Climb Global Solutions (NASDAQ:CLMB) Reaches 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 Trading of Climb Global Solutions

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in CLMB. Vanguard Group Inc. boosted its stake in shares of Climb Global Solutions by 3.4% during the first quarter. Vanguard Group Inc. now owns 223,907 shares of the company’s stock valued at $15,871,000 after purchasing an additional 7,447 shares in the last quarter. Choreo LLC purchased a new position in Climb Global Solutions during the second quarter valued at $4,491,000. Pinnacle Associates Ltd. boosted its holdings in shares of Climb Global Solutions by 66.8% in the third quarter. Pinnacle Associates Ltd. now owns 18,221 shares of the company’s stock valued at $1,814,000 after purchasing an additional 7,298 shares during the period. SG Americas Securities LLC purchased a new stake in Climb Global Solutions in the third quarter valued at $159,000. Finally, Lazard Asset Management LLC raised its holdings in Climb Global Solutions by 82.1% in 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 last quarter. 49.72% of the stock is currently owned by institutional investors and hedge funds.

Climb Global Solutions Stock Up 0.9 %

The business’s 50-day moving average is $100.90 and its two-hundred day moving average is $78.15. The stock has a market capitalization of $558.18 million, a PE ratio of 33.06, a PEG ratio of 3.30 and a beta of 1.06.

Climb Global Solutions Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, November 15th. Shareholders of record on Monday, November 11th will be paid a $0.17 dividend. 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 dividend payout ratio (DPR) is presently 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.