Commonwealth Equity Services LLC Sells 546 Shares of Globant S.A. (NYSE:GLOB)

Commonwealth Equity Services LLC trimmed its holdings in Globant S.A. (NYSE:GLOB) by 9.3% in the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 5,308 shares of the information technology services provider’s stock after selling 546 shares during the quarter. Commonwealth Equity Services LLC’s holdings in Globant were worth $946,000 at the end of the most recent quarter.

Other institutional investors have also made changes to their positions in the company. Accent Capital Management LLC bought a new stake in Globant during the 4th quarter worth about $29,000. Ridgewood Investments LLC bought a new stake in Globant during the 2nd quarter worth about $31,000. BOKF NA raised its holdings in Globant by 15,800.0% during the 1st quarter. BOKF NA now owns 159 shares of the information technology services provider’s stock worth $32,000 after purchasing an additional 158 shares during the last quarter. RiverPark Advisors LLC bought a new stake in Globant during the 1st quarter worth about $54,000. Finally, Principal Securities Inc. acquired a new position in shares of Globant during the 4th quarter worth about $56,000. 91.60% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several equities analysts have recently issued reports on GLOB shares. Mizuho decreased their target price on Globant from $279.00 to $252.00 and set a “buy” rating for the company in a research report on Wednesday, May 22nd. TD Cowen upped their price target on Globant from $220.00 to $230.00 and gave the stock a “buy” rating in a research report on Friday, August 16th. The Goldman Sachs Group initiated coverage on Globant in a research note on Monday, June 24th. They set a “buy” rating and a $200.00 price objective on the stock. Needham & Company LLC upped their price objective on Globant from $200.00 to $245.00 and gave the stock a “buy” rating in a research note on Friday, August 16th. Finally, StockNews.com cut Globant from a “hold” rating to a “sell” rating in a research note on Tuesday, August 27th. Two research analysts have rated the stock with a sell rating, seven have issued a hold rating and thirteen have given a buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $222.90.

Globant Stock Performance

GLOB opened at $192.41 on Wednesday. The firm has a market cap of $8.29 billion, a P/E ratio of 50.50, a price-to-earnings-growth ratio of 2.49 and a beta of 1.40. Globant S.A. has a 52-week low of $151.68 and a 52-week high of $251.50. The business’s fifty day moving average is $195.12 and its 200-day moving average is $187.26.

Globant (NYSE:GLOB) last released its 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. The company had revenue of $587.46 million for the quarter, compared to analyst estimates of $586.72 million. Globant had a return on equity of 11.68% and a net margin of 7.39%. Globant’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 EPS. On average, research analysts predict that Globant S.A. will post 5.01 earnings per share for the current fiscal year.

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.