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 note issued to investors on Saturday morning.

CLMB has been the subject of several other research reports. Zacks Research lowered shares of Climb Global Solutions from a “hold” rating to a “strong sell” rating in a research report on Friday, November 7th. Weiss Ratings restated a “buy (b-)” rating on shares of Climb Global Solutions in a research report on Monday, December 15th. Finally, Barrington Research reaffirmed an “outperform” rating and issued a $136.00 price target on shares of Climb Global Solutions in a report on Friday, November 7th. Two equities research analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of $136.00.

Climb Global Solutions Trading Down 0.9%

Shares of Climb Global Solutions stock opened at $106.83 on Friday. The firm has a market cap of $492.49 million, a PE ratio of 22.97, a PEG ratio of 1.89 and a beta of 1.13. The stock has a 50 day moving average of $113.53 and a 200 day moving average of $116.19. Climb Global Solutions has a 12 month low of $88.90 and a 12 month high of $145.02.

Climb Global Solutions (NASDAQ:CLMB) last released its quarterly earnings data on Wednesday, October 29th. The company reported $1.31 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.15 by $0.16. The business had revenue of $161.34 million for the quarter, compared to the consensus estimate of $125.29 million. Climb Global Solutions had a return on equity of 26.52% and a net margin of 3.44%. As a group, equities research analysts forecast 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 disclosed a quarterly dividend, which was paid on Monday, November 17th. Shareholders of record on Monday, November 10th were paid a $0.17 dividend. The ex-dividend date of this dividend was Monday, November 10th. This represents a $0.68 annualized dividend and a yield of 0.6%. Climb Global Solutions’s dividend payout ratio (DPR) is presently 14.62%.

Institutional Investors Weigh In On Climb Global Solutions

Hedge funds and other institutional investors have recently modified their holdings of the business. IFP Advisors Inc lifted its stake in shares of Climb Global Solutions by 18.2% during the 3rd quarter. IFP Advisors Inc now owns 643 shares of the company’s stock worth $90,000 after acquiring an additional 99 shares during the last quarter. Wasatch Advisors LP increased its stake in Climb Global Solutions by 7.7% in the third quarter. Wasatch Advisors LP now owns 302,880 shares of the company’s stock worth $40,840,000 after purchasing an additional 21,749 shares during the period. Citadel Advisors LLC lifted its position in shares of Climb Global Solutions by 90.8% during the third quarter. Citadel Advisors LLC now owns 11,979 shares of the company’s stock worth $1,615,000 after purchasing an additional 5,701 shares during the last quarter. Bank of America Corp DE boosted its stake in shares of Climb Global Solutions by 27.3% during the third quarter. Bank of America Corp DE now owns 6,003 shares of the company’s stock valued at $809,000 after purchasing an additional 1,286 shares during the period. Finally, Ancora Advisors LLC grew its holdings in shares of Climb Global Solutions by 5.1% in the third quarter. Ancora Advisors LLC now owns 7,888 shares of the company’s stock worth $1,064,000 after purchasing an additional 380 shares during the last quarter. 49.72% of the stock is currently owned by hedge funds and other institutional investors.

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.