Climb Global Solutions (NASDAQ:CLMB) Sets New 1-Year High – Time to Buy?

Climb Global Solutions, Inc. (NASDAQ:CLMB)’s stock price hit a new 52-week high during trading on Monday . The stock traded as high as $142.50 and last traded at $140.70, with a volume of 4474 shares trading hands. The stock had previously closed at $139.88.

Analyst Upgrades and Downgrades

Separately, Barrington Research increased their price objective on shares of Climb Global Solutions from $90.00 to $136.00 and gave the company an “outperform” rating in a research note on Tuesday, November 12th.

Climb Global Solutions Trading Down 0.8 %

The company’s 50-day simple moving average is $108.84 and its 200-day simple moving average is $82.95. The stock has a market capitalization of $628.20 million, a price-to-earnings ratio of 36.93, a PEG ratio of 2.07 and a beta of 1.06.

Climb Global Solutions Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, November 15th. Investors of record on Monday, November 11th were paid a dividend of $0.17 per share. This represents a $0.68 annualized dividend and a yield of 0.50%. The ex-dividend date was Friday, November 8th. Climb Global Solutions’s dividend payout ratio is presently 18.43%.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of CLMB. Choreo LLC bought a new position in Climb Global Solutions during the second quarter worth $4,491,000. De Lisle Partners LLP boosted its stake in Climb Global Solutions by 24.1% during the third quarter. De Lisle Partners LLP now owns 194,280 shares of the company’s stock worth $19,272,000 after acquiring an additional 37,747 shares in the last quarter. Royce & Associates LP boosted its stake 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 acquiring an additional 27,254 shares in the last quarter. Vanguard Group Inc. boosted its stake in Climb Global Solutions by 3.4% during the first quarter. Vanguard Group Inc. now owns 223,907 shares of the company’s stock worth $15,871,000 after acquiring an additional 7,447 shares in the last quarter. Finally, Pinnacle Associates Ltd. boosted its stake in 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 acquiring an additional 7,298 shares in the last quarter. 49.72% of the stock is owned by institutional investors.

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.