Quent Capital LLC lifted its holdings in Globant S.A. (NYSE:GLOB – Free Report) by 26.6% during the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 3,333 shares of the information technology services provider’s stock after purchasing an additional 700 shares during the quarter. Quent Capital LLC’s holdings in Globant were worth $599,000 as of its most recent SEC filing.
Other hedge funds have also added to or reduced their stakes in the company. Private Advisor Group LLC grew its stake in shares of Globant by 5.2% in the first quarter. Private Advisor Group LLC now owns 1,283 shares of the information technology services provider’s stock valued at $336,000 after buying an additional 63 shares in the last quarter. PNC Financial Services Group Inc. raised its holdings in shares of Globant by 29.5% during the 1st quarter. PNC Financial Services Group Inc. now owns 3,476 shares of the information technology services provider’s stock worth $910,000 after buying an additional 792 shares in the last quarter. Vanguard Group Inc. boosted its stake in Globant by 86.9% in the first quarter. Vanguard Group Inc. now owns 141,141 shares of the information technology services provider’s stock valued at $36,988,000 after buying an additional 65,635 shares in the last quarter. Loomis Sayles & Co. L P boosted its stake in Globant by 22.2% in the first quarter. Loomis Sayles & Co. L P now owns 468 shares of the information technology services provider’s stock valued at $123,000 after buying an additional 85 shares in the last quarter. Finally, Zions Bancorporation N.A. grew its position in Globant by 36.6% in the first quarter. Zions Bancorporation N.A. now owns 2,718 shares of the information technology services provider’s stock valued at $712,000 after acquiring an additional 728 shares during the last quarter. Institutional investors own 91.49% of the company’s stock.
Analyst Ratings Changes
A number of research firms have recently weighed in on GLOB. TD Cowen reduced their price target on shares of Globant from $207.00 to $205.00 and set an “outperform” rating on the stock in a research note on Friday, August 18th. JPMorgan Chase & Co. boosted their price objective on Globant from $194.00 to $236.00 and gave the stock an “overweight” rating in a research report on Tuesday, August 22nd. Jefferies Financial Group increased their target price on Globant from $198.00 to $227.00 in a research report on Tuesday, June 20th. Scotiabank began coverage on Globant in a research note on Wednesday, August 23rd. They set a “sector outperform” rating and a $210.00 price target on the stock. Finally, StockNews.com raised Globant from a “sell” rating to a “hold” rating in a research note on Thursday, August 24th. One investment analyst has rated the stock with a hold rating and twelve have given a buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $221.23.
Globant Stock Performance
Shares of NYSE GLOB traded down $2.74 during midday trading on Friday, reaching $200.63. The stock had a trading volume of 250,301 shares, compared to its average volume of 438,356. Globant S.A. has a twelve month low of $135.40 and a twelve month high of $218.91. The company’s 50 day moving average price is $185.49 and its 200 day moving average price is $171.28. The firm has a market cap of $8.48 billion, a price-to-earnings ratio of 58.33 and a beta of 1.32.
Globant (NYSE:GLOB – Get Free Report) last released its earnings results on Thursday, August 17th. The information technology services provider reported $1.04 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.10 by ($0.06). Globant had a net margin of 7.74% and a return on equity of 11.40%. The firm had revenue of $497.53 million during the quarter, compared to analyst estimates of $496.47 million. Equities analysts forecast that Globant S.A. will post 4.66 earnings per share for the current fiscal year.
Globant SA operates as a technology services company worldwide. The company 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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