ScanSource (NASDAQ:SCSC) Sets New 52-Week High at $47.57

ScanSource, Inc. (NASDAQ:SCSC)’s stock price reached a new 52-week high during trading on Thursday . The stock traded as high as $47.57 and last traded at $47.54, with a volume of 9273 shares changing hands. The stock had previously closed at $46.59.

ScanSource Stock Performance

The company has a 50-day moving average price of $42.56 and a 200-day moving average price of $38.76. The company has a quick ratio of 1.36, a current ratio of 2.30 and a debt-to-equity ratio of 0.17. The firm has a market capitalization of $1.21 billion, a price-to-earnings ratio of 13.39, a P/E/G ratio of 1.26 and a beta of 1.51.

ScanSource (NASDAQ:SCSC) last released its earnings results on Tuesday, May 7th. The industrial products company reported $0.69 earnings per share for the quarter, missing the consensus estimate of $0.84 by ($0.15). ScanSource had a return on equity of 9.18% and a net margin of 2.45%. The firm had revenue of $752.60 million during the quarter, compared to analysts’ expectations of $822.10 million. During the same period last year, the business earned $0.96 earnings per share. The business’s revenue was down 15.0% on a year-over-year basis. As a group, equities research analysts forecast that ScanSource, Inc. will post 3.39 earnings per share for the current year.

Institutional Investors Weigh In On ScanSource

Hedge funds and other institutional investors have recently made changes to their positions in the business. Gladius Capital Management LP bought a new position in ScanSource in the 3rd quarter valued at $36,000. GAMMA Investing LLC acquired a new stake in shares of ScanSource in the 4th quarter valued at $46,000. SG Americas Securities LLC bought a new stake in shares of ScanSource during the first quarter worth $128,000. Zurcher Kantonalbank Zurich Cantonalbank boosted its holdings in ScanSource by 23.3% in the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 5,473 shares of the industrial products company’s stock valued at $166,000 after acquiring an additional 1,034 shares during the last quarter. Finally, EMC Capital Management increased its position in ScanSource by 3,872.8% in the third quarter. EMC Capital Management now owns 7,151 shares of the industrial products company’s stock worth $217,000 after purchasing an additional 6,971 shares during the period. 97.91% of the stock is owned by institutional investors and hedge funds.

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.