Verdence Capital Advisors LLC Sells 265 Shares of Globant S.A. (NYSE:GLOB)

Verdence Capital Advisors LLC decreased its stake in Globant S.A. (NYSE:GLOB) by 7.8% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 3,148 shares of the information technology services provider’s stock after selling 265 shares during the period. Verdence Capital Advisors LLC’s holdings in Globant were worth $749,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently made changes to their positions in the stock. Private Advisor Group LLC boosted its holdings in shares of Globant by 5.2% in the 1st quarter. Private Advisor Group LLC now owns 1,283 shares of the information technology services provider’s stock worth $336,000 after purchasing an additional 63 shares in the last quarter. PNC Financial Services Group Inc. lifted its position in Globant by 29.5% in 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 during 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 worth $36,988,000 after buying an additional 65,635 shares in the last quarter. Loomis Sayles & Co. L P grew its position in Globant by 22.2% during 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 acquiring an additional 85 shares during the last quarter. Finally, Zions Bancorporation N.A. raised its stake in shares of Globant by 36.6% during the first quarter. Zions Bancorporation N.A. now owns 2,718 shares of the information technology services provider’s stock worth $712,000 after acquiring an additional 728 shares in the last quarter. Hedge funds and other institutional investors own 91.60% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently issued reports on GLOB shares. Canaccord Genuity Group reaffirmed a “hold” rating and issued a $230.00 price objective on shares of Globant in a research note on Tuesday, February 20th. Guggenheim began coverage on Globant in a report on Tuesday, March 19th. They issued a “buy” rating and a $250.00 price objective on the stock. UBS Group increased their target price on Globant from $230.00 to $240.00 and gave the company a “neutral” rating in a report on Monday, February 26th. Citigroup raised their price target on Globant from $215.00 to $275.00 and gave the stock a “buy” rating in a research report on Wednesday, January 17th. Finally, Piper Sandler boosted their price objective on Globant from $257.00 to $290.00 and gave the company an “overweight” rating in a research report on Friday, February 16th. Six equities research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company’s stock. According to MarketBeat, Globant has a consensus rating of “Moderate Buy” and an average target price of $246.59.

Globant Trading Down 0.1 %

Shares of GLOB opened at $179.29 on Monday. Globant S.A. has a 1-year low of $135.40 and a 1-year high of $251.50. The firm’s 50-day moving average price is $209.46 and its 200-day moving average price is $212.80. The firm has a market capitalization of $7.73 billion, a price-to-earnings ratio of 49.39, a PEG ratio of 1.36 and a beta of 1.35.

Globant (NYSE:GLOB) last issued its quarterly earnings data on Thursday, February 15th. The information technology services provider reported $1.26 EPS for the quarter, missing the consensus estimate of $1.34 by ($0.08). Globant had a return on equity of 11.38% and a net margin of 7.56%. The company had revenue of $580.71 million during the quarter, compared to analysts’ expectations of $579.70 million. On average, research analysts forecast that Globant S.A. will post 5.03 EPS for the current fiscal year.

Globant Company Profile

Globant SA, together with its subsidiaries, provides technology services worldwide. It provides digital solutions comprising blockchain, cloud technologies, cybersecurity, data and artificial intelligence, digital experience and performance, code, Internet of Things, metaverse, and engineering and testing; and enterprise technology solutions and services, such as Agile organization, Cultural Hacking, process optimization services, as well as AWS, Google Cloud, Microsoft, Oracle, SalesForce, SAP, and ServiceNow technology solutions.