ScanSource (NASDAQ:SCSC) Trading Up 7.7%

Shares of ScanSource, Inc. (NASDAQ:SCSC) shot up 7.7% on Tuesday . The stock traded as high as $44.78 and last traded at $44.69. 161,357 shares were traded 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 company has a debt-to-equity ratio of 0.17, a current ratio of 2.30 and a quick ratio of 1.36. The stock has a market capitalization of $1.12 billion, a PE ratio of 11.92, a P/E/G ratio of 1.22 and a beta of 1.51. The stock has a 50 day moving average of $42.26 and a two-hundred day moving average of $37.88.

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

Hedge Funds Weigh In On ScanSource

Institutional investors have recently made changes to their positions in the business. Charles Schwab Investment Management Inc. lifted its holdings in ScanSource by 3.9% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 620,761 shares of the industrial products company’s stock worth $18,815,000 after buying an additional 23,343 shares in the last quarter. Campbell & CO Investment Adviser LLC boosted its stake in shares of ScanSource by 53.7% during the 3rd quarter. Campbell & CO Investment Adviser LLC now owns 43,974 shares of the industrial products company’s stock worth $1,333,000 after buying an additional 15,372 shares during the last quarter. Connor Clark & Lunn Investment Management Ltd. lifted its stake in ScanSource by 43.4% in the 3rd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 53,052 shares of the industrial products company’s stock valued at $1,608,000 after purchasing an additional 16,064 shares during the last quarter. First Hawaiian Bank lifted its stake in ScanSource by 13.7% in the 4th quarter. First Hawaiian Bank now owns 21,321 shares of the industrial products company’s stock valued at $845,000 after purchasing an additional 2,574 shares during the last quarter. Finally, Raymond James & Associates acquired a new stake in ScanSource in the 4th quarter valued at about $1,748,000. 97.91% of the stock is currently owned by institutional investors.

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.