Climb Global Solutions (NASDAQ:CLMB) Reaches New 52-Week High Following Analyst Upgrade

Climb Global Solutions, Inc. (NASDAQ:CLMB)’s stock price reached a new 52-week high during trading 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

Several hedge funds have recently modified their holdings of CLMB. Choreo LLC acquired a new stake in shares of Climb Global Solutions in the second quarter valued at $4,491,000. Royce & Associates LP raised its stake in shares of Climb Global Solutions by 314.5% in the third quarter. Royce & Associates LP now owns 35,919 shares of the company’s stock valued at $3,575,000 after acquiring an additional 27,254 shares in the last quarter. Vanguard Group Inc. raised its stake in shares of 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 acquiring an additional 7,447 shares in the last quarter. Pinnacle Associates Ltd. raised its stake 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 acquiring an additional 7,298 shares in the last quarter. Finally, Janney Montgomery Scott LLC raised its stake in shares of Climb Global Solutions by 17.7% in the third quarter. Janney Montgomery Scott LLC now owns 23,030 shares of the company’s stock valued at $2,292,000 after acquiring an additional 3,463 shares in the last quarter. 49.72% of the stock is currently owned by institutional investors and hedge funds.

Climb Global Solutions Price Performance

The firm has a market capitalization of $560.44 million, a price-to-earnings ratio of 32.95, a PEG ratio of 3.36 and a beta of 1.06. The firm has a 50 day moving average price of $102.10 and a 200-day moving average price of $78.83.

Climb Global Solutions Dividend Announcement

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 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 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.