Climb Global Solutions (NASDAQ:CLMB) Sets New 12-Month High Following Analyst Upgrade

Climb Global Solutions, Inc. (NASDAQ:CLMB) reached a new 52-week high on Tuesday after Barrington Research raised their price target on the stock from $90.00 to $136.00. Barrington Research currently has an outperform rating on the stock. Climb Global Solutions traded as high as $124.23 and last traded at $124.23, with a volume of 7609 shares traded. The stock had previously closed at $120.13.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in CLMB. New York State Teachers Retirement System bought a new position in Climb Global Solutions during the third quarter valued at $38,000. SG Americas Securities LLC bought a new stake in Climb Global Solutions during the 3rd quarter valued at $159,000. Lazard Asset Management LLC lifted its holdings in shares of Climb Global Solutions by 82.1% in the 1st quarter. Lazard Asset Management LLC now owns 2,925 shares of the company’s stock worth $207,000 after buying an additional 1,319 shares during the period. Navellier & Associates Inc. bought a new position in shares of Climb Global Solutions during the 3rd quarter worth $322,000. Finally, Rhumbline Advisers increased its stake in shares of Climb Global Solutions by 5.9% during the second quarter. Rhumbline Advisers now owns 4,239 shares of the company’s stock valued at $266,000 after buying an additional 237 shares during the period. Institutional investors own 49.72% of the company’s stock.

Climb Global Solutions Price Performance

The firm has a fifty day moving average of $101.52 and a two-hundred day moving average of $78.53. The stock has a market capitalization of $558.18 million, a P/E ratio of 32.83, a P/E/G ratio of 3.30 and a beta of 1.06.

Climb Global Solutions Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, November 15th. Investors of record on Monday, November 11th will be given a dividend of $0.17 per share. This represents a $0.68 dividend on an annualized basis and a yield of 0.56%. The ex-dividend date is Friday, November 8th. Climb Global Solutions’s payout ratio is currently 18.43%.

About Climb Global Solutions

Climb Global Solutions Inc operates as a value-added information technology (IT) distribution and solutions company in the United States, Canada, Europe, the United Kingdom, and internationally. It operates in two segments, Distribution and Solutions. The company distributes technical software to corporate and value-added resellers, consultants, and systems integrators under the name Climb Channel Solutions; and provides cloud solutions and resells software, hardware, and services under the name Grey Matter.