Logan Capital Management Inc. Cuts Stock Position in Globant S.A. (NYSE:GLOB)

Logan Capital Management Inc. trimmed its holdings in shares of Globant S.A. (NYSE:GLOBFree Report) by 3.2% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 6,463 shares of the information technology services provider’s stock after selling 212 shares during the period. Logan Capital Management Inc.’s holdings in Globant were worth $1,538,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also recently added to or reduced their stakes in GLOB. Charles Schwab Investment Management Inc. lifted its stake in shares of Globant by 13.4% during the third quarter. Charles Schwab Investment Management Inc. now owns 39,500 shares of the information technology services provider’s stock worth $7,815,000 after purchasing an additional 4,662 shares in the last quarter. Vanguard Personalized Indexing Management LLC lifted its position in Globant by 19.7% during the 3rd quarter. Vanguard Personalized Indexing Management LLC now owns 1,381 shares of the information technology services provider’s stock worth $273,000 after acquiring an additional 227 shares in the last quarter. HighTower Advisors LLC lifted its position in Globant by 1.9% during the 3rd quarter. HighTower Advisors LLC now owns 6,863 shares of the information technology services provider’s stock worth $1,369,000 after acquiring an additional 126 shares in the last quarter. State of New Jersey Common Pension Fund D boosted its holdings in Globant by 30.3% in the 3rd quarter. State of New Jersey Common Pension Fund D now owns 36,454 shares of the information technology services provider’s stock worth $7,212,000 after acquiring an additional 8,484 shares during the period. Finally, Wealth Alliance grew its position in Globant by 3.5% in the third quarter. Wealth Alliance now owns 1,763 shares of the information technology services provider’s stock valued at $349,000 after acquiring an additional 59 shares in the last quarter. 91.60% of the stock is currently owned by institutional investors and hedge funds.

Globant Stock Up 0.2 %

Shares of NYSE GLOB opened at $154.47 on Tuesday. The stock has a market capitalization of $6.66 billion, a P/E ratio of 40.54, a P/E/G ratio of 1.21 and a beta of 1.40. The firm’s 50-day moving average price is $177.97 and its two-hundred day moving average price is $209.05. Globant S.A. has a 52-week low of $151.82 and a 52-week high of $251.50.

Globant (NYSE:GLOBGet Free Report) last announced its quarterly earnings results on Thursday, May 16th. The information technology services provider reported $1.19 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.18 by $0.01. Globant had a return on equity of 11.60% and a net margin of 7.62%. The business had revenue of $571.08 million for the quarter, compared to the consensus estimate of $570.72 million. As a group, equities research analysts expect that Globant S.A. will post 5.02 earnings per share for the current year.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently weighed in on the stock. Piper Sandler reaffirmed an “overweight” rating and set a $238.00 price target (down from $290.00) on shares of Globant in a report on Friday, May 17th. Redburn Atlantic assumed coverage on Globant in a research report on Friday, May 24th. They set a “sell” rating and a $135.00 target price on the stock. Citigroup reduced their price target on Globant from $235.00 to $215.00 and set a “buy” rating for the company in a report on Friday, May 17th. Canaccord Genuity Group dropped their price objective on Globant from $230.00 to $175.00 and set a “hold” rating on the stock in a report on Friday, May 17th. Finally, StockNews.com upgraded Globant from a “sell” rating to a “hold” rating in a research note on Tuesday, May 21st. One investment analyst has rated the stock with a sell rating, six have issued a hold rating and twelve have issued a buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $217.94.

Check Out Our Latest Analysis on Globant

Globant Profile

(Free Report)

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.

See Also

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Institutional Ownership by Quarter for Globant (NYSE:GLOB)

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