NBC Securities Inc. Reduces Stock Holdings in Globant S.A. (NYSE:GLOB)

NBC Securities Inc. reduced its holdings in shares of Globant S.A. (NYSE:GLOB) by 2.5% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 4,367 shares of the information technology services provider’s stock after selling 111 shares during the quarter. NBC Securities Inc.’s holdings in Globant were worth $865,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Quarry LP increased its stake in shares of Globant by 529.6% during the 2nd quarter. Quarry LP now owns 170 shares of the information technology services provider’s stock worth $30,000 after purchasing an additional 143 shares in the last quarter. Ridgewood Investments LLC purchased a new position in Globant during the second quarter worth $31,000. BOKF NA raised its holdings in shares of Globant by 15,800.0% in the first quarter. BOKF NA now owns 159 shares of the information technology services provider’s stock worth $32,000 after acquiring an additional 158 shares during the last quarter. ORG Partners LLC lifted its position in shares of Globant by 65.5% in the third quarter. ORG Partners LLC now owns 192 shares of the information technology services provider’s stock valued at $38,000 after acquiring an additional 76 shares in the last quarter. Finally, American National Bank & Trust boosted its stake in shares of Globant by 430.2% during the third quarter. American National Bank & Trust now owns 228 shares of the information technology services provider’s stock valued at $45,000 after acquiring an additional 185 shares during the last quarter. Institutional investors and hedge funds own 91.60% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts have issued reports on GLOB shares. The Goldman Sachs Group initiated coverage on shares of Globant in a report on Monday, June 24th. They issued a “buy” rating and a $200.00 target price on the stock. UBS Group reissued a “neutral” rating and issued a $235.00 price target (up from $225.00) on shares of Globant in a research note on Tuesday, August 20th. JPMorgan Chase & Co. upped their price objective on shares of Globant from $226.00 to $237.00 and gave the company an “overweight” rating in a research note on Friday, September 6th. Citigroup lifted their target price on Globant from $215.00 to $220.00 and gave the company a “buy” rating in a report on Friday, July 12th. Finally, Needham & Company LLC upped their price target on Globant from $200.00 to $245.00 and gave the stock a “buy” rating in a research note on Friday, August 16th. Two investment analysts have rated the stock with a sell rating, six have issued a hold rating and thirteen have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $224.00.

Globant Stock Performance

Shares of NYSE GLOB opened at $216.36 on Thursday. Globant S.A. has a 1 year low of $151.68 and a 1 year high of $251.50. The stock’s 50-day simple moving average is $198.69 and its 200-day simple moving average is $186.24. The firm has a market cap of $9.32 billion, a price-to-earnings ratio of 56.79, a PEG ratio of 2.61 and a beta of 1.39.

Globant (NYSE:GLOB) last announced its earnings results 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. Globant had a return on equity of 11.68% and a net margin of 7.39%. The company had revenue of $587.46 million for the quarter, compared to analyst estimates of $586.72 million. During the same period in the prior year, the company posted $1.04 EPS. Globant’s quarterly revenue was up 18.1% on a year-over-year basis. As a group, research analysts predict that Globant S.A. will post 5.02 EPS 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.