Globant S.A. (NYSE:GLOB) Stock Holdings Lowered by Marietta Investment Partners LLC

Marietta Investment Partners LLC lowered its position in shares of Globant S.A. (NYSE:GLOB) by 9.9% in the 2nd quarter, Holdings Channel reports. The fund owned 2,217 shares of the information technology services provider’s stock after selling 243 shares during the period. Marietta Investment Partners LLC’s holdings in Globant were worth $395,000 as of its most recent filing with the SEC.

Several other institutional investors have also modified their holdings of the company. 17 Capital Partners LLC grew its position in shares of Globant by 1.6% during the second quarter. 17 Capital Partners LLC now owns 3,455 shares of the information technology services provider’s stock worth $616,000 after acquiring an additional 55 shares during the last quarter. Benjamin F. Edwards & Company Inc. lifted its holdings in Globant by 3.9% in 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 period. Franklin Resources Inc. lifted 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 worth $3,016,000 after purchasing an additional 111 shares during the period. Parkside Financial Bank & Trust lifted its holdings in Globant by 6.3% in 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 during the period. Finally, Accent Capital Management LLC acquired a new stake in Globant in the fourth quarter worth about $29,000. Institutional investors own 91.60% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts recently weighed in on the stock. StockNews.com downgraded shares of Globant from a “hold” rating to a “sell” rating in a report on Tuesday, August 27th. UBS Group reaffirmed a “neutral” rating and issued a $235.00 price objective (up previously from $225.00) on shares of Globant in a report on Tuesday, August 20th. Deutsche Bank Aktiengesellschaft initiated coverage on shares of Globant in a report on Thursday, August 22nd. They issued a “hold” rating and a $210.00 price objective for the company. Citigroup upped their price target on shares of Globant from $215.00 to $220.00 and gave the company a “buy” rating in a report on Friday, July 12th. Finally, TD Cowen upped their price target on shares of Globant from $220.00 to $230.00 and gave the company a “buy” rating in a report on Friday, August 16th. 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 data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $222.90.

Globant Trading Down 2.3 %

GLOB stock opened at $189.10 on Monday. Globant S.A. has a one year low of $151.68 and a one year high of $251.50. The firm has a market capitalization of $8.15 billion, a PE ratio of 49.63, a P/E/G ratio of 2.49 and a beta of 1.40. The firm has a 50-day moving average of $195.34 and a two-hundred day moving average of $186.79.

Globant (NYSE:GLOB) last posted its quarterly earnings data on Thursday, August 15th. The information technology services provider reported $1.51 EPS for the quarter, beating 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 company had revenue of $587.46 million during the quarter, compared to analyst estimates of $586.72 million. During the same period in the prior year, the firm earned $1.04 earnings per share. The business’s quarterly revenue was up 18.1% on a year-over-year basis. On average, equities research analysts anticipate that Globant S.A. will post 5.01 earnings per share 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.