Climb Global Solutions (NASDAQ:CLMB) Upgraded by Wall Street Zen to Buy Rating

Wall Street Zen upgraded shares of Climb Global Solutions (NASDAQ:CLMB) from a hold rating to a buy rating in a research report sent to investors on Saturday.

A number of other brokerages have also issued reports on CLMB. Zacks Research lowered shares of Climb Global Solutions from a “hold” rating to a “strong sell” rating in a report on Friday, November 7th. Weiss Ratings reissued a “buy (b-)” rating on shares of Climb Global Solutions in a report on Tuesday. Finally, Barrington Research restated an “outperform” rating and set a $136.00 price target on shares of Climb Global Solutions in a report on Friday, November 7th. Two investment analysts have rated the stock with a Buy rating and one has issued a Sell rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target of $136.00.

Climb Global Solutions Trading Down 1.1%

CLMB traded down $1.20 during trading on Friday, reaching $109.30. 50,747 shares of the company were exchanged, compared to its average volume of 51,175. The firm has a 50 day moving average of $128.30 and a 200 day moving average of $116.25. Climb Global Solutions has a 52 week low of $88.90 and a 52 week high of $145.02. The stock has a market cap of $504.20 million, a P/E ratio of 23.51, a PEG ratio of 2.16 and a beta of 0.97.

Climb Global Solutions (NASDAQ:CLMB) last announced its quarterly earnings results on Wednesday, October 29th. The company reported $1.31 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.15 by $0.16. The company had revenue of $161.34 million during the quarter, compared to the consensus estimate of $125.29 million. Climb Global Solutions had a return on equity of 27.35% and a net margin of 3.44%. As a group, analysts forecast that Climb Global Solutions will post 4.14 earnings per share for the current fiscal year.

Climb Global Solutions Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, November 17th. Stockholders of record on Monday, November 10th will be given a dividend of $0.17 per share. This represents a $0.68 dividend on an annualized basis and a dividend yield of 0.6%. The ex-dividend date of this dividend is Monday, November 10th. Climb Global Solutions’s dividend payout ratio is currently 14.62%.

Institutional Investors Weigh In On Climb Global Solutions

Several institutional investors and hedge funds have recently bought and sold shares of CLMB. Universal Beteiligungs und Servicegesellschaft mbH lifted its stake in Climb Global Solutions by 7.0% in the 1st quarter. Universal Beteiligungs und Servicegesellschaft mbH now owns 6,100 shares of the company’s stock valued at $676,000 after purchasing an additional 400 shares during the last quarter. De Lisle Partners LLP boosted its stake in shares of Climb Global Solutions by 8.4% in the first quarter. De Lisle Partners LLP now owns 224,588 shares of the company’s stock worth $24,822,000 after buying an additional 17,308 shares during the last quarter. Vanguard Group Inc. boosted its position in Climb Global Solutions by 3.3% in the 1st quarter. Vanguard Group Inc. now owns 240,449 shares of the company’s stock valued at $26,632,000 after buying an additional 7,737 shares during the period. Cynosure Group LLC purchased a new stake in Climb Global Solutions during the first quarter worth $321,000. Finally, Sierra Summit Advisors LLC acquired a new stake in shares of Climb Global Solutions in the 1st quarter valued at about $554,000. 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.