Verdence Capital Advisors LLC Purchases 758 Shares of Globant S.A. (NYSE:GLOB)

Verdence Capital Advisors LLC grew its stake in Globant S.A. (NYSE:GLOB) by 10.3% in the fourth quarter, HoldingsChannel.com reports. The institutional investor owned 8,146 shares of the information technology services provider’s stock after buying an additional 758 shares during the period. Verdence Capital Advisors LLC’s holdings in Globant were worth $1,747,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Creative Planning increased its position in Globant by 20.5% in the third quarter. Creative Planning now owns 2,062 shares of the information technology services provider’s stock worth $409,000 after buying an additional 351 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank purchased a new stake in Globant in the third quarter worth about $11,145,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its position in Globant by 18.6% in the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 53,816 shares of the information technology services provider’s stock worth $10,663,000 after buying an additional 8,427 shares in the last quarter. Principal Financial Group Inc. increased its position in Globant by 121.3% in the third quarter. Principal Financial Group Inc. now owns 30,351 shares of the information technology services provider’s stock worth $6,014,000 after buying an additional 16,639 shares in the last quarter. Finally, Brown Brothers Harriman & Co. increased its position in Globant by 32.1% in the third quarter. Brown Brothers Harriman & Co. now owns 204,135 shares of the information technology services provider’s stock worth $40,447,000 after buying an additional 49,597 shares in the last quarter. Hedge funds and other institutional investors own 91.60% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts have commented on GLOB shares. Piper Sandler reduced their price target on Globant from $237.00 to $230.00 and set an “overweight” rating for the company in a research report on Friday, February 21st. Redburn Atlantic upgraded Globant from a “sell” rating to a “neutral” rating and increased their target price for the stock from $140.00 to $150.00 in a research report on Tuesday, February 25th. StockNews.com upgraded Globant from a “sell” rating to a “hold” rating in a research report on Sunday, November 24th. Jefferies Financial Group increased their target price on Globant from $240.00 to $255.00 and gave the stock a “buy” rating in a research report on Tuesday, January 21st. Finally, UBS Group cut their target price on Globant from $217.00 to $190.00 and set a “neutral” rating for the company in a research report on Wednesday, February 26th. Six analysts have rated the stock with a hold rating and thirteen have given a buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $221.39.

Globant Price Performance

NYSE:GLOB opened at $147.07 on Thursday. The firm has a market capitalization of $6.34 billion, a price-to-earnings ratio of 39.53, a PEG ratio of 2.38 and a beta of 1.39. Globant S.A. has a 1 year low of $140.88 and a 1 year high of $238.32. The business has a 50 day simple moving average of $202.74 and a 200-day simple moving average of $208.54.

Globant (NYSE:GLOB) last posted its quarterly earnings data on Thursday, February 20th. The information technology services provider reported $1.36 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.75 by ($0.39). The company had revenue of $642.48 million during the quarter, compared to the consensus estimate of $644.42 million. Globant had a net margin of 6.86% and a return on equity of 11.83%. As a group, analysts expect that Globant S.A. will post 5.73 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.