Benjamin F. Edwards & Company Inc. Acquires 156 Shares of Globant S.A. (NYSE:GLOB)

Benjamin F. Edwards & Company Inc. lifted its holdings in Globant S.A. (NYSE:GLOB) by 7.3% in the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 2,296 shares of the information technology services provider’s stock after buying an additional 156 shares during the quarter. Benjamin F. Edwards & Company Inc.’s holdings in Globant were worth $409,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Charles Schwab Investment Management Inc. boosted its position in Globant by 6.3% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 41,970 shares of the information technology services provider’s stock valued at $9,988,000 after buying an additional 2,470 shares during the last quarter. Wells Fargo & Company MN boosted its holdings in Globant by 43.4% in the fourth quarter. Wells Fargo & Company MN now owns 37,438 shares of the information technology services provider’s stock valued at $8,909,000 after acquiring an additional 11,323 shares during the last quarter. Franklin Resources Inc. increased its position in Globant by 0.9% in the fourth quarter. Franklin Resources Inc. now owns 12,672 shares of the information technology services provider’s stock worth $3,016,000 after purchasing an additional 111 shares during the period. US Bancorp DE raised its holdings in Globant by 3.5% during the 4th quarter. US Bancorp DE now owns 14,018 shares of the information technology services provider’s stock worth $3,336,000 after purchasing an additional 474 shares during the last quarter. Finally, Hsbc Holdings PLC lifted its position in Globant by 28.8% during the 4th quarter. Hsbc Holdings PLC now owns 57,001 shares of the information technology services provider’s stock valued at $13,648,000 after purchasing an additional 12,729 shares during the period. Institutional investors and hedge funds own 91.60% of the company’s stock.

Globant Stock Down 1.9 %

NYSE GLOB opened at $192.93 on Thursday. The firm has a 50-day moving average price of $195.12 and a two-hundred day moving average price of $186.59. Globant S.A. has a 12-month low of $151.68 and a 12-month high of $251.50. The company has a market capitalization of $8.31 billion, a P/E ratio of 50.64, a P/E/G ratio of 2.38 and a beta of 1.40.

Globant (NYSE:GLOB) last released its earnings results 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 firm had revenue of $587.46 million during the quarter, compared to the consensus estimate of $586.72 million. Globant had a return on equity of 11.68% and a net margin of 7.39%. The company’s revenue was up 18.1% compared to the same quarter last year. During the same period in the prior year, the company posted $1.04 EPS. Equities analysts expect that Globant S.A. will post 5.02 EPS for the current year.

Wall Street Analysts Forecast Growth

A number of research firms recently weighed in on GLOB. Needham & Company LLC boosted their price target on shares of Globant from $200.00 to $245.00 and gave the stock a “buy” rating in a research note on Friday, August 16th. UBS Group reissued a “neutral” rating and issued a $235.00 price target (up previously from $225.00) on shares of Globant in a research note on Tuesday, August 20th. Scotiabank upped their price objective on Globant from $200.00 to $210.00 and gave the company a “sector perform” rating in a report on Wednesday, August 21st. The Goldman Sachs Group began coverage on Globant in a report on Monday, June 24th. They set a “buy” rating and a $200.00 target price on the stock. Finally, Citigroup upped their price target on Globant from $215.00 to $220.00 and gave the company a “buy” rating in a research note on Friday, July 12th. Two research analysts have rated the stock with a sell rating, seven have issued a hold rating and thirteen have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price 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.