7,596 Shares in ScanSource, Inc. (NASDAQ:SCSC) Purchased by Summit Global Investments

Summit Global Investments purchased a new stake in shares of ScanSource, Inc. (NASDAQ:SCSC) in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 7,596 shares of the industrial products company’s stock, valued at approximately $301,000.

A number of other hedge funds have also recently bought and sold shares of SCSC. Bailard Inc. acquired a new position in shares of ScanSource during the 3rd quarter worth about $215,000. Zurcher Kantonalbank Zurich Cantonalbank increased its position in ScanSource by 23.3% during the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 5,473 shares of the industrial products company’s stock worth $166,000 after buying an additional 1,034 shares during the last quarter. Mackenzie Financial Corp raised its stake in ScanSource by 45.9% in the third quarter. Mackenzie Financial Corp now owns 11,138 shares of the industrial products company’s stock valued at $340,000 after buying an additional 3,506 shares during the period. Teacher Retirement System of Texas raised its stake in ScanSource by 65.5% in the third quarter. Teacher Retirement System of Texas now owns 19,690 shares of the industrial products company’s stock valued at $597,000 after buying an additional 7,796 shares during the period. Finally, Assenagon Asset Management S.A. lifted its position in shares of ScanSource by 90.9% in the third quarter. Assenagon Asset Management S.A. now owns 242,619 shares of the industrial products company’s stock valued at $7,354,000 after buying an additional 115,495 shares during the last quarter. 97.91% of the stock is currently owned by institutional investors.

ScanSource Stock Up 2.7 %

SCSC stock opened at $44.03 on Tuesday. ScanSource, Inc. has a 1-year low of $26.18 and a 1-year high of $45.10. The business’s 50 day simple moving average is $42.43 and its 200 day simple moving average is $38.61. 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 firm has a market capitalization of $1.11 billion, a PE ratio of 12.65, a PEG ratio of 1.26 and a beta of 1.51.

ScanSource (NASDAQ:SCSC) last released its quarterly earnings data 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). The company had revenue of $884.79 million for the quarter, compared to the consensus estimate of $943.10 million. ScanSource had a return on equity of 9.18% and a net margin of 2.45%. The company’s revenue for the quarter was down 12.5% compared to the same quarter last year. During the same period last year, the firm earned $1.06 earnings per share. As a group, research analysts anticipate that ScanSource, Inc. will post 3.39 EPS for the current year.

About ScanSource

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.