Globant S.A. (NYSE:GLOB) Shares Purchased by Sei Investments Co.

Sei Investments Co. increased its holdings in shares of Globant S.A. (NYSE:GLOB) by 43.4% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 512,916 shares of the information technology services provider’s stock after buying an additional 155,112 shares during the quarter. Sei Investments Co. owned 1.19% of Globant worth $91,432,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds also recently added to or reduced their stakes in GLOB. 17 Capital Partners LLC increased its holdings in shares of Globant by 1.6% during the second quarter. 17 Capital Partners LLC now owns 3,455 shares of the information technology services provider’s stock valued at $616,000 after acquiring an additional 55 shares in the last quarter. Benjamin F. Edwards & Company Inc. grew its holdings in shares of Globant by 3.9% during the first quarter. Benjamin F. Edwards & Company Inc. now owns 2,140 shares of the information technology services provider’s stock valued at $432,000 after buying an additional 81 shares during the last quarter. Franklin Resources Inc. grew its holdings in shares of Globant by 0.9% during the fourth quarter. Franklin Resources Inc. now owns 12,672 shares of the information technology services provider’s stock valued at $3,016,000 after buying an additional 111 shares during the last quarter. Parkside Financial Bank & Trust increased its position in shares of Globant by 6.3% in the 2nd quarter. Parkside Financial Bank & Trust now owns 1,977 shares of the information technology services provider’s stock valued at $352,000 after acquiring an additional 118 shares during the period. Finally, Accent Capital Management LLC purchased a new position in Globant in the 4th quarter worth $29,000. 91.60% of the stock is owned by institutional investors and hedge funds.

Globant Stock Down 2.3 %

Shares of NYSE GLOB opened at $189.10 on Friday. Globant S.A. has a 52-week low of $151.68 and a 52-week high of $251.50. The company’s 50-day simple moving average is $195.34 and its 200-day simple moving average is $186.95. The firm has a market cap of $8.15 billion, a price-to-earnings ratio of 49.63, a price-to-earnings-growth ratio of 2.49 and a beta of 1.40.

Globant (NYSE:GLOB) last posted its quarterly earnings data on Thursday, August 15th. The information technology services provider reported $1.51 EPS for the quarter, topping the consensus estimate of $1.50 by $0.01. The company had revenue of $587.46 million during 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 previous year, the business earned $1.04 EPS. Equities research analysts anticipate that Globant S.A. will post 5.01 EPS for the current fiscal year.

Analyst Ratings Changes

A number of research analysts have recently weighed in on GLOB shares. Jefferies Financial Group increased their price objective on Globant from $235.00 to $240.00 and gave the company a “buy” rating in a report on Monday, September 9th. Canaccord Genuity Group raised their price target on shares of Globant from $175.00 to $205.00 and gave the stock a “hold” rating in a research report on Wednesday, August 21st. UBS Group restated a “neutral” rating and set a $235.00 price objective (up from $225.00) on shares of Globant in a research note on Tuesday, August 20th. Piper Sandler reiterated an “overweight” rating and issued a $240.00 price objective (up previously from $238.00) on shares of Globant in a research note on Friday, August 16th. Finally, TD Cowen boosted their target price on shares of Globant from $220.00 to $230.00 and gave the company a “buy” rating in a research report on Friday, August 16th. Two analysts have rated the stock with a sell rating, seven have assigned a hold rating and thirteen have given a buy rating to the company. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price 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.