Atria Wealth Solutions Inc. Boosts Holdings in Globant S.A. (NYSE:GLOB)

Atria Wealth Solutions Inc. grew its position in Globant S.A. (NYSE:GLOB) by 32.4% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 4,356 shares of the information technology services provider’s stock after buying an additional 1,067 shares during the period. Atria Wealth Solutions Inc.’s holdings in Globant were worth $513,000 as of its most recent SEC filing.

Several other hedge funds have also made changes to their positions in the company. Victory Capital Management Inc. boosted its position in shares of Globant by 6.2% during the 1st quarter. Victory Capital Management Inc. now owns 1,704,973 shares of the information technology services provider’s stock worth $200,709,000 after purchasing an additional 98,863 shares during the period. Capital International Investors boosted its position in shares of Globant by 13.1% during the 4th quarter. Capital International Investors now owns 1,700,519 shares of the information technology services provider’s stock worth $364,723,000 after purchasing an additional 197,064 shares during the period. Manning & Napier Advisors LLC boosted its position in shares of Globant by 86.3% during the 1st quarter. Manning & Napier Advisors LLC now owns 907,659 shares of the information technology services provider’s stock worth $106,850,000 after purchasing an additional 420,382 shares during the period. Westfield Capital Management Co. LP boosted its position in shares of Globant by 209.0% during the 1st quarter. Westfield Capital Management Co. LP now owns 820,445 shares of the information technology services provider’s stock worth $96,583,000 after purchasing an additional 554,938 shares during the period. Finally, Ameriprise Financial Inc. boosted its position in shares of Globant by 5.1% during the 4th quarter. Ameriprise Financial Inc. now owns 560,747 shares of the information technology services provider’s stock worth $120,235,000 after purchasing an additional 27,140 shares during the period. Hedge funds and other institutional investors own 91.60% of the company’s stock.

Analysts Set New Price Targets

A number of research firms recently weighed in on GLOB. Needham & Company LLC lowered their price objective on shares of Globant from $130.00 to $115.00 and set a “buy” rating for the company in a research report on Friday, May 16th. Susquehanna lowered their price objective on shares of Globant from $225.00 to $160.00 and set a “positive” rating for the company in a research report on Wednesday, April 23rd. Piper Sandler cut shares of Globant from an “overweight” rating to a “neutral” rating and lowered their price objective for the stock from $154.00 to $116.00 in a research report on Friday, May 16th. Deutsche Bank Aktiengesellschaft began coverage on shares of Globant in a research report on Thursday, July 17th. They set a “hold” rating and a $87.00 price objective for the company. Finally, Guggenheim reiterated a “buy” rating and set a $125.00 target price on shares of Globant in a report on Tuesday, June 10th. Seven equities research analysts have rated the stock with a hold rating and ten have given a buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $165.69.

Globant Price Performance

Shares of GLOB opened at $79.45 on Thursday. Globant S.A. has a twelve month low of $73.98 and a twelve month high of $238.32. The firm’s fifty day simple moving average is $88.70 and its 200-day simple moving average is $121.88. The firm has a market capitalization of $3.50 billion, a price-to-earnings ratio of 23.51, a PEG ratio of 3.12 and a beta of 1.16. The company has a current ratio of 1.56, a quick ratio of 1.56 and a debt-to-equity ratio of 0.13.

Globant (NYSE:GLOB) last announced its quarterly earnings data on Thursday, May 15th. The information technology services provider reported $1.50 earnings per share for the quarter, missing analysts’ consensus estimates of $1.58 by ($0.08). Globant had a net margin of 6.16% and a return on equity of 11.08%. The firm had revenue of $611.09 million during the quarter, compared to analyst estimates of $622.18 million. During the same quarter in the previous year, the business posted $1.53 earnings per share. Globant’s revenue for the quarter was up 7.0% compared to the same quarter last year. Equities analysts forecast that Globant S.A. will post 5.73 EPS for the current fiscal year.

Globant 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.