SG Americas Securities LLC Invests $626,000 in Globant S.A. (NYSE:GLOB)

SG Americas Securities LLC acquired a new position in shares of Globant S.A. (NYSE:GLOB – Get Rating) during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor acquired 2,389 shares of the information technology services provider’s stock, valued at approximately $626,000.

A number of other large investors have also modified their holdings of the stock. Wasatch Advisors Inc. increased its position in shares of Globant by 2.0% during the fourth quarter. Wasatch Advisors Inc. now owns 2,816,482 shares of the information technology services provider’s stock worth $884,629,000 after acquiring an additional 54,946 shares during the period. Riverbridge Partners LLC grew its stake in shares of Globant by 1.2% during the first quarter. Riverbridge Partners LLC now owns 1,474,571 shares of the information technology services provider’s stock worth $386,441,000 after purchasing an additional 17,533 shares in the last quarter. Jennison Associates LLC grew its stake in shares of Globant by 41.7% during the fourth quarter. Jennison Associates LLC now owns 1,188,923 shares of the information technology services provider’s stock worth $373,429,000 after purchasing an additional 349,600 shares in the last quarter. Invesco Ltd. grew its stake in shares of Globant by 5.5% during the fourth quarter. Invesco Ltd. now owns 1,168,034 shares of the information technology services provider’s stock worth $366,867,000 after purchasing an additional 60,704 shares in the last quarter. Finally, William Blair Investment Management LLC grew its stake in shares of Globant by 4.2% during the fourth quarter. William Blair Investment Management LLC now owns 1,029,858 shares of the information technology services provider’s stock worth $323,468,000 after purchasing an additional 41,171 shares in the last quarter. Hedge funds and other institutional investors own 88.21% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts recently commented on GLOB shares. Cowen lowered their target price on shares of Globant from $305.00 to $240.00 in a research note on Friday, May 20th. The Goldman Sachs Group decreased their price objective on shares of Globant from $360.00 to $280.00 and set a “buy” rating for the company in a research note on Tuesday, July 5th. Cowen decreased their price objective on shares of Globant from $305.00 to $240.00 and set an “outperform” rating for the company in a research note on Friday, May 20th. TheStreet downgraded shares of Globant from a “b-” rating to a “c+” rating in a research note on Thursday, May 5th. Finally, Citigroup decreased their price objective on shares of Globant from $350.00 to $265.00 and set a “buy” rating for the company in a research note on Friday, May 20th. One investment analyst has rated the stock with a hold rating and nine have given a buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $283.38.

Globant Stock Performance

Shares of NYSE:GLOB opened at $218.57 on Thursday. The company has a 50-day simple moving average of $188.58 and a 200-day simple moving average of $219.57. Globant S.A. has a one year low of $159.56 and a one year high of $354.62. The stock has a market capitalization of $9.16 billion, a price-to-earnings ratio of 83.42 and a beta of 1.50.

Globant (NYSE:GLOB – Get Rating) last announced its earnings results on Thursday, May 19th. The information technology services provider reported $0.98 EPS for the quarter, beating analysts’ consensus estimates of $0.93 by $0.05. The business had revenue of $401.38 million during the quarter, compared to analysts’ expectations of $397.41 million. Globant had a net margin of 7.77% and a return on equity of 10.98%. The business’s revenue was up 48.6% compared to the same quarter last year. During the same period in the prior year, the company earned $0.66 earnings per share. As a group, research analysts forecast that Globant S.A. will post 3.86 EPS for the current fiscal year.

Globant Company Profile

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Globant SA operates as a technology services company worldwide. It offers e-commerce, new distribution capabilities, augmented revenue management, hyper connected operation, and conversational user experience services through reinvention studios; digital lending, commercial effectiveness, finance, sustainability, regulation analytic, transformation and post-merger integration, and payment and open banking services; and game and graphic engineering, UI and UX design, game as a service, DevOps, and online services, as well as high tech tools.

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