Climb Global Solutions (NASDAQ:CLMB) Given “Outperform” Rating at Barrington Research

Barrington Research reissued their outperform rating on shares of Climb Global Solutions (NASDAQ:CLMB) in a report published on Thursday, Benzinga reports. The firm currently has a $90.00 target price on the stock.

Climb Global Solutions Trading Up 3.2 %

Shares of CLMB opened at $105.69 on Thursday. Climb Global Solutions has a one year low of $40.63 and a one year high of $106.44. The company has a debt-to-equity ratio of 0.01, a quick ratio of 1.09 and a current ratio of 1.10. The company has a market capitalization of $484.59 million, a P/E ratio of 40.97, a P/E/G ratio of 2.89 and a beta of 1.06. The stock has a 50-day moving average price of $91.16 and a 200 day moving average price of $72.18.

Climb Global Solutions (NASDAQ:CLMB) last released its quarterly earnings results on Tuesday, August 6th. The company reported $0.83 earnings per share for the quarter, beating analysts’ consensus estimates of $0.48 by $0.35. The company had revenue of $92.08 million for the quarter, compared to analysts’ expectations of $97.27 million. Climb Global Solutions had a return on equity of 18.92% and a net margin of 3.73%. Sell-side analysts forecast that Climb Global Solutions will post 3.28 EPS for the current fiscal year.

Climb Global Solutions Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, August 22nd. Investors of record on Friday, August 16th were paid a $0.17 dividend. The ex-dividend date was Friday, August 16th. This represents a $0.68 dividend on an annualized basis and a yield of 0.64%. Climb Global Solutions’s payout ratio is presently 26.36%.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in the business. Wasatch Advisors LP grew its holdings in shares of Climb Global Solutions by 41.8% in the 1st quarter. Wasatch Advisors LP now owns 146,298 shares of the company’s stock valued at $10,370,000 after buying an additional 43,095 shares during the period. Janney Montgomery Scott LLC grew its holdings in Climb Global Solutions by 7.5% during the 1st quarter. Janney Montgomery Scott LLC now owns 18,882 shares of the company’s stock worth $1,338,000 after acquiring an additional 1,323 shares during the last quarter. Russell Investments Group Ltd. lifted its stake in shares of Climb Global Solutions by 14.1% in the first quarter. Russell Investments Group Ltd. now owns 9,343 shares of the company’s stock worth $662,000 after acquiring an additional 1,155 shares during the period. Vanguard Group Inc. increased its position 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 worth $15,871,000 after buying an additional 7,447 shares during the period. Finally, Quadrature Capital Ltd grew its stake in Climb Global Solutions by 27.8% during the first quarter. Quadrature Capital Ltd now owns 5,652 shares of the company’s stock worth $400,000 after purchasing an additional 1,228 shares during the period. Institutional investors and hedge funds own 49.72% of the company’s stock.

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.