TD Asset Management Inc Grows Holdings in Globant S.A. (NYSE:GLOB)

TD Asset Management Inc grew its holdings in shares of Globant S.A. (NYSE:GLOB) by 15.3% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 123,520 shares of the information technology services provider’s stock after buying an additional 16,434 shares during the quarter. TD Asset Management Inc owned 0.28% of Globant worth $14,541,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently made changes to their positions in GLOB. Physician Wealth Advisors Inc. raised its position in shares of Globant by 140.9% during the 1st quarter. Physician Wealth Advisors Inc. now owns 265 shares of the information technology services provider’s stock valued at $31,000 after acquiring an additional 155 shares in the last quarter. Bessemer Group Inc. acquired a new stake in shares of Globant during the 1st quarter valued at approximately $39,000. Pilgrim Partners Asia Pte Ltd acquired a new stake in shares of Globant during the 4th quarter valued at approximately $81,000. Farther Finance Advisors LLC raised its position in shares of Globant by 186.7% during the 1st quarter. Farther Finance Advisors LLC now owns 387 shares of the information technology services provider’s stock valued at $45,000 after acquiring an additional 252 shares in the last quarter. Finally, Signaturefd LLC raised its position in shares of Globant by 29.7% during the 1st quarter. Signaturefd LLC now owns 389 shares of the information technology services provider’s stock valued at $46,000 after acquiring an additional 89 shares in the last quarter. 91.60% of the stock is currently owned by hedge funds and other institutional investors.

Globant Trading Down 1.4%

NYSE:GLOB opened at $89.58 on Thursday. Globant S.A. has a 1 year low of $82.39 and a 1 year high of $238.32. The stock has a market cap of $3.94 billion, a price-to-earnings ratio of 26.50, a PEG ratio of 3.20 and a beta of 1.20. The business has a fifty day moving average of $92.84 and a 200-day moving average of $130.97. The company has a debt-to-equity ratio of 0.13, a quick ratio of 1.56 and a current ratio of 1.56.

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

Analyst Upgrades and Downgrades

GLOB has been the topic of several research reports. Deutsche Bank Aktiengesellschaft initiated coverage on Globant in a research report on Thursday, July 17th. They set a “hold” rating and a $87.00 price target on the stock. Mizuho set a $153.00 price target on Globant and gave the company an “outperform” rating in a research report on Monday, May 19th. Guggenheim restated a “buy” rating and set a $125.00 price objective on shares of Globant in a research note on Tuesday, June 10th. Piper Sandler downgraded 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 note on Friday, May 16th. Finally, Scotiabank upgraded Globant from a “sector perform” rating to a “sector outperform” rating and set a $115.00 price objective for the company in a research note on Monday, July 21st. Seven analysts have rated the stock with a hold rating and ten have given a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $165.69.

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.