Climb Global Solutions (NASDAQ:CLMB) Sets New 52-Week High - Still a Buy?

Climb Global Solutions, Inc. (NASDAQ:CLMB - Get Free Report)'s stock price hit a new 52-week high during mid-day trading on Friday . The company traded as high as $145.00 and last traded at $133.99, with a volume of 138867 shares trading hands. The stock had previously closed at $118.81.

Wall Street Analyst Weigh In

Separately, Barrington Research reiterated an "outperform" rating and set a $136.00 target price on shares of Climb Global Solutions in a research note on Thursday.

Climb Global Solutions Price Performance

The stock's 50 day simple moving average is $126.73 and its two-hundred day simple moving average is $116.63. The stock has a market capitalization of $569.19 million, a PE ratio of 33.48, a PEG ratio of 1.74 and a beta of 1.18.

Climb Global Solutions Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, March 21st. Investors of record on Monday, March 17th will be paid a $0.17 dividend. The ex-dividend date is Monday, March 17th. This represents a $0.68 annualized dividend and a yield of 0.55%. Climb Global Solutions's payout ratio is 16.75%.

Institutional Trading of Climb Global Solutions

A number of large investors have recently bought and sold shares of CLMB. New York State Teachers Retirement System bought a new position in shares of Climb Global Solutions during the 3rd quarter worth $38,000. Janney Montgomery Scott LLC lifted its holdings in Climb Global Solutions by 17.7% during the third quarter. Janney Montgomery Scott LLC now owns 23,030 shares of the company's stock valued at $2,292,000 after purchasing an additional 3,463 shares during the last quarter. Royce & Associates LP boosted its position in Climb Global Solutions by 314.5% during the third 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. Foundry Partners LLC increased its stake in shares of Climb Global Solutions by 0.9% in the third quarter. Foundry Partners LLC now owns 35,675 shares of the company's stock worth $3,551,000 after purchasing an additional 330 shares in the last quarter. Finally, Navellier & Associates Inc. purchased a new position in shares of Climb Global Solutions in the third quarter worth about $322,000. 49.72% of the stock is owned by hedge funds and other institutional investors.

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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.