Climb Global Solutions (NASDAQ:CLMB) Reaches New 1-Year High - Here's What Happened

Climb Global Solutions, Inc. (NASDAQ:CLMB - Get Free Report) shares reached a new 52-week high on Thursday . The company traded as high as $117.64 and last traded at $117.64, with a volume of 1282 shares trading hands. The stock had previously closed at $105.58.

Analyst Upgrades and Downgrades

Separately, Barrington Research reiterated an "outperform" rating and issued a $90.00 price objective on shares of Climb Global Solutions in a report on Thursday, October 10th.

Climb Global Solutions Stock Performance

The company has a market capitalization of $471.71 million, a price-to-earnings ratio of 27.75, a price-to-earnings-growth ratio of 2.82 and a beta of 1.06. The company has a current ratio of 1.10, a quick ratio of 1.09 and a debt-to-equity ratio of 0.01. The stock has a 50-day simple moving average of $97.72 and a 200-day simple moving average of $75.48.

Climb Global Solutions (NASDAQ:CLMB - Get Free Report) last posted its quarterly earnings data on Tuesday, August 6th. The company reported $0.83 EPS for the quarter, beating analysts' consensus estimates of $0.48 by $0.35. The firm had revenue of $92.08 million for the quarter, compared to the consensus estimate of $97.27 million. Climb Global Solutions had a net margin of 3.73% and a return on equity of 18.92%. On average, analysts anticipate that Climb Global Solutions, Inc. will post 3.28 earnings per share for the current year.

Climb Global Solutions Announces Dividend

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 0.66%. The ex-dividend date of this dividend was Friday, August 16th. Climb Global Solutions's dividend payout ratio is currently 18.43%.

Institutional Inflows and Outflows

A number of large investors have recently bought and sold shares of the company. Janney Montgomery Scott LLC increased its holdings in shares of Climb Global Solutions by 17.7% in the 3rd 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 during the last quarter. Pinnacle Associates Ltd. raised its holdings in shares of Climb Global Solutions by 66.8% during the third quarter. Pinnacle Associates Ltd. now owns 18,221 shares of the company's stock worth $1,814,000 after purchasing an additional 7,298 shares during the period. New York State Teachers Retirement System bought a new position in shares of Climb Global Solutions in the 3rd quarter worth about $38,000. Lakewood Asset Management LLC boosted its holdings in shares of Climb Global Solutions by 6.6% in the 3rd quarter. Lakewood Asset Management LLC now owns 9,862 shares of the company's stock valued at $982,000 after buying an additional 608 shares during the period. Finally, SG Americas Securities LLC bought a new stake in shares of Climb Global Solutions during the 3rd quarter valued at about $159,000. 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.