Globant S.A. (NYSE:GLOB) Shares Sold by Logan Capital Management Inc.

Logan Capital Management Inc. cut its position in Globant S.A. (NYSE:GLOBGet Rating) by 1.2% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 13,425 shares of the information technology services provider’s stock after selling 162 shares during the period. Logan Capital Management Inc.’s holdings in Globant were worth $3,518,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors have also recently added to or reduced their stakes in GLOB. JPMorgan Chase & Co. lifted its position in Globant by 50.9% during the first quarter. JPMorgan Chase & Co. now owns 1,907,474 shares of the information technology services provider’s stock worth $499,893,000 after buying an additional 643,022 shares in the last quarter. abrdn plc lifted its position in Globant by 385.2% during the fourth quarter. abrdn plc now owns 651,501 shares of the information technology services provider’s stock worth $204,630,000 after buying an additional 517,222 shares in the last quarter. 1832 Asset Management L.P. purchased a new position in Globant during the fourth quarter worth approximately $147,279,000. Capital International Investors lifted its position in Globant by 84.7% during the fourth quarter. Capital International Investors now owns 818,071 shares of the information technology services provider’s stock worth $256,948,000 after buying an additional 375,040 shares in the last quarter. Finally, Marshall Wace LLP lifted its position in Globant by 180.4% during the fourth quarter. Marshall Wace LLP now owns 556,277 shares of the information technology services provider’s stock worth $174,720,000 after buying an additional 357,877 shares in the last quarter. Hedge funds and other institutional investors own 88.96% of the company’s stock.

Globant Trading Up 4.9 %

GLOB stock opened at $230.24 on Friday. The company has a market capitalization of $9.64 billion, a PE ratio of 76.49 and a beta of 1.46. Globant S.A. has a 12-month low of $159.56 and a 12-month high of $354.62. The business’s fifty day moving average price is $206.70 and its 200 day moving average price is $214.39.

Globant (NYSE:GLOBGet Rating) last posted its quarterly earnings data on Thursday, August 18th. The information technology services provider reported $1.22 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.20 by $0.02. The firm had revenue of $429.30 million for the quarter, compared to the consensus estimate of $426.22 million. Globant had a return on equity of 11.53% and a net margin of 8.26%. The company’s quarterly revenue was up 40.6% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.71 EPS. Research analysts predict that Globant S.A. will post 4.04 EPS for the current fiscal year.

Wall Street Analyst Weigh In

A number of equities analysts recently commented on the company. Piper Sandler lifted their price objective on Globant from $231.00 to $249.00 and gave the stock an “overweight” rating in a research report on Friday, August 19th. Citigroup reduced their target price on Globant from $350.00 to $265.00 and set a “buy” rating on the stock in a research report on Friday, May 20th. Cowen lifted their target price on Globant from $220.00 to $248.00 and gave the company an “outperform” rating in a research report on Friday, August 19th. Wedbush reduced their target price on Globant to $300.00 in a research report on Friday, May 20th. Finally, Cowen lifted their target price on Globant from $220.00 to $248.00 and gave the company an “outperform” rating in a research report on Friday, August 19th. One research analyst has rated the stock with a hold rating and seven have given a buy rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $265.00.

Globant Company Profile

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Globant SA operates as a technology services company worldwide. It offers e-commerce, new distribution capabilities, augmented revenue management, hyper connected operation, and conversational user experience services through reinvention studios; digital lending, commercial effectiveness, finance, sustainability, regulation analytic, transformation and post-merger integration, and payment and open banking services; and game and graphic engineering, UI and UX design, game as a service, DevOps, and online services, as well as high tech tools.

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Institutional Ownership by Quarter for Globant (NYSE:GLOB)

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