Barrington Research Trims Climb Global Solutions (NASDAQ:CLMB) Target Price to $68.00

Climb Global Solutions (NASDAQ:CLMB) had its price objective dropped by Barrington Research from $76.00 to $68.00 in a report released on Monday, Benzinga reports. The firm currently has an “outperform” rating on the stock. Barrington Research’s price objective would indicate a potential upside of 19.55% from the stock’s previous close.

Climb Global Solutions Trading Down 2.6 %

CLMB opened at $56.88 on Monday. The company has a quick ratio of 1.08, a current ratio of 1.09 and a debt-to-equity ratio of 0.01. The stock’s fifty day moving average is $67.04 and its two-hundred day moving average is $57.47. The company has a market capitalization of $260.79 million, a P/E ratio of 22.05, a PEG ratio of 2.02 and a beta of 0.98. Climb Global Solutions has a 52 week low of $37.67 and a 52 week high of $73.25.

Climb Global Solutions (NASDAQ:CLMB) last released its quarterly earnings data on Wednesday, May 1st. The company reported $0.60 earnings per share for the quarter, missing the consensus estimate of $0.75 by ($0.15). Climb Global Solutions had a net margin of 3.26% and a return on equity of 18.93%. The firm had revenue of $92.42 million during the quarter, compared to the consensus estimate of $105.44 million. During the same quarter in the previous year, the firm earned $0.74 earnings per share. Analysts forecast that Climb Global Solutions will post 2.92 earnings per share for the current year.

Insider Transactions at Climb Global Solutions

In other Climb Global Solutions news, CEO Dale Richard Foster sold 3,500 shares of the firm’s stock in a transaction that occurred on Tuesday, March 12th. The shares were sold at an average price of $65.49, for a total value of $229,215.00. Following the completion of the sale, the chief executive officer now directly owns 102,092 shares in the company, valued at $6,686,005.08. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. In related news, CEO Dale Richard Foster sold 3,500 shares of the company’s stock in a transaction dated Tuesday, March 12th. The stock was sold at an average price of $65.49, for a total transaction of $229,215.00. Following the transaction, the chief executive officer now directly owns 102,092 shares of the company’s stock, valued at approximately $6,686,005.08. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, CMO Charles Edward Bass sold 500 shares of the firm’s stock in a transaction dated Monday, March 11th. The stock was sold at an average price of $65.05, for a total value of $32,525.00. Following the completion of the sale, the chief marketing officer now directly owns 37,097 shares of the company’s stock, valued at approximately $2,413,159.85. The disclosure for this sale can be found here. Corporate insiders own 9.70% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently made changes to their positions in CLMB. Bank of New York Mellon Corp raised its stake in Climb Global Solutions by 14.2% in the 3rd quarter. Bank of New York Mellon Corp now owns 37,404 shares of the company’s stock worth $1,609,000 after acquiring an additional 4,656 shares during the last quarter. Strs Ohio increased its holdings in shares of Climb Global Solutions by 177.8% in the third quarter. Strs Ohio now owns 2,500 shares of the company’s stock valued at $107,000 after purchasing an additional 1,600 shares during the period. Punch & Associates Investment Management Inc. raised its stake in shares of Climb Global Solutions by 16.0% in the third quarter. Punch & Associates Investment Management Inc. now owns 168,966 shares of the company’s stock worth $7,267,000 after purchasing an additional 23,279 shares during the last quarter. Allspring Global Investments Holdings LLC acquired a new stake in shares of Climb Global Solutions during the third quarter worth about $95,000. Finally, Tieton Capital Management LLC acquired a new stake in shares of Climb Global Solutions during the third quarter worth about $4,007,000. Hedge funds and other institutional investors own 49.72% of the company’s stock.

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.