Parcion Private Wealth LLC Takes Position in Globant S.A. (NYSE:GLOB)

Parcion Private Wealth LLC purchased a new stake in shares of Globant S.A. (NYSE:GLOB) in the third quarter, according to the company in its most recent filing with the SEC. The firm purchased 1,081 shares of the information technology services provider’s stock, valued at approximately $214,000.

A number of other large investors have also recently modified their holdings of the business. Quarry LP lifted its position in Globant by 529.6% in the 2nd quarter. Quarry LP now owns 170 shares of the information technology services provider’s stock worth $30,000 after buying an additional 143 shares during the last quarter. Ridgewood Investments LLC bought a new stake in Globant in the 2nd quarter worth approximately $31,000. BOKF NA lifted its position in Globant by 15,800.0% in the 1st quarter. BOKF NA now owns 159 shares of the information technology services provider’s stock worth $32,000 after buying an additional 158 shares during the last quarter. ORG Partners LLC lifted its position in Globant by 65.5% in the third quarter. ORG Partners LLC now owns 192 shares of the information technology services provider’s stock valued at $38,000 after purchasing an additional 76 shares during the last quarter. Finally, American National Bank & Trust lifted its position in Globant by 430.2% in the third quarter. American National Bank & Trust now owns 228 shares of the information technology services provider’s stock valued at $45,000 after purchasing an additional 185 shares during the last quarter. Institutional investors own 91.60% of the company’s stock.

Globant Trading Down 0.5 %

NYSE GLOB opened at $218.04 on Friday. Globant S.A. has a 12 month low of $151.68 and a 12 month high of $251.50. The stock has a market cap of $9.40 billion, a P/E ratio of 56.93, a P/E/G ratio of 2.70 and a beta of 1.39. The stock’s fifty day moving average price is $202.75 and its 200-day moving average price is $187.37.

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 firm had revenue of $587.46 million for the quarter, compared to analysts’ expectations of $586.72 million. Globant had a return on equity of 11.68% and a net margin of 7.39%. The company’s quarterly revenue was up 18.1% on a year-over-year basis. During the same period in the prior year, the firm posted $1.04 earnings per share. As a group, analysts forecast that Globant S.A. will post 5.02 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several brokerages have weighed in on GLOB. Deutsche Bank Aktiengesellschaft began coverage on Globant in a research report on Thursday, August 22nd. They issued a “hold” rating and a $210.00 price objective for the company. Needham & Company LLC boosted their price objective on Globant from $200.00 to $245.00 and gave the company a “buy” rating in a research report on Friday, August 16th. TD Cowen boosted their price objective on Globant from $220.00 to $230.00 and gave the company a “buy” rating in a research report on Friday, August 16th. Scotiabank boosted their price objective on Globant from $200.00 to $210.00 and gave the company a “sector perform” rating in a research report on Wednesday, August 21st. Finally, Citigroup boosted their target price on Globant from $215.00 to $220.00 and gave the company a “buy” rating in a research note on Friday, July 12th. One analyst has rated the stock with a sell rating, seven have given a hold rating and thirteen have given a buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $224.00.

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.