Bank of Montreal Can Has $2.59 Million Stock Holdings in Globant S.A. (NYSE:GLOB)

Bank of Montreal Can lessened its holdings in Globant S.A. (NYSE:GLOB) by 7.9% in the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 14,532 shares of the information technology services provider’s stock after selling 1,245 shares during the period. Bank of Montreal Can’s holdings in Globant were worth $2,591,000 at the end of the most recent quarter.

Several other hedge funds have also recently added to or reduced their stakes in GLOB. Accent Capital Management LLC bought a new stake in Globant during the fourth quarter worth about $29,000. Ridgewood Investments LLC bought a new stake in Globant during the second quarter worth about $31,000. BOKF NA grew its stake in Globant by 15,800.0% during the first quarter. BOKF NA now owns 159 shares of the information technology services provider’s stock worth $32,000 after buying an additional 158 shares during the last quarter. RiverPark Advisors LLC bought a new stake in Globant during the first quarter worth about $54,000. Finally, GAMMA Investing LLC grew its stake in Globant by 82.0% during the second quarter. GAMMA Investing LLC now owns 506 shares of the information technology services provider’s stock worth $90,000 after buying an additional 228 shares during the last quarter. Institutional investors and hedge funds own 91.60% of the company’s stock.

Globant Stock Performance

GLOB opened at $196.44 on Friday. The firm’s fifty day moving average is $195.56 and its two-hundred day moving average is $186.04. The firm has a market cap of $8.46 billion, a PE ratio of 51.56, a price-to-earnings-growth ratio of 2.38 and a beta of 1.40. Globant S.A. has a twelve month low of $151.68 and a twelve month high of $251.50.

Globant (NYSE:GLOB) last issued its quarterly earnings data 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 analyst estimates of $586.72 million. During the same period last year, the business posted $1.04 earnings per share. The firm’s quarterly revenue was up 18.1% on a year-over-year basis. Equities analysts forecast that Globant S.A. will post 5.02 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Several analysts have recently commented on GLOB shares. Jefferies Financial Group increased their price target on shares of Globant from $235.00 to $240.00 and gave the company a “buy” rating in a research note on Monday, September 9th. Deutsche Bank Aktiengesellschaft started coverage on shares of Globant in a research note on Thursday, August 22nd. They set a “hold” rating and a $210.00 price target on the stock. The Goldman Sachs Group started coverage on shares of Globant in a research note on Monday, June 24th. They set a “buy” rating and a $200.00 price target on the stock. TD Cowen increased their price target on shares of Globant from $220.00 to $230.00 and gave the company a “buy” rating in a research note on Friday, August 16th. Finally, UBS Group reissued a “neutral” rating and set a $235.00 price target (up from $225.00) on shares of Globant in a research note on Tuesday, August 20th. Two analysts have rated the stock with a sell rating, seven have given a hold rating and thirteen have issued a buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $222.90.

About Globant

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.