Globant S.A. (NYSE:GLOB) Shares Sold by Federated Hermes Inc.

Federated Hermes Inc. decreased its position in Globant S.A. (NYSE:GLOB) by 76.3% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 7,500 shares of the information technology services provider’s stock after selling 24,123 shares during the period. Federated Hermes Inc.’s holdings in Globant were worth $1,337,000 as of its most recent SEC filing.

A number of other hedge funds have also modified their holdings of the business. 17 Capital Partners LLC boosted its holdings in 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 valued at $616,000 after purchasing an additional 55 shares in the last quarter. Benjamin F. Edwards & Company Inc. boosted its holdings in shares of Globant by 3.9% during the first quarter. Benjamin F. Edwards & Company Inc. now owns 2,140 shares of the information technology services provider’s stock worth $432,000 after purchasing an additional 81 shares during the last quarter. Robeco Institutional Asset Management B.V. increased its position in Globant by 5.9% during the fourth 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 during the last quarter. Franklin Resources Inc. raised its holdings 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 valued at $3,016,000 after buying an additional 111 shares during the period. Finally, Parkside Financial Bank & Trust lifted its stake in shares of Globant by 6.3% during the second quarter. Parkside Financial Bank & Trust now owns 1,977 shares of the information technology services provider’s stock worth $352,000 after purchasing an additional 118 shares in the last quarter. 91.60% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of research analysts have commented on the stock. Scotiabank increased their price objective on shares of Globant from $200.00 to $210.00 and gave the company a “sector perform” rating in a research note on Wednesday, August 21st. Redburn Atlantic initiated coverage on shares of Globant in a report on Friday, May 24th. They set a “sell” rating and a $135.00 target price for the company. Canaccord Genuity Group increased their price objective on Globant from $175.00 to $205.00 and gave the stock a “hold” rating in a research note on Wednesday, August 21st. Deutsche Bank Aktiengesellschaft assumed coverage on Globant in a report on Thursday, August 22nd. They issued a “hold” rating and a $210.00 price objective on the stock. Finally, The Goldman Sachs Group initiated coverage on shares of Globant in a research note on Monday, June 24th. They issued a “buy” rating and a $200.00 target price on the stock. Two investment analysts have rated the stock with a sell rating, seven have given a hold rating and thirteen have assigned a buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $222.90.

Globant Stock Performance

GLOB opened at $189.06 on Friday. The firm has a market cap of $8.15 billion, a P/E ratio of 49.62, a PEG ratio of 2.49 and a beta of 1.40. The firm has a 50-day moving average of $195.34 and a 200 day moving average of $187.12. Globant S.A. has a fifty-two week low of $151.68 and a fifty-two week 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 earnings per share (EPS) for the quarter, topping 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 the consensus estimate of $586.72 million. During the same quarter last year, the business posted $1.04 earnings per share. The firm’s revenue was up 18.1% compared to the same quarter last year. Equities research analysts predict that Globant S.A. will post 5.01 earnings per share for the current fiscal year.

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.