Janney Montgomery Scott LLC Cuts Stock Holdings in Globant S.A. (NYSE:GLOB)

Janney Montgomery Scott LLC trimmed its position in shares of Globant S.A. (NYSE:GLOB) by 3.9% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 14,687 shares of the information technology services provider’s stock after selling 591 shares during the quarter. Janney Montgomery Scott LLC’s holdings in Globant were worth $2,910,000 as of its most recent SEC filing.

Several other institutional investors have also recently made changes to their positions in the company. Seven Eight Capital LP purchased a new stake in Globant in the 1st quarter worth $2,138,000. Vanguard Group Inc. increased its holdings in Globant by 7.9% in the 1st quarter. Vanguard Group Inc. now owns 112,339 shares of the information technology services provider’s stock worth $22,681,000 after acquiring an additional 8,267 shares in the last quarter. Cetera Investment Advisers increased its holdings in Globant by 1,079.8% in the 1st quarter. Cetera Investment Advisers now owns 20,140 shares of the information technology services provider’s stock worth $4,066,000 after acquiring an additional 18,433 shares in the last quarter. Jupiter Asset Management Ltd. increased its holdings in Globant by 14.6% in the 1st quarter. Jupiter Asset Management Ltd. now owns 42,584 shares of the information technology services provider’s stock worth $8,598,000 after acquiring an additional 5,441 shares in the last quarter. Finally, Brown Brothers Harriman & Co. grew its holdings in shares of Globant by 97.4% during the second quarter. Brown Brothers Harriman & Co. now owns 154,538 shares of the information technology services provider’s stock worth $27,548,000 after buying an additional 76,256 shares in the last quarter. 91.60% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of equities research analysts have recently issued reports on GLOB shares. Piper Sandler reaffirmed an “overweight” rating and set a $240.00 target price (up previously from $238.00) on shares of Globant in a report on Friday, August 16th. Jefferies Financial Group upped their target price on shares of Globant from $235.00 to $240.00 and gave the stock a “buy” rating in a report on Monday, September 9th. Scotiabank upped their target price on shares of Globant from $200.00 to $210.00 and gave the stock a “sector perform” rating in a report on Wednesday, August 21st. Citigroup upped their target price on shares of Globant from $240.00 to $251.00 and gave the stock a “buy” rating in a report on Monday, October 28th. Finally, UBS Group reaffirmed a “neutral” rating and set a $235.00 target price (up previously from $225.00) on shares of Globant in a report on Tuesday, August 20th. One research analyst has rated the stock with a sell rating, seven have assigned a hold rating and twelve have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, Globant has an average rating of “Moderate Buy” and an average target price of $227.00.

Globant Stock Up 1.1 %

Shares of GLOB stock opened at $234.02 on Tuesday. Globant S.A. has a fifty-two week low of $151.68 and a fifty-two week high of $251.50. The stock has a market cap of $10.08 billion, a P/E ratio of 60.41, a P/E/G ratio of 2.84 and a beta of 1.39. The business has a fifty day simple moving average of $206.06 and a 200-day simple moving average of $189.52.

Globant (NYSE:GLOB) last announced its quarterly earnings results on Thursday, August 15th. The information technology services provider reported $1.51 earnings per share for the quarter, beating analysts’ consensus estimates of $1.50 by $0.01. Globant had a return on equity of 11.68% and a net margin of 7.39%. The business had revenue of $587.46 million during the quarter, compared to analysts’ expectations of $586.72 million. During the same quarter last year, the business posted $1.04 earnings per share. The business’s revenue for the quarter was up 18.1% on a year-over-year basis. On average, sell-side analysts anticipate that Globant S.A. will post 5.06 earnings per share for the current year.

About Globant

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.