Globant S.A. (NYSE:GLOB) Shares Bought by Envestnet Asset Management Inc.

Envestnet Asset Management Inc. grew its stake in shares of Globant S.A. (NYSE:GLOB - Free Report) by 3.8% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 283,621 shares of the information technology services provider's stock after acquiring an additional 10,416 shares during the quarter. Envestnet Asset Management Inc. owned about 0.64% of Globant worth $33,388,000 at the end of the most recent quarter.

Other institutional investors have also modified their holdings of the company. Physician Wealth Advisors Inc. boosted its stake in shares of Globant by 140.9% during the 1st quarter. Physician Wealth Advisors Inc. now owns 265 shares of the information technology services provider's stock valued at $31,000 after buying an additional 155 shares during the last quarter. Bessemer Group Inc. acquired a new stake in shares of Globant during the 1st quarter valued at approximately $39,000. Farther Finance Advisors LLC raised its position in shares of Globant by 186.7% during the 1st quarter. Farther Finance Advisors LLC now owns 387 shares of the information technology services provider's stock valued at $45,000 after acquiring an additional 252 shares in the last quarter. Blue Trust Inc. raised its position in shares of Globant by 23.6% during the 1st quarter. Blue Trust Inc. now owns 607 shares of the information technology services provider's stock valued at $71,000 after acquiring an additional 116 shares in the last quarter. Finally, Pilgrim Partners Asia Pte Ltd acquired a new stake in shares of Globant during the 4th quarter valued at approximately $81,000. Hedge funds and other institutional investors own 91.60% of the company's stock.

Analyst Ratings Changes

Several equities research analysts recently issued reports on GLOB shares. Piper Sandler lowered Globant from an "overweight" rating to a "neutral" rating and dropped their price target for the company from $154.00 to $116.00 in a research report on Friday, May 16th. Canaccord Genuity Group reissued a "hold" rating and set a $97.00 price target (down from $165.00) on shares of Globant in a research report on Thursday, June 26th. The Goldman Sachs Group lowered Globant from a "buy" rating to a "neutral" rating and dropped their price target for the company from $225.00 to $120.00 in a research report on Friday, May 16th. Scotiabank dropped their target price on Globant from $170.00 to $140.00 and set a "sector perform" rating on the stock in a research report on Tuesday, April 29th. Finally, Susquehanna dropped their target price on Globant from $225.00 to $160.00 and set a "positive" rating on the stock in a research report on Wednesday, April 23rd. Eight analysts have rated the stock with a hold rating and nine have issued a buy rating to the company. Based on data from MarketBeat, the stock has an average rating of "Moderate Buy" and an average target price of $174.94.

Globant Price Performance

Shares of GLOB opened at $85.29 on Monday. The firm has a market capitalization of $3.76 billion, a price-to-earnings ratio of 25.23, a price-to-earnings-growth ratio of 2.62 and a beta of 1.20. The company has a debt-to-equity ratio of 0.13, a quick ratio of 1.56 and a current ratio of 1.56. Globant S.A. has a one year low of $85.00 and a one year high of $238.32. The stock's fifty day moving average is $101.65 and its 200-day moving average is $141.36.

Globant (NYSE:GLOB - Get Free Report) last issued its quarterly earnings results on Thursday, May 15th. The information technology services provider reported $1.50 EPS for the quarter, missing analysts' consensus estimates of $1.58 by ($0.08). The business had revenue of $611.09 million for the quarter, compared to analyst estimates of $622.18 million. Globant had a net margin of 6.16% and a return on equity of 11.08%. Globant's revenue for the quarter was up 7.0% on a year-over-year basis. During the same period last year, the business posted $1.53 earnings per share. Equities analysts anticipate that Globant S.A. will post 5.73 EPS for the current 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.

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