Ridgewood Investments LLC acquired a new position in shares of Globant S.A. (NYSE:GLOB – Free Report) during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 176 shares of the information technology services provider’s stock, valued at approximately $29,000.
Several other large investors also recently added to or reduced their stakes in the stock. Private Advisor Group LLC raised its position in shares of Globant by 5.2% during the 1st quarter. Private Advisor Group LLC now owns 1,283 shares of the information technology services provider’s stock valued at $336,000 after buying an additional 63 shares during the period. PNC Financial Services Group Inc. raised its position in Globant by 29.5% in the first quarter. PNC Financial Services Group Inc. now owns 3,476 shares of the information technology services provider’s stock valued at $910,000 after purchasing an additional 792 shares during the period. Vanguard Group Inc. lifted its stake in shares of Globant by 86.9% in the 1st quarter. Vanguard Group Inc. now owns 141,141 shares of the information technology services provider’s stock valued at $36,988,000 after purchasing an additional 65,635 shares during the last quarter. Loomis Sayles & Co. L P grew its holdings in shares of Globant by 22.2% during the 1st quarter. Loomis Sayles & Co. L P now owns 468 shares of the information technology services provider’s stock worth $123,000 after purchasing an additional 85 shares during the period. Finally, Zions Bancorporation N.A. increased its position in shares of Globant by 36.6% during the 1st quarter. Zions Bancorporation N.A. now owns 2,718 shares of the information technology services provider’s stock worth $712,000 after purchasing an additional 728 shares during the last quarter. 91.91% of the stock is currently owned by hedge funds and other institutional investors.
Analysts Set New Price Targets
A number of research firms have commented on GLOB. Jefferies Financial Group upped their target price on shares of Globant from $198.00 to $227.00 in a research report on Tuesday, June 20th. Needham & Company LLC started coverage on shares of Globant in a research report on Wednesday, April 12th. They set a “buy” rating and a $205.00 price objective for the company. Piper Sandler boosted their target price on Globant from $204.00 to $207.00 in a research report on Friday, May 19th. StockNews.com started coverage on Globant in a research report on Thursday, May 18th. They set a “hold” rating for the company. Finally, KeyCorp dropped their price objective on Globant from $211.00 to $201.00 in a research note on Friday, May 19th. One equities research analyst has rated the stock with a hold rating and nine have issued a buy rating to the stock. According to data from MarketBeat, Globant has a consensus rating of “Moderate Buy” and a consensus target price of $217.50.
Globant Price Performance
Globant (NYSE:GLOB – Get Free Report) last released its earnings results on Thursday, May 18th. The information technology services provider reported $1.00 earnings per share for the quarter, missing analysts’ consensus estimates of $1.02 by ($0.02). The firm had revenue of $472.42 million for the quarter, compared to analysts’ expectations of $472.14 million. Globant had a return on equity of 11.65% and a net margin of 8.03%. Equities research analysts anticipate that Globant S.A. will post 4.69 earnings per share for the current fiscal year.
Globant Company Profile
Globant SA operates as a technology services company worldwide. The company offers e-commerce, new distribution capabilities, augmented revenue management, hyper connected operation, and conversational user experience services through reinvention studios; digital lending, commercial effectiveness, finance, sustainability, regulation analytic, transformation and post-merger integration, and payment and open banking services; and game and graphic engineering, UI and UX design, game as a service, DevOps, and online services, as well as high tech tools.
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