ScanSource (NASDAQ:SCSC) Hits New 12-Month High – What’s Next?

ScanSource, Inc. (NASDAQ:SCSC)’s share price reached a new 52-week high during trading on Monday . The company traded as high as $55.99 and last traded at $55.85, with a volume of 3476 shares traded. The stock had previously closed at $54.88.

Analysts Set New Price Targets

SCSC has been the topic of a number of analyst reports. Wall Street Zen lowered ScanSource from a “buy” rating to a “hold” rating in a research note on Saturday, July 18th. Zacks Research upgraded ScanSource from a “strong sell” rating to a “hold” rating in a research note on Tuesday, April 7th. Finally, Weiss Ratings raised ScanSource from a “hold (c)” rating to a “hold (c+)” rating in a report on Friday, May 29th. Three equities research analysts have rated the stock with a Hold rating, Based on data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target of $43.00.

ScanSource Stock Up 1.2%

The company has a fifty day moving average price of $49.64 and a 200 day moving average price of $42.63. The company has a market cap of $1.13 billion, a PE ratio of 16.74, a price-to-earnings-growth ratio of 0.85 and a beta of 1.28. The company has a debt-to-equity ratio of 0.11, a current ratio of 1.86 and a quick ratio of 1.20.

ScanSource (NASDAQ:SCSC) last announced its quarterly earnings data on Thursday, May 7th. The industrial products company reported $0.94 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.91 by $0.03. The company had revenue of $758.59 million during the quarter, compared to analysts’ expectations of $738.55 million. ScanSource had a net margin of 2.38% and a return on equity of 9.35%. The firm’s revenue was up 8.8% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.86 EPS. As a group, analysts anticipate that ScanSource, Inc. will post 3.9 EPS for the current year.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the stock. Amundi boosted its holdings in ScanSource by 35.1% during the 1st quarter. Amundi now owns 26,464 shares of the industrial products company’s stock valued at $836,000 after acquiring an additional 6,880 shares during the period. AQR Capital Management LLC increased its stake in ScanSource by 3.8% in the 1st quarter. AQR Capital Management LLC now owns 128,574 shares of the industrial products company’s stock worth $4,373,000 after purchasing an additional 4,693 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its stake in ScanSource by 2.2% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 13,859 shares of the industrial products company’s stock worth $471,000 after purchasing an additional 295 shares during the period. Millennium Management LLC lifted its position in ScanSource by 8.4% in the first quarter. Millennium Management LLC now owns 259,808 shares of the industrial products company’s stock valued at $8,836,000 after purchasing an additional 20,086 shares during the last quarter. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its position in ScanSource by 35.3% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 61,513 shares of the industrial products company’s stock valued at $2,092,000 after purchasing an additional 16,044 shares during the last quarter. Hedge funds and other institutional investors own 97.91% of the company’s stock.

About ScanSource

ScanSource, Inc is a global provider of technology products and solutions designed to help businesses enhance operational efficiency and customer engagement. The company specializes in the distribution of point-of-sale (POS) systems, barcode and data capture devices, networking and communications equipment, and value-added software and cloud services. By combining hardware, software and professional services, ScanSource supports channel partners in delivering end-to-end solutions across multiple industries, including retail, hospitality, healthcare and logistics.

Founded in 1992 and headquartered in Greenville, South Carolina, ScanSource has built a broad international footprint, serving customers throughout North, Central and South America as well as Europe, the Middle East and Africa.