Verdence Capital Advisors LLC Acquires 682 Shares of Globant S.A. (NYSE:GLOB)

Verdence Capital Advisors LLC lifted its holdings in Globant S.A. (NYSE:GLOB) by 15.9% during the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 4,963 shares of the information technology services provider’s stock after buying an additional 682 shares during the period. Verdence Capital Advisors LLC’s holdings in Globant were worth $885,000 at the end of the most recent reporting period.

Several other hedge funds have also recently made changes to their positions in GLOB. 17 Capital Partners LLC increased its stake in Globant by 1.6% during the second quarter. 17 Capital Partners LLC now owns 3,455 shares of the information technology services provider’s stock worth $616,000 after acquiring an additional 55 shares during the last quarter. CWM LLC raised its holdings in Globant by 13.5% during the 4th quarter. CWM LLC now owns 572 shares of the information technology services provider’s stock valued at $136,000 after buying an additional 68 shares during the period. Janney Capital Management LLC raised its holdings in Globant by 3.1% during the 4th quarter. Janney Capital Management LLC now owns 2,538 shares of the information technology services provider’s stock valued at $604,000 after buying an additional 76 shares during the period. Benjamin F. Edwards & Company Inc. raised its holdings in Globant by 3.9% during the 1st quarter. Benjamin F. Edwards & Company Inc. now owns 2,140 shares of the information technology services provider’s stock valued at $432,000 after buying an additional 81 shares during the period. Finally, Envestnet Portfolio Solutions Inc. lifted its position in Globant by 1.0% in the fourth quarter. Envestnet Portfolio Solutions Inc. now owns 9,205 shares of the information technology services provider’s stock worth $2,191,000 after buying an additional 89 shares during the last quarter. 91.60% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently weighed in on the stock. Piper Sandler reissued an “overweight” rating and issued a $240.00 target price (up previously from $238.00) on shares of Globant in a research note on Friday, August 16th. StockNews.com lowered shares of Globant from a “hold” rating to a “sell” rating in a research report on Tuesday. Citigroup boosted their target price on Globant from $215.00 to $220.00 and gave the company a “buy” rating in a research report on Friday, July 12th. JPMorgan Chase & Co. raised their price target on Globant from $218.00 to $226.00 and gave the stock an “overweight” rating in a research note on Friday, August 16th. Finally, The Goldman Sachs Group began coverage on Globant in a research report on Monday, June 24th. They issued a “buy” rating and a $200.00 price objective on the stock. Two research analysts have rated the stock with a sell rating, seven have issued a hold rating and twelve have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus target price of $221.42.

Globant Trading Down 0.8 %

Shares of NYSE GLOB opened at $201.54 on Tuesday. Globant S.A. has a 12-month low of $151.68 and a 12-month high of $251.50. The stock’s fifty day simple moving average is $187.07 and its two-hundred day simple moving average is $190.61. The stock has a market capitalization of $8.68 billion, a PE ratio of 52.90, a price-to-earnings-growth ratio of 1.98 and a beta of 1.41.

Globant (NYSE:GLOB) last issued its quarterly earnings data on Thursday, August 15th. The information technology services provider reported $1.51 earnings per share for the quarter, beating analysts’ consensus estimates of $1.50 by $0.01. The company had revenue of $587.46 million for the quarter, compared to the consensus estimate of $586.72 million. Globant had a return on equity of 11.60% and a net margin of 7.62%. The firm’s revenue for the quarter was up 18.1% compared to the same quarter last year. During the same quarter last year, the company earned $1.04 earnings per share. On average, equities analysts predict that Globant S.A. will post 5 earnings per share for the current fiscal year.

Globant 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.