Climb Global Solutions (NASDAQ:CLMB) Shares Gap Up Following Dividend Announcement

Climb Global Solutions, Inc. (NASDAQ:CLMB)’s share price gapped up before the market opened on Thursday after the company announced a dividend. The stock had previously closed at $118.81, but opened at $129.59. Climb Global Solutions shares last traded at $141.36, with a volume of 31,784 shares changing hands.

The newly announced dividend which will be paid on Friday, March 21st. Stockholders of record on Monday, March 17th 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 0.52%. Climb Global Solutions’s dividend payout ratio (DPR) is presently 18.43%.

Analysts Set New Price Targets

Separately, Barrington Research reissued an “outperform” rating and issued a $136.00 price objective on shares of Climb Global Solutions in a research note on Thursday, December 12th.

Climb Global Solutions Stock Up 9.3 %

The stock’s 50 day moving average is $126.71 and its two-hundred day moving average is $115.78. The company has a market capitalization of $598.51 million, a PE ratio of 37.12, a price-to-earnings-growth ratio of 1.74 and a beta of 1.13.

Institutional Investors Weigh In On Climb Global Solutions

Large investors have recently modified their holdings of the business. New York State Teachers Retirement System purchased a new position in Climb Global Solutions during the third quarter valued at approximately $38,000. Summit Investment Advisors Inc. increased its holdings in shares of Climb Global Solutions by 28.3% in the 4th quarter. Summit Investment Advisors Inc. now owns 440 shares of the company’s stock valued at $56,000 after acquiring an additional 97 shares during the period. Tower Research Capital LLC TRC raised its position in shares of Climb Global Solutions by 200.0% in the 4th quarter. Tower Research Capital LLC TRC now owns 477 shares of the company’s stock worth $60,000 after acquiring an additional 318 shares in the last quarter. State of Wyoming purchased a new stake in shares of Climb Global Solutions during the 4th quarter worth $64,000. Finally, MeadowBrook Investment Advisors LLC purchased a new position in Climb Global Solutions in the fourth quarter valued at about $120,000. Institutional investors own 49.72% of the company’s stock.

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.