Globant S.A. (NYSE:GLOB) Shares Sold by Janney Montgomery Scott LLC

Janney Montgomery Scott LLC trimmed its holdings in Globant S.A. (NYSE:GLOB) by 3.9% during the third quarter, Holdings Channel reports. The institutional investor owned 14,687 shares of the information technology services provider’s stock after selling 591 shares during the period. Janney Montgomery Scott LLC’s holdings in Globant were worth $2,910,000 at the end of the most recent quarter.

A number of other hedge funds have also recently added to or reduced their stakes in the business. Seven Eight Capital LP purchased a new stake in shares of Globant during the 1st quarter worth about $2,138,000. Vanguard Group Inc. grew its holdings in shares of Globant by 7.9% during the 1st quarter. Vanguard Group Inc. now owns 112,339 shares of the information technology services provider’s stock worth $22,681,000 after purchasing an additional 8,267 shares during the period. Cetera Investment Advisers grew its holdings in shares of Globant by 1,079.8% during the 1st quarter. Cetera Investment Advisers now owns 20,140 shares of the information technology services provider’s stock worth $4,066,000 after purchasing an additional 18,433 shares during the period. Jupiter Asset Management Ltd. grew its holdings in shares of Globant by 14.6% during the 1st quarter. Jupiter Asset Management Ltd. now owns 42,584 shares of the information technology services provider’s stock worth $8,598,000 after purchasing an additional 5,441 shares during the period. Finally, Brown Brothers Harriman & Co. grew its holdings in shares of Globant by 97.4% during the 2nd quarter. Brown Brothers Harriman & Co. now owns 154,538 shares of the information technology services provider’s stock worth $27,548,000 after purchasing an additional 76,256 shares during the period. 91.60% of the stock is owned by institutional investors and hedge funds.

Globant Stock Up 1.1 %

Shares of GLOB opened at $234.02 on Tuesday. The business’s 50 day moving average is $206.06 and its two-hundred day moving average is $189.52. Globant S.A. has a 52-week low of $151.68 and a 52-week high of $251.50. The firm has a market cap of $10.08 billion, a price-to-earnings ratio of 60.41, a PEG ratio of 2.84 and a beta of 1.39.

Globant (NYSE:GLOB) last announced its earnings results on Thursday, August 15th. The information technology services provider reported $1.51 earnings per share (EPS) 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 analyst estimates of $586.72 million. Globant had a return on equity of 11.68% and a net margin of 7.39%. Globant’s quarterly revenue was up 18.1% on a year-over-year basis. During the same period in the prior year, the company posted $1.04 EPS. On average, equities analysts expect that Globant S.A. will post 5.06 earnings per share for the current fiscal year.

Analyst Ratings Changes

A number of brokerages have recently issued reports on GLOB. Needham & Company LLC boosted their target price on Globant from $200.00 to $245.00 and gave the stock a “buy” rating in a report on Friday, August 16th. TD Cowen boosted their target price on Globant from $220.00 to $230.00 and gave the stock a “buy” rating in a report on Friday, August 16th. Deutsche Bank Aktiengesellschaft began coverage on Globant in a report on Thursday, August 22nd. They issued a “hold” rating and a $210.00 price target for the company. Jefferies Financial Group upped their price target on Globant from $235.00 to $240.00 and gave the stock a “buy” rating in a report on Monday, September 9th. Finally, Citigroup upped their price target on Globant from $240.00 to $251.00 and gave the stock a “buy” rating in a report on Monday, October 28th. One analyst has rated the stock with a sell rating, seven have given a hold rating and twelve have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $227.00.

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.