ScanSource (NASDAQ:SCSC) Shares Gap Down to $44.03

ScanSource, Inc. (NASDAQ:SCSC) shares gapped down before the market opened on Tuesday . The stock had previously closed at $44.03, but opened at $39.66. ScanSource shares last traded at $45.01, with a volume of 33,379 shares.

ScanSource Price Performance

The stock has a 50 day moving average price of $42.43 and a two-hundred day moving average price of $38.61. 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 company has a market capitalization of $1.13 billion, a PE ratio of 12.65, a P/E/G ratio of 1.26 and a beta of 1.51.

ScanSource (NASDAQ:SCSC) last issued its quarterly earnings data on Tuesday, February 6th. The industrial products company reported $0.85 earnings per share for the quarter, missing analysts’ consensus estimates of $0.99 by ($0.14). ScanSource had a net margin of 2.45% and a return on equity of 9.18%. 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 business posted $1.06 earnings per share. The firm’s revenue was down 12.5% on a year-over-year basis. Equities analysts forecast that ScanSource, Inc. will post 3.39 earnings per share for the current year.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in SCSC. Bailard Inc. bought a new position in ScanSource in the 3rd quarter worth approximately $215,000. Zurcher Kantonalbank Zurich Cantonalbank grew its holdings in shares of ScanSource by 23.3% during the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 5,473 shares of the industrial products company’s stock worth $166,000 after purchasing an additional 1,034 shares in the last quarter. Mackenzie Financial Corp grew its holdings in shares of ScanSource by 45.9% during the 3rd quarter. Mackenzie Financial Corp now owns 11,138 shares of the industrial products company’s stock worth $340,000 after purchasing an additional 3,506 shares in the last quarter. Teacher Retirement System of Texas grew its holdings in shares of ScanSource by 65.5% during the 3rd quarter. Teacher Retirement System of Texas now owns 19,690 shares of the industrial products company’s stock worth $597,000 after purchasing an additional 7,796 shares in the last quarter. Finally, Assenagon Asset Management S.A. grew its holdings in shares of ScanSource by 90.9% during the 3rd quarter. Assenagon Asset Management S.A. now owns 242,619 shares of the industrial products company’s stock worth $7,354,000 after purchasing an additional 115,495 shares in the last quarter. 97.91% of the stock is owned by institutional investors.

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.