Verdence Capital Advisors LLC Acquires 2,425 Shares of Globant S.A. (NYSE:GLOB)

Verdence Capital Advisors LLC lifted its stake in shares of Globant S.A. (NYSE:GLOB - Free Report) by 48.9% in the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 7,388 shares of the information technology services provider's stock after acquiring an additional 2,425 shares during the period. Verdence Capital Advisors LLC's holdings in Globant were worth $1,464,000 at the end of the most recent quarter.

Several other large investors also recently made changes to their positions in GLOB. Quarry LP increased its position in shares of Globant by 529.6% during the second quarter. Quarry LP now owns 170 shares of the information technology services provider's stock worth $30,000 after acquiring an additional 143 shares in the last quarter. Ridgewood Investments LLC bought a new stake in shares of Globant during the second quarter worth $31,000. BOKF NA increased its position in shares of Globant by 15,800.0% during 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 in the last quarter. ORG Partners LLC increased its position in shares of Globant by 65.5% during the third quarter. ORG Partners LLC now owns 192 shares of the information technology services provider's stock worth $38,000 after acquiring an additional 76 shares in the last quarter. Finally, American National Bank & Trust increased its position 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 worth $45,000 after acquiring an additional 185 shares in the last quarter. Institutional investors own 91.60% of the company's stock.

Globant Stock Performance

Shares of GLOB stock traded down $2.65 during midday trading on Friday, hitting $231.36. 455,899 shares of the company were exchanged, compared to its average volume of 394,257. The firm has a market capitalization of $9.97 billion, a P/E ratio of 60.41, a PEG ratio of 2.69 and a beta of 1.39. The firm's 50 day moving average price is $206.06 and its two-hundred day moving average price is $189.47. Globant S.A. has a 52 week low of $151.68 and a 52 week high of $251.50.

Globant (NYSE:GLOB - Get Free Report) last announced its earnings results on Thursday, August 15th. The information technology services provider reported $1.51 EPS for the quarter, topping the consensus estimate of $1.50 by $0.01. The business had revenue of $587.46 million during the quarter, compared to the consensus estimate of $586.72 million. Globant had a net margin of 7.39% and a return on equity of 11.68%. Globant's revenue was up 18.1% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $1.04 EPS. Analysts expect that Globant S.A. will post 5.06 EPS for the current year.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently issued reports on GLOB shares. TD Cowen increased their price objective on shares of Globant from $220.00 to $230.00 and gave the stock a "buy" rating in a research report on Friday, August 16th. StockNews.com raised shares of Globant from a "sell" rating to a "hold" rating in a research report on Friday. Canaccord Genuity Group raised their target price on shares of Globant from $175.00 to $205.00 and gave the company a "hold" rating in a research report on Wednesday, August 21st. JPMorgan Chase & Co. raised their target price on shares of Globant from $237.00 to $248.00 and gave the company an "overweight" rating in a research report on Wednesday, October 30th. Finally, Needham & Company LLC raised their target price on shares of Globant from $200.00 to $245.00 and gave the company a "buy" rating in a research report on Friday, August 16th. One investment analyst has rated the stock with a sell rating, seven have issued a hold rating and thirteen have assigned a buy rating to the company's stock. According to data from MarketBeat, the company has a consensus rating of "Moderate Buy" and an average target price of $226.21.

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.