Climb Global Solutions (NASDAQ:CLMB) Cut to Hold at Wall Street Zen

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

Several other analysts also recently weighed in on the company. Barrington Research restated an “outperform” rating and set a $136.00 target price on shares of Climb Global Solutions in a research note on Thursday, October 23rd. Weiss Ratings restated a “buy (b)” rating on shares of Climb Global Solutions in a research note on Wednesday, October 8th. Two investment analysts have rated the stock with a Buy rating, According to MarketBeat.com, the company has a consensus rating of “Buy” and an average target price of $136.00.

Climb Global Solutions Price Performance

NASDAQ:CLMB opened at $116.97 on Friday. The business’s 50-day moving average is $131.06 and its two-hundred day moving average is $116.10. Climb Global Solutions has a 12 month low of $88.90 and a 12 month high of $145.02. The firm has a market capitalization of $540.05 million, a PE ratio of 25.15, a price-to-earnings-growth ratio of 2.16 and a beta of 1.00.

Climb Global Solutions (NASDAQ:CLMB) last released its quarterly earnings data on Wednesday, October 29th. The company reported $1.31 EPS for the quarter, beating the consensus estimate of $1.15 by $0.16. Climb Global Solutions had a return on equity of 27.35% and a net margin of 3.44%.The company had revenue of $161.34 million for the quarter, compared to analyst estimates of $125.29 million. Equities analysts anticipate that Climb Global Solutions will post 4.14 EPS for the current year.

Climb Global Solutions Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, November 17th. Shareholders of record on Monday, November 10th will be paid a $0.17 dividend. This represents a $0.68 dividend on an annualized basis and a yield of 0.6%. The ex-dividend date is Monday, November 10th. Climb Global Solutions’s payout ratio is presently 14.62%.

Hedge Funds Weigh In On Climb Global Solutions

A number of hedge funds and other institutional investors have recently bought and sold shares of CLMB. Catalyst Capital Advisors LLC acquired a new position in Climb Global Solutions in the first quarter valued at approximately $349,000. MeadowBrook Investment Advisors LLC raised its holdings in shares of Climb Global Solutions by 61.1% during the first quarter. MeadowBrook Investment Advisors LLC now owns 1,530 shares of the company’s stock valued at $169,000 after buying an additional 580 shares during the last quarter. Alps Advisors Inc. bought a new stake in shares of Climb Global Solutions during the first quarter valued at approximately $356,000. Universal Beteiligungs und Servicegesellschaft mbH raised its holdings in shares of Climb Global Solutions by 7.0% during the first quarter. Universal Beteiligungs und Servicegesellschaft mbH now owns 6,100 shares of the company’s stock valued at $676,000 after buying an additional 400 shares during the last quarter. Finally, De Lisle Partners LLP raised its holdings in shares of Climb Global Solutions by 8.4% during the first quarter. De Lisle Partners LLP now owns 224,588 shares of the company’s stock valued at $24,822,000 after buying an additional 17,308 shares during the last quarter. 49.72% of the stock is currently owned by institutional investors and hedge funds.

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.