Climb Global Solutions (NASDAQ:CLMB) Shares Gap Up After Strong Earnings

Key Points

Error: Response status code does not indicate success: 429 (Too Many Requests).

Climb Global Solutions, Inc. (NASDAQ:CLMB - Get Free Report) shares gapped up before the market opened on Thursday following a stronger than expected earnings report. The stock had previously closed at $101.54, but opened at $113.00. Climb Global Solutions shares last traded at $112.00, with a volume of 25,290 shares changing hands.

The company reported $1.39 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.90 by $0.49. The firm had revenue of $159.28 million for the quarter, compared to analysts' expectations of $113.25 million. Climb Global Solutions had a net margin of 3.82% and a return on equity of 29.16%.

Climb Global Solutions Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, August 15th. Investors of record on Monday, August 11th will be given a $0.17 dividend. This represents a $0.68 annualized dividend and a yield of 0.6%. The ex-dividend date is Monday, August 11th. Climb Global Solutions's payout ratio is currently 14.11%.

Wall Street Analyst Weigh In

Separately, Barrington Research restated an "outperform" rating and issued a $136.00 price target on shares of Climb Global Solutions in a research report on Friday, July 25th.

Institutional Investors Weigh In On Climb Global Solutions

Several large investors have recently bought and sold shares of CLMB. LPL Financial LLC bought a new stake in Climb Global Solutions in the fourth quarter worth $1,093,000. Vanguard Group Inc. boosted its stake in Climb Global Solutions by 2.3% during the fourth quarter. Vanguard Group Inc. now owns 232,712 shares of the company's stock worth $29,496,000 after buying an additional 5,195 shares during the period. JPMorgan Chase & Co. boosted its stake in Climb Global Solutions by 112.9% during the fourth quarter. JPMorgan Chase & Co. now owns 16,088 shares of the company's stock worth $2,039,000 after buying an additional 8,530 shares during the period. Arrowstreet Capital Limited Partnership purchased a new position in Climb Global Solutions during the fourth quarter worth $476,000. Finally, Wells Fargo & Company MN boosted its stake in Climb Global Solutions by 57.5% during the fourth quarter. Wells Fargo & Company MN now owns 2,040 shares of the company's stock worth $259,000 after buying an additional 745 shares during the period. Institutional investors own 49.72% of the company's stock.

Climb Global Solutions Stock Down 3.5%

The firm's 50 day simple moving average is $105.75 and its 200 day simple moving average is $111.90. The company has a market capitalization of $493.67 million, a PE ratio of 22.27, a price-to-earnings-growth ratio of 1.80 and a beta of 1.01.

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.