Flputnam Investment Management Co. Acquires Shares of 20,710 Climb Global Solutions, Inc. $CLMB

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

Other hedge funds and other institutional investors also recently made changes to their positions in the company. BlackRock Inc. acquired a new position in shares of Climb Global Solutions during the 2nd quarter worth approximately $30,777,000. De Lisle Partners LLP bought a new position in Climb Global Solutions during the second quarter worth $20,552,000. Wasatch Advisors LP boosted its position in Climb Global Solutions by 13.8% during the second quarter. Wasatch Advisors LP now owns 691,360 shares of the company’s stock worth $16,046,000 after purchasing an additional 83,680 shares during the period. Tieton Capital Management LLC bought a new position in Climb Global Solutions during the second quarter worth $15,948,000. Finally, Punch & Associates Investment Management Inc. acquired a new position in shares of Climb Global Solutions in the second quarter valued at $12,810,000. 49.72% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several brokerages recently commented on CLMB. Barrington Research reaffirmed an “outperform” rating and set a $30.00 target price on shares of Climb Global Solutions in a report on Tuesday, May 5th. Wall Street Zen upgraded shares of Climb Global Solutions from a “sell” rating to a “hold” rating in a research report on Saturday, August 1st. Finally, Weiss Ratings upgraded Climb Global Solutions from a “hold (c)” rating to a “hold (c+)” rating in a report on Monday, August 17th. One equities research analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating and two have given a Hold rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $31.00.

Climb Global Solutions Stock Performance

NASDAQ:CLMB opened at $28.53 on Tuesday. The company has a market cap of $532.37 million, a price-to-earnings ratio of 25.59, a PEG ratio of 1.79 and a beta of 1.07. Climb Global Solutions, Inc. has a fifty-two week low of $15.24 and a fifty-two week high of $36.26. The stock has a fifty day moving average price of $26.21 and a 200-day moving average price of $23.54.

Climb Global Solutions (NASDAQ:CLMB) last issued its quarterly earnings results on Wednesday, July 29th. The company reported $0.30 EPS for the quarter, hitting 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 return on equity of 18.87% and a net margin of 2.88%. Research analysts predict that Climb Global Solutions, Inc. will post 1.32 EPS for the current fiscal year.

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.