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

Shares of Climb Global Solutions, Inc. (NASDAQ:CLMB) hit a new 52-week high during mid-day trading on Thursday . The company traded as high as $117.64 and last traded at $117.64, with a volume of 1282 shares traded. The stock had previously closed at $105.58.

Wall Street Analysts Forecast Growth

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

Climb Global Solutions Stock Performance

The company has a market cap of $508.61 million, a P/E ratio of 31.48, a price-to-earnings-growth ratio of 2.82 and a beta of 1.06. The company has a quick ratio of 1.09, a current ratio of 1.10 and a debt-to-equity ratio of 0.01. The company’s 50-day moving average is $97.72 and its two-hundred day moving average is $75.48.

Climb Global Solutions (NASDAQ:CLMB) last posted its quarterly earnings results on Tuesday, August 6th. The company reported $0.83 EPS 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 company had revenue of $92.08 million for the quarter, compared to analysts’ expectations of $97.27 million. Equities analysts predict that Climb Global Solutions, Inc. will post 3.28 EPS for the current year.

Climb Global Solutions Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Thursday, August 22nd. Investors of record on Friday, August 16th were issued a $0.17 dividend. This represents a $0.68 annualized dividend and a yield of 0.62%. The ex-dividend date of this dividend was Friday, August 16th. Climb Global Solutions’s dividend payout ratio (DPR) is currently 18.43%.

Hedge Funds Weigh In On Climb Global Solutions

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Rhumbline Advisers boosted its holdings in Climb Global Solutions by 5.9% in the 2nd quarter. Rhumbline Advisers now owns 4,239 shares of the company’s stock worth $266,000 after buying an additional 237 shares during the period. New York State Teachers Retirement System bought a new position in shares of Climb Global Solutions in the third quarter worth $38,000. Lakewood Asset Management LLC grew its position 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 purchasing an additional 608 shares in the last quarter. Bank of New York Mellon Corp raised its stake in shares of Climb Global Solutions by 2.4% during the 2nd quarter. Bank of New York Mellon Corp now owns 39,954 shares of the company’s stock valued at $2,510,000 after purchasing an additional 919 shares during the period. Finally, Ancora Advisors LLC lifted its holdings in Climb Global Solutions by 4.2% during the 1st quarter. Ancora Advisors LLC now owns 28,101 shares of the company’s stock worth $1,992,000 after purchasing an additional 1,140 shares in the last quarter. Institutional investors 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.