Climb Global Solutions (NASDAQ:CLMB) Given Outperform Rating at Barrington Research

Barrington Research reaffirmed their outperform rating on shares of Climb Global Solutions (NASDAQ:CLMB) in a research report sent to investors on Thursday morning,Benzinga reports. The brokerage currently has a $136.00 price objective on the stock.

Climb Global Solutions Stock Up 2.8%

CLMB stock opened at $130.59 on Thursday. The company’s 50-day simple moving average is $114.97 and its 200-day simple moving average is $110.91. Climb Global Solutions has a 52-week low of $86.59 and a 52-week high of $144.99. The firm has a market cap of $603.33 million, a P/E ratio of 27.09, a PEG ratio of 2.06 and a beta of 1.01.

Climb Global Solutions (NASDAQ:CLMB) last posted its earnings results on Wednesday, July 30th. The company reported $1.39 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.90 by $0.49. Climb Global Solutions had a net margin of 3.82% and a return on equity of 29.16%. The business had revenue of $159.28 million for the quarter, compared to analyst estimates of $113.25 million. On average, analysts anticipate that Climb Global Solutions will post 4.14 earnings per share for the current fiscal year.

Climb Global Solutions Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, August 15th. Stockholders of record on Monday, August 11th were paid a dividend of $0.17 per share. This represents a $0.68 annualized dividend and a dividend yield of 0.5%. The ex-dividend date of this dividend was Monday, August 11th. Climb Global Solutions’s dividend payout ratio is presently 14.11%.

Institutional Inflows and Outflows

Several hedge funds have recently modified their holdings of the stock. Wasatch Advisors LP raised its position in shares of Climb Global Solutions by 29.5% during the 2nd quarter. Wasatch Advisors LP now owns 281,131 shares of the company’s stock worth $30,056,000 after purchasing an additional 63,975 shares during the last quarter. Vanguard Group Inc. raised its position in shares of Climb Global Solutions by 3.3% during the 1st quarter. Vanguard Group Inc. now owns 240,449 shares of the company’s stock worth $26,632,000 after purchasing an additional 7,737 shares during the last quarter. De Lisle Partners LLP raised its position in shares of Climb Global Solutions by 1.6% during the 2nd quarter. De Lisle Partners LLP now owns 228,088 shares of the company’s stock worth $24,418,000 after purchasing an additional 3,500 shares during the last quarter. Geode Capital Management LLC raised its position in shares of Climb Global Solutions by 0.3% during the 2nd quarter. Geode Capital Management LLC now owns 93,259 shares of the company’s stock worth $9,972,000 after purchasing an additional 259 shares during the last quarter. Finally, Thrivent Financial for Lutherans raised its position in shares of Climb Global Solutions by 56.4% during the 2nd quarter. Thrivent Financial for Lutherans now owns 74,389 shares of the company’s stock worth $7,953,000 after purchasing an additional 26,819 shares during the last quarter. Institutional investors and hedge funds 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.