Cetera Investment Advisers Acquires 1,187 Shares of Globant S.A. (NYSE:GLOB)

Cetera Investment Advisers grew its holdings in shares of Globant S.A. (NYSE:GLOB) by 5.9% during the second quarter, Holdings Channel.com reports. The institutional investor owned 21,327 shares of the information technology services provider’s stock after purchasing an additional 1,187 shares during the quarter. Cetera Investment Advisers’ holdings in Globant were worth $3,802,000 at the end of the most recent quarter.

A number of other large investors also recently modified their holdings of GLOB. Granahan Investment Management LLC lifted its holdings in shares of Globant by 10.9% in the 4th quarter. Granahan Investment Management LLC now owns 220,039 shares of the information technology services provider’s stock worth $52,365,000 after purchasing an additional 21,645 shares in the last quarter. Gillson Capital LP bought a new position in shares of Globant in the 4th quarter worth $18,281,000. Virtu Financial LLC lifted its holdings in shares of Globant by 119.0% in the 4th quarter. Virtu Financial LLC now owns 2,803 shares of the information technology services provider’s stock worth $667,000 after purchasing an additional 1,523 shares in the last quarter. Accent Capital Management LLC bought a new position in shares of Globant in the 4th quarter worth $29,000. Finally, HighPoint Advisor Group LLC bought a new position in shares of Globant in the 4th quarter worth $450,000. 91.60% of the stock is currently owned by institutional investors.

Globant Stock Down 0.3 %

Shares of NYSE GLOB opened at $211.57 on Thursday. The business has a 50-day simple moving average of $195.94 and a two-hundred day simple moving average of $185.71. The company has a market cap of $9.12 billion, a P/E ratio of 55.93, a P/E/G ratio of 2.38 and a beta of 1.39. Globant S.A. has a 52 week low of $151.68 and a 52 week high of $251.50.

Globant (NYSE:GLOB) last announced its quarterly 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 business 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 business’s quarterly revenue was up 18.1% on a year-over-year basis. During the same period in the previous year, the firm earned $1.04 EPS. Equities research analysts anticipate that Globant S.A. will post 5.02 EPS for the current year.

Analyst Ratings Changes

GLOB has been the topic of a number of recent research reports. KeyCorp increased their target price on Globant from $220.00 to $235.00 and gave the stock an “overweight” rating in a report on Friday, August 16th. Scotiabank increased their price target on Globant from $200.00 to $210.00 and gave the company a “sector perform” rating in a research report on Wednesday, August 21st. Canaccord Genuity Group increased their price target on Globant from $175.00 to $205.00 and gave the company a “hold” rating in a research report on Wednesday, August 21st. Piper Sandler reissued an “overweight” rating and issued a $240.00 price target (up from $238.00) on shares of Globant in a research report on Friday, August 16th. Finally, StockNews.com lowered Globant from a “hold” rating to a “sell” rating in a research report on Tuesday, August 27th. 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. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $222.90.

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.