ratio of 0.17. The stock has a market capitalization of $1.12 billion, a price-to-earnings ratio of 11.92, a price-to-earnings-growth ratio of 1.22 and a beta of 1.51.

ScanSource (NASDAQ:SCSC) last issued its quarterly earnings results on Tuesday, February 6th. The industrial products company reported $0.85 EPS for the quarter, missing analysts’ consensus estimates of $0.99 by ($0.14). ScanSource had a return on equity of 9.18% and a net margin of 2.45%. The business had revenue of $884.79 million for the quarter, compared to analyst estimates of $943.10 million. During the same quarter last year, the firm posted $1.06 EPS. ScanSource’s revenue for the quarter was down 12.5% on a year-over-year basis. Analysts expect that ScanSource, Inc. will post 3.39 earnings per share for the current fiscal year.

Hedge Funds Weigh In On ScanSource

A number of institutional investors have recently made changes to their positions in the stock. Dimensional Fund Advisors LP lifted its position in ScanSource by 1.5% during the 4th quarter. Dimensional Fund Advisors LP now owns 1,934,258 shares of the industrial products company’s stock valued at $76,616,000 after acquiring an additional 27,751 shares during the period. Pzena Investment Management LLC raised its stake in ScanSource by 4.9% during the fourth quarter. Pzena Investment Management LLC now owns 1,893,151 shares of the industrial products company’s stock valued at $74,988,000 after purchasing an additional 89,103 shares in the last quarter. Wasatch Advisors LP raised its stake in shares of ScanSource by 67.9% in the first quarter. Wasatch Advisors LP now owns 1,055,882 shares of the industrial products company’s stock valued at $46,501,000 after acquiring an additional 426,945 shares during the period. Invesco Ltd. raised its stake in shares of ScanSource by 3.8% in the third quarter. Invesco Ltd. now owns 646,495 shares of the industrial products company’s stock valued at $19,595,000 after acquiring an additional 23,807 shares during the period. Finally, Charles Schwab Investment Management Inc. grew its holdings in shares of ScanSource by 1.1% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 627,886 shares of the industrial products company’s stock worth $24,871,000 after purchasing an additional 7,125 shares during the last quarter. Institutional investors own 97.91% of the company’s stock.

ScanSource Company 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.