Victory Capital Management Inc. Lowers Stake in Globant S.A. (NYSE:GLOB)

Victory Capital Management Inc. lowered its holdings in shares of Globant S.A. (NYSE:GLOB) by 2.8% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 78,741 shares of the information technology services provider’s stock after selling 2,257 shares during the period. Victory Capital Management Inc. owned approximately 0.18% of Globant worth $14,036,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also bought and sold shares of the business. Seven Eight Capital LP bought a new position in Globant in the 1st quarter worth about $2,138,000. Vanguard Group Inc. raised its holdings in Globant by 7.9% in the first quarter. Vanguard Group Inc. now owns 112,339 shares of the information technology services provider’s stock worth $22,681,000 after buying an additional 8,267 shares during the last quarter. Cetera Investment Advisers lifted its stake in shares of Globant by 1,079.8% in the first quarter. Cetera Investment Advisers now owns 20,140 shares of the information technology services provider’s stock worth $4,066,000 after buying an additional 18,433 shares in the last quarter. Franklin Resources Inc. grew its holdings in shares of Globant by 0.9% during 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 last quarter. Finally, Capital International Investors increased its position in shares of Globant by 0.5% during the fourth quarter. Capital International Investors now owns 1,323,859 shares of the information technology services provider’s stock valued at $315,052,000 after acquiring an additional 6,707 shares in the last quarter. Hedge funds and other institutional investors own 91.60% of the company’s stock.

Wall Street Analysts Forecast Growth

GLOB has been the topic of several analyst reports. Piper Sandler reaffirmed an “overweight” rating and issued a $240.00 price objective (up from $238.00) on shares of Globant in a research report on Friday, August 16th. JPMorgan Chase & Co. upped their price target on Globant from $226.00 to $237.00 and gave the company an “overweight” rating in a report on Friday, September 6th. 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 for the company. The Goldman Sachs Group assumed coverage on Globant in a research report on Monday, June 24th. They issued a “buy” rating and a $200.00 target price for the company. Finally, TD Cowen raised 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 investment analysts have rated the stock with a sell rating, seven have issued a hold rating and thirteen have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $222.90.

Globant Stock Down 0.2 %

NYSE GLOB opened at $197.00 on Friday. Globant S.A. has a 52 week low of $151.68 and a 52 week high of $251.50. The company has a market capitalization of $8.49 billion, a P/E ratio of 51.71, a price-to-earnings-growth ratio of 2.49 and a beta of 1.40. The stock’s 50-day moving average price is $194.49 and its 200-day moving average price is $188.17.

Globant (NYSE:GLOB) last released its earnings results on Thursday, August 15th. The information technology services provider reported $1.51 EPS for the quarter, topping analysts’ consensus estimates of $1.50 by $0.01. The company had revenue of $587.46 million for the quarter, compared to analysts’ expectations of $586.72 million. Globant had a net margin of 7.39% and a return on equity of 11.68%. The firm’s revenue was up 18.1% compared to the same quarter last year. During the same quarter last year, the business earned $1.04 EPS. Research analysts anticipate that Globant S.A. will post 5.01 EPS for the current 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.