Climb Global Solutions (NASDAQ:CLMB) Sets New 12-Month High – Still a Buy?

Climb Global Solutions, Inc. (NASDAQ:CLMB)’s stock price reached a new 52-week high during mid-day trading on Wednesday . The company traded as high as $109.68 and last traded at $109.68, with a volume of 891 shares changing hands. The stock had previously closed at $107.71.

Wall Street Analyst Weigh In

Separately, Barrington Research restated an “outperform” rating and issued a $90.00 price target on shares of Climb Global Solutions in a report on Thursday, October 10th.

Climb Global Solutions Stock Performance

The stock has a market cap of $495.59 million, a P/E ratio of 41.90, a price-to-earnings-growth ratio of 2.89 and a beta of 1.06. The company has a debt-to-equity ratio of 0.01, a current ratio of 1.10 and a quick ratio of 1.09. The stock’s 50 day simple moving average is $94.13 and its two-hundred day simple moving average is $73.19.

Climb Global Solutions (NASDAQ:CLMB) last announced its earnings results on Tuesday, August 6th. The company reported $0.83 earnings per share for the quarter, topping analysts’ consensus estimates of $0.48 by $0.35. Climb Global Solutions had a net margin of 3.73% and a return on equity of 18.92%. The firm had revenue of $92.08 million during the quarter, compared to analyst estimates of $97.27 million. As a group, research analysts forecast that Climb Global Solutions, Inc. will post 3.28 EPS for the current year.

Climb Global Solutions Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, August 22nd. Shareholders of record on Friday, August 16th were paid a $0.17 dividend. This represents a $0.68 annualized dividend and a yield of 0.63%. The ex-dividend date was Friday, August 16th. Climb Global Solutions’s payout ratio is 26.36%.

Hedge Funds Weigh In On Climb Global Solutions

Several hedge funds have recently made changes to their positions in the business. Rhumbline Advisers boosted its holdings in shares of Climb Global Solutions by 5.9% in the 2nd quarter. Rhumbline Advisers now owns 4,239 shares of the company’s stock valued at $266,000 after buying an additional 237 shares during the last quarter. Lakewood Asset Management LLC grew its stake in shares of Climb Global Solutions by 6.6% in the third quarter. Lakewood Asset Management LLC now owns 9,862 shares of the company’s stock valued at $982,000 after acquiring an additional 608 shares in the last quarter. Bank of New York Mellon Corp boosted its stake in shares of Climb Global Solutions by 2.4% in the second quarter. Bank of New York Mellon Corp now owns 39,954 shares of the company’s stock valued at $2,510,000 after buying an additional 919 shares during the period. Ancora Advisors LLC boosted its position in Climb Global Solutions by 4.2% in the first quarter. Ancora Advisors LLC now owns 28,101 shares of the company’s stock valued at $1,992,000 after buying an additional 1,140 shares in the last quarter. Finally, Russell Investments Group Ltd. increased its position in Climb Global Solutions by 14.1% in the 1st quarter. Russell Investments Group Ltd. now owns 9,343 shares of the company’s stock valued at $662,000 after acquiring an additional 1,155 shares during the period. 49.72% of the stock is owned by institutional investors.

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.