Flputnam Investment Management Co. Invests $481,000 in Climb Global Solutions, Inc. $CLMB

Flputnam Investment Management Co. acquired a new stake in shares of Climb Global Solutions, Inc. (NASDAQ:CLMB) during the 2nd quarter, Holdings Channel reports. The fund acquired 20,710 shares of the company’s stock, valued at approximately $481,000.

Other institutional investors and hedge funds have also bought and sold shares of the company. Global Retirement Partners LLC purchased a new stake in Climb Global Solutions during the 2nd quarter valued at $32,000. Bank of New York Mellon Corp purchased a new position in shares of Climb Global Solutions in the second quarter worth $2,936,000. State of Wyoming bought a new position in shares of Climb Global Solutions during the second quarter valued at $97,000. Wasatch Advisors LP lifted its holdings in shares of Climb Global Solutions by 13.8% during the second quarter. Wasatch Advisors LP now owns 691,360 shares of the company’s stock valued at $16,046,000 after purchasing an additional 83,680 shares in the last quarter. Finally, Bank of America Corp DE boosted its position in shares of Climb Global Solutions by 261.7% during the first quarter. Bank of America Corp DE now owns 17,627 shares of the company’s stock valued at $349,000 after buying an additional 12,753 shares during the last quarter. 49.72% of the stock is currently owned by institutional investors.

Climb Global Solutions Trading Down 2.4%

Climb Global Solutions stock opened at $27.84 on Tuesday. The firm has a 50 day moving average of $25.14 and a 200 day moving average of $23.67. The firm has a market capitalization of $519.49 million, a price-to-earnings ratio of 24.97, a P/E/G ratio of 1.80 and a beta of 1.07. Climb Global Solutions, Inc. has a 12-month low of $15.24 and a 12-month high of $36.26.

Climb Global Solutions (NASDAQ:CLMB) last released its earnings results on Wednesday, July 29th. The company reported $0.30 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.30. The company had revenue of $174.21 million for the quarter, compared to analysts’ expectations of $174.07 million. Climb Global Solutions had a net margin of 2.88% and a return on equity of 18.87%. On average, analysts predict that Climb Global Solutions, Inc. will post 1.32 EPS for the current year.

Analysts Set New Price Targets

A number of analysts have recently commented on CLMB shares. Wall Street Zen upgraded shares of Climb Global Solutions from a “sell” rating to a “hold” rating in a research note on Saturday, August 1st. Weiss Ratings restated a “hold (c)” rating on shares of Climb Global Solutions in a research report on Monday, August 3rd. Finally, Barrington Research restated an “outperform” rating and issued a $30.00 target price on shares of Climb Global Solutions in a report on Tuesday, May 5th. One analyst has rated the stock with a Strong Buy rating, two have given a Buy rating and two have assigned a Hold rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $31.00.

Climb Global Solutions 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.