Climb Global Solutions (NASDAQ:CLMB) Reaches New 1-Year High on 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 trading hands. The stock had previously closed at $120.13.

Institutional Investors Weigh In On Climb Global Solutions

A number of hedge funds have recently made changes to their positions in the business. Vanguard Group Inc. lifted its holdings in Climb Global Solutions by 3.4% in the first quarter. Vanguard Group Inc. now owns 223,907 shares of the company’s stock valued at $15,871,000 after buying an additional 7,447 shares during the period. Choreo LLC bought a new position in Climb Global Solutions during the second quarter worth about $4,491,000. Pinnacle Associates Ltd. raised its stake in shares of Climb Global Solutions by 66.8% during the third quarter. Pinnacle Associates Ltd. now owns 18,221 shares of the company’s stock worth $1,814,000 after acquiring an additional 7,298 shares in the last quarter. SG Americas Securities LLC bought a new stake in shares of Climb Global Solutions during the 3rd quarter valued at $159,000. Finally, Lazard Asset Management LLC grew its stake in shares of Climb Global Solutions by 82.1% during the 1st quarter. Lazard Asset Management LLC now owns 2,925 shares of the company’s stock valued at $207,000 after acquiring an additional 1,319 shares during the period. Institutional investors own 49.72% of the company’s stock.

Climb Global Solutions Stock Performance

The company has a fifty day moving average of $100.90 and a two-hundred day moving average of $78.15. The company has a market cap of $558.18 million, a PE ratio of 33.06, a price-to-earnings-growth ratio of 3.30 and a beta of 1.06.

Climb Global Solutions Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, November 15th. Investors of record on Monday, November 11th will be issued a $0.17 dividend. This represents a $0.68 annualized dividend and a yield of 0.56%. The ex-dividend date of this dividend is Friday, November 8th. Climb Global Solutions’s dividend payout ratio (DPR) is presently 18.43%.

Climb Global Solutions Company Profile

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.