Amalgamated Bank Sells 78 Shares of Globant S.A. (NYSE:GLOB)

Amalgamated Bank cut its position in Globant S.A. (NYSE:GLOB) by 2.9% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 2,637 shares of the information technology services provider’s stock after selling 78 shares during the quarter. Amalgamated Bank’s holdings in Globant were worth $522,000 as of its most recent SEC filing.

Other large investors have also recently bought and sold shares of the company. BOKF NA increased its stake in shares of Globant by 15,800.0% in the first quarter. BOKF NA now owns 159 shares of the information technology services provider’s stock valued at $32,000 after buying an additional 158 shares during the period. Quarry LP increased its stake in shares of Globant by 529.6% in the second quarter. Quarry LP now owns 170 shares of the information technology services provider’s stock valued at $30,000 after buying an additional 143 shares during the period. Ridgewood Investments LLC acquired a new stake in shares of Globant in the second quarter valued at about $31,000. ORG Partners LLC grew its stake in Globant by 65.5% during the third quarter. ORG Partners LLC now owns 192 shares of the information technology services provider’s stock worth $38,000 after purchasing an additional 76 shares during the period. Finally, American National Bank & Trust grew its stake in Globant by 430.2% during the third quarter. American National Bank & Trust now owns 228 shares of the information technology services provider’s stock worth $45,000 after purchasing an additional 185 shares during the period. 91.60% of the stock is currently owned by institutional investors.

Globant Price Performance

NYSE:GLOB opened at $203.29 on Friday. The company has a market capitalization of $8.76 billion, a P/E ratio of 53.08, a P/E/G ratio of 2.91 and a beta of 1.39. Globant S.A. has a 1 year low of $151.68 and a 1 year high of $251.50. The business has a fifty day simple moving average of $208.98 and a two-hundred day simple moving average of $191.01.

Globant (NYSE:GLOB) last issued its quarterly earnings results on Thursday, August 15th. The information technology services provider reported $1.51 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.50 by $0.01. Globant had a return on equity of 11.68% and a net margin of 7.39%. The firm had revenue of $587.46 million during the quarter, compared to analyst estimates of $586.72 million. During the same quarter in the previous year, the company posted $1.04 earnings per share. The company’s revenue was up 18.1% compared to the same quarter last year. As a group, analysts anticipate that Globant S.A. will post 5.06 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Several research firms recently commented on GLOB. UBS Group reaffirmed a “neutral” rating and set a $235.00 target price (up previously from $225.00) on shares of Globant in a research note on Tuesday, August 20th. TD Cowen raised their target price on Globant from $230.00 to $240.00 and gave the stock a “buy” rating in a research note on Friday. Scotiabank raised their target price on Globant from $200.00 to $210.00 and gave the stock a “sector perform” rating in a research note on Wednesday, August 21st. Citigroup raised their target price on Globant from $240.00 to $251.00 and gave the stock a “buy” rating in a research note on Monday, October 28th. Finally, Deutsche Bank Aktiengesellschaft began coverage on Globant in a report on Thursday, August 22nd. They issued a “hold” rating and a $210.00 price target on the stock. Two analysts have rated the stock with a sell rating, six have assigned a hold rating and twelve have assigned a buy rating to the company’s stock. Based on data from MarketBeat, Globant currently has an average rating of “Moderate Buy” and a consensus target price of $228.50.

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.