ScanSource (NASDAQ:SCSC) Stock Price Up 7.7%

Shares of ScanSource, Inc. (NASDAQ:SCSC - Get Free Report) traded up 7.7% during mid-day trading on Tuesday . The company traded as high as $44.78 and last traded at $44.69. 161,357 shares traded hands during trading, a decline of 21% from the average session volume of 203,022 shares. The stock had previously closed at $41.48.

ScanSource Stock Up 7.2 %

The company has a market cap of $1.12 billion, a PE ratio of 12.77, a P/E/G ratio of 1.22 and a beta of 1.51. The business has a 50-day simple moving average of $42.26 and a 200-day simple moving average of $37.88. The company has a quick ratio of 1.36, a current ratio of 2.30 and a debt-to-equity ratio of 0.17.

ScanSource (NASDAQ:SCSC - Get Free Report) last issued its quarterly earnings results on Tuesday, February 6th. The industrial products company reported $0.85 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.99 by ($0.14). The business had revenue of $884.79 million for the quarter, compared to analysts' expectations of $943.10 million. ScanSource had a return on equity of 9.18% and a net margin of 2.45%. The business's revenue for the quarter was down 12.5% compared to the same quarter last year. During the same quarter in the prior year, the company posted $1.06 EPS. Equities research analysts anticipate that ScanSource, Inc. will post 3.39 EPS for the current year.

Hedge Funds Weigh In On ScanSource

A number of hedge funds have recently bought and sold shares of the business. Wasatch Advisors LP raised its holdings in shares of ScanSource by 67.9% during the first quarter. Wasatch Advisors LP now owns 1,055,882 shares of the industrial products company's stock valued at $46,501,000 after acquiring an additional 426,945 shares during the last quarter. Allspring Global Investments Holdings LLC raised its holdings in shares of ScanSource by 2,564.5% during the first quarter. Allspring Global Investments Holdings LLC now owns 7,514 shares of the industrial products company's stock valued at $331,000 after acquiring an additional 7,232 shares during the last quarter. Sollinda Capital Management LLC acquired a new position in shares of ScanSource during the fourth quarter valued at approximately $277,000. Campbell & CO Investment Adviser LLC raised its holdings in shares of ScanSource by 0.9% during the fourth quarter. Campbell & CO Investment Adviser LLC now owns 44,389 shares of the industrial products company's stock valued at $1,758,000 after acquiring an additional 415 shares during the last quarter. Finally, Allianz Asset Management GmbH acquired a new position in shares of ScanSource during the fourth quarter valued at approximately $1,419,000. Hedge funds and other institutional investors own 97.91% of the company's stock.

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.