Climb Global Solutions (NASDAQ:CLMB) Hits New 1-Year High on Analyst Upgrade

Climb Global Solutions, Inc. (NASDAQ:CLMB) hit 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. The stock had previously closed at $120.13.

Institutional Trading of Climb Global Solutions

A number of institutional investors and hedge funds have recently added to or reduced their stakes in CLMB. Navellier & Associates Inc. purchased a new position in shares of Climb Global Solutions during the third quarter worth $322,000. Foundry Partners LLC grew its position in Climb Global Solutions by 0.9% during the 3rd quarter. Foundry Partners LLC now owns 35,675 shares of the company’s stock worth $3,551,000 after purchasing an additional 330 shares during the period. Royce & Associates LP grew its position in Climb Global Solutions by 314.5% during the 3rd quarter. Royce & Associates LP now owns 35,919 shares of the company’s stock worth $3,575,000 after purchasing an additional 27,254 shares during the period. Janney Montgomery Scott LLC raised its stake in shares of Climb Global Solutions by 17.7% during the 3rd quarter. Janney Montgomery Scott LLC now owns 23,030 shares of the company’s stock valued at $2,292,000 after buying an additional 3,463 shares during the last quarter. Finally, Pinnacle Associates Ltd. lifted its holdings in shares of Climb Global Solutions by 66.8% in the 3rd quarter. Pinnacle Associates Ltd. now owns 18,221 shares of the company’s stock valued at $1,814,000 after buying an additional 7,298 shares during the period. Institutional investors and hedge funds own 49.72% of the company’s stock.

Climb Global Solutions Stock Up 0.9 %

The stock has a market cap of $558.18 million, a PE ratio of 32.83, a P/E/G ratio of 3.30 and a beta of 1.06. The business has a 50 day moving average price of $101.52 and a 200 day moving average price of $78.53.

Climb Global Solutions Announces Dividend

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