Victory Capital Management Inc. Cuts Stake in Globant S.A. (NYSE:GLOB)

Victory Capital Management Inc. cut its holdings in Globant S.A. (NYSE:GLOB) by 2.8% during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 78,741 shares of the information technology services provider’s stock after selling 2,257 shares during the period. Victory Capital Management Inc.’s holdings in Globant were worth $14,036,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in the business. 17 Capital Partners LLC lifted its holdings in shares of Globant by 1.6% in the second quarter. 17 Capital Partners LLC now owns 3,455 shares of the information technology services provider’s stock worth $616,000 after buying an additional 55 shares in the last quarter. Benjamin F. Edwards & Company Inc. increased its holdings in Globant by 3.9% in 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 acquiring an additional 81 shares during the last quarter. Envestnet Portfolio Solutions Inc. increased its holdings in Globant by 1.0% in the 4th quarter. Envestnet Portfolio Solutions Inc. now owns 9,205 shares of the information technology services provider’s stock valued at $2,191,000 after acquiring an additional 89 shares during the last quarter. Robeco Institutional Asset Management B.V. lifted its stake in Globant by 5.9% in the 4th quarter. Robeco Institutional Asset Management B.V. now owns 1,800 shares of the information technology services provider’s stock worth $428,000 after purchasing an additional 100 shares in the last quarter. Finally, Franklin Resources Inc. boosted its holdings in shares of Globant by 0.9% during the 4th quarter. Franklin Resources Inc. now owns 12,672 shares of the information technology services provider’s stock valued at $3,016,000 after purchasing an additional 111 shares during the last quarter. 91.60% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several brokerages have recently issued reports on GLOB. Canaccord Genuity Group lifted their target price on Globant from $175.00 to $205.00 and gave the stock a “hold” rating in a report on Wednesday, August 21st. Redburn Atlantic initiated coverage on Globant in a report on Friday, May 24th. They set a “sell” rating and a $135.00 price objective on the stock. Piper Sandler reiterated an “overweight” rating and set a $240.00 target price (up from $238.00) on shares of Globant in a research report on Friday, August 16th. The Goldman Sachs Group assumed coverage on shares of Globant in a research report on Monday, June 24th. They issued a “buy” rating and a $200.00 price target on the stock. Finally, Mizuho lowered their price objective on shares of Globant from $279.00 to $252.00 and set a “buy” rating for the company in a research report on Wednesday, May 22nd. Two equities research analysts have rated the stock with a sell rating, seven have given a hold rating and thirteen have given a buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $222.90.

Globant Trading Down 0.2 %

Shares of GLOB opened at $197.00 on Friday. The firm has a fifty day moving average price of $194.49 and a 200-day moving average price of $188.17. The firm has a market capitalization of $8.49 billion, a P/E ratio of 51.71, a P/E/G ratio of 2.49 and a beta of 1.40. Globant S.A. has a 12-month low of $151.68 and a 12-month high of $251.50.

Globant (NYSE:GLOB) last issued its earnings results on Thursday, August 15th. The information technology services provider reported $1.51 EPS for the quarter, topping analysts’ consensus estimates of $1.50 by $0.01. Globant had a net margin of 7.39% and a return on equity of 11.68%. The business had revenue of $587.46 million for the quarter, compared to the consensus estimate of $586.72 million. During the same period in the prior year, the firm earned $1.04 EPS. The company’s revenue for the quarter was up 18.1% compared to the same quarter last year. Analysts predict that Globant S.A. will post 5.01 earnings per share for the current 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.