ScanSource (NASDAQ:SCSC) Stock Price Up 7.7%

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

ScanSource Price 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 company has a 50-day moving average price of $42.37 and a two-hundred day moving average price of $38.01. The company has a market cap of $1.05 billion, a PE ratio of 12.14, a P/E/G ratio of 1.31 and a beta of 1.51.

ScanSource (NASDAQ:SCSC) last released 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 return on equity of 9.18% and a net margin of 2.45%. The company had revenue of $884.79 million during the quarter, compared to the consensus estimate of $943.10 million. During the same period in the previous year, the firm posted $1.06 EPS. ScanSource’s revenue for the quarter was down 12.5% on a year-over-year basis. Sell-side analysts expect that ScanSource, Inc. will post 3.39 earnings per share for the current fiscal year.

Hedge Funds Weigh In On ScanSource

Several large investors have recently added to or reduced their stakes in SCSC. Gladius Capital Management LP bought a new stake in ScanSource during the third quarter valued at $36,000. GAMMA Investing LLC bought a new stake in shares of ScanSource in the 4th quarter worth approximately $46,000. Zurcher Kantonalbank Zurich Cantonalbank boosted its position in ScanSource by 23.3% during the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 5,473 shares of the industrial products company’s stock valued at $166,000 after purchasing an additional 1,034 shares during the period. Bailard Inc. bought a new position in ScanSource during the 3rd quarter worth $215,000. Finally, EMC Capital Management grew its stake in ScanSource by 3,872.8% during the 3rd quarter. EMC Capital Management now owns 7,151 shares of the industrial products company’s stock worth $217,000 after buying an additional 6,971 shares during the last quarter. 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.