Commonwealth Equity Services LLC Has $946,000 Stock Holdings in Globant S.A. (NYSE:GLOB)

Commonwealth Equity Services LLC trimmed its position in shares of Globant S.A. (NYSE:GLOB) by 9.3% during the second quarter, HoldingsChannel.com reports. The firm owned 5,308 shares of the information technology services provider’s stock after selling 546 shares during the period. Commonwealth Equity Services LLC’s holdings in Globant were worth $946,000 at the end of the most recent quarter.

A number of other hedge funds have also recently made changes to their positions in the company. Hantz Financial Services Inc. acquired a new stake in shares of Globant during the second quarter valued at about $1,591,000. Ridgewood Investments LLC bought a new position in shares of Globant during the second quarter worth about $31,000. Liontrust Investment Partners LLP raised its position in shares of Globant by 67.1% during the second quarter. Liontrust Investment Partners LLP now owns 8,038 shares of the information technology services provider’s stock worth $1,433,000 after acquiring an additional 3,228 shares during the last quarter. Verdence Capital Advisors LLC raised its position in shares of Globant by 15.9% during the second quarter. Verdence Capital Advisors LLC now owns 4,963 shares of the information technology services provider’s stock worth $885,000 after acquiring an additional 682 shares during the last quarter. Finally, Sara Bay Financial raised its position in shares of Globant by 1.6% during the second quarter. Sara Bay Financial now owns 43,585 shares of the information technology services provider’s stock worth $7,769,000 after acquiring an additional 670 shares during the last quarter. 91.60% of the stock is owned by institutional investors and hedge funds.

Globant Price Performance

Shares of GLOB opened at $192.41 on Wednesday. The firm has a market cap of $8.29 billion, a PE ratio of 50.50, a PEG ratio of 2.49 and a beta of 1.40. The stock’s fifty day moving average price is $195.12 and its two-hundred day moving average price is $187.26. Globant S.A. has a 1 year low of $151.68 and a 1 year high of $251.50.

Globant (NYSE:GLOB) last released its quarterly earnings data 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%. The firm’s revenue for the quarter was up 18.1% compared to the same quarter last year. During the same period in the previous year, the company posted $1.04 EPS. Sell-side analysts anticipate that Globant S.A. will post 5.01 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of equities analysts have recently issued reports on GLOB shares. Canaccord Genuity Group raised their price objective on Globant from $175.00 to $205.00 and gave the stock a “hold” rating in a research report on Wednesday, August 21st. Deutsche Bank Aktiengesellschaft began coverage on Globant in a report on Thursday, August 22nd. They issued a “hold” rating and a $210.00 target price for the company. The Goldman Sachs Group began coverage on Globant in a report on Monday, June 24th. They issued a “buy” rating and a $200.00 target price for the company. UBS Group reiterated a “neutral” rating and issued a $235.00 target price (up from $225.00) on shares of Globant in a report on Tuesday, August 20th. Finally, StockNews.com downgraded Globant from a “hold” rating to a “sell” rating in a report on Tuesday, August 27th. Two research analysts have rated the stock with a sell rating, seven have assigned a hold rating and thirteen have issued a buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $222.90.

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.