Summit Global Investments Invests $301,000 in ScanSource, Inc. (NASDAQ:SCSC)

Summit Global Investments purchased a new position in ScanSource, Inc. (NASDAQ:SCSC) in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund purchased 7,596 shares of the industrial products company’s stock, valued at approximately $301,000.

Several other institutional investors have also recently added to or reduced their stakes in SCSC. Pacer Advisors Inc. bought a new position in shares of ScanSource in the 4th quarter worth about $23,236,000. Pzena Investment Management LLC boosted its stake in ScanSource by 7.2% in the third quarter. Pzena Investment Management LLC now owns 1,804,048 shares of the industrial products company’s stock valued at $54,681,000 after acquiring an additional 120,721 shares during the period. Assenagon Asset Management S.A. boosted its stake in 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 acquiring an additional 115,495 shares during the period. Raymond James & Associates bought a new position in shares of ScanSource during the fourth quarter valued at approximately $1,748,000. Finally, Invesco Ltd. raised its position in shares of ScanSource by 3.8% during the 3rd quarter. Invesco Ltd. now owns 646,495 shares of the industrial products company’s stock worth $19,595,000 after purchasing an additional 23,807 shares during the period. 97.91% of the stock is owned by institutional investors and hedge funds.

ScanSource Stock Performance

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 stock has a market capitalization of $1.11 billion, a price-to-earnings ratio of 12.65, a PEG ratio of 1.26 and a beta of 1.51. The company has a debt-to-equity ratio of 0.17, a quick ratio of 1.36 and a current ratio of 2.30. The stock’s fifty day moving average is $42.43 and its two-hundred day moving average is $38.61.

ScanSource (NASDAQ:SCSC) last announced its earnings results on Tuesday, February 6th. The industrial products company reported $0.85 earnings per share 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 for the quarter, compared to the consensus estimate of $943.10 million. During the same period in the previous year, the firm earned $1.06 EPS. The firm’s revenue was down 12.5% on a year-over-year basis. On average, research analysts predict that ScanSource, Inc. will post 3.39 EPS for the current year.

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.