Verdence Capital Advisors LLC Reduces Position in Globant S.A. (NYSE:GLOB)

Verdence Capital Advisors LLC lowered its stake in shares of Globant S.A. (NYSE:GLOB - Free Report) by 43.7% during the 1st quarter, according to the company in its most recent filing with the SEC. The fund owned 4,583 shares of the information technology services provider's stock after selling 3,563 shares during the quarter. Verdence Capital Advisors LLC's holdings in Globant were worth $540,000 at the end of the most recent quarter.

Other large investors have also recently modified their holdings of the company. Congress Wealth Management LLC DE boosted its holdings in Globant by 2.9% during the 4th quarter. Congress Wealth Management LLC DE now owns 2,683 shares of the information technology services provider's stock valued at $575,000 after acquiring an additional 76 shares during the period. Signaturefd LLC lifted its holdings in shares of Globant by 29.7% in the 1st quarter. Signaturefd LLC now owns 389 shares of the information technology services provider's stock worth $46,000 after buying an additional 89 shares during the period. Treasurer of the State of North Carolina lifted its holdings in shares of Globant by 0.6% in the 4th quarter. Treasurer of the State of North Carolina now owns 18,490 shares of the information technology services provider's stock worth $3,965,000 after buying an additional 110 shares during the period. Blue Trust Inc. lifted its holdings in shares of Globant by 23.6% in the 1st quarter. Blue Trust Inc. now owns 607 shares of the information technology services provider's stock worth $71,000 after buying an additional 116 shares during the period. Finally, Commerce Bank lifted its holdings in shares of Globant by 8.8% in the 4th quarter. Commerce Bank now owns 1,873 shares of the information technology services provider's stock worth $402,000 after buying an additional 151 shares during the period. Institutional investors own 91.60% of the company's stock.

Globant Trading Down 1.0%

Shares of NYSE GLOB traded down $0.89 during trading on Friday, reaching $84.28. The stock had a trading volume of 1,008,549 shares, compared to its average volume of 747,310. The company has a market cap of $3.71 billion, a P/E ratio of 24.93, a PEG ratio of 2.60 and a beta of 1.20. The business's 50-day moving average price is $97.66 and its 200-day moving average price is $137.84. Globant S.A. has a fifty-two week low of $82.39 and a fifty-two week high of $238.32. 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 (NYSE:GLOB - Get Free Report) last announced its quarterly earnings results on Thursday, May 15th. The information technology services provider reported $1.50 earnings per share (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 analysts' expectations of $622.18 million. Globant had a return on equity of 11.08% and a net margin of 6.16%. The firm's quarterly revenue was up 7.0% on a year-over-year basis. During the same period last year, the firm earned $1.53 earnings per share. On average, equities research analysts predict that Globant S.A. will post 5.73 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Several research analysts have recently commented on GLOB shares. Scotiabank reduced their price target on Globant from $170.00 to $140.00 and set a "sector perform" rating for the company in a research report on Tuesday, April 29th. Piper Sandler lowered Globant from an "overweight" rating to a "neutral" rating and reduced their price target for the stock from $154.00 to $116.00 in a research report on Friday, May 16th. Wall Street Zen upgraded Globant from a "sell" rating to a "hold" rating in a research note on Monday, May 19th. Susquehanna decreased their price objective on shares of Globant from $225.00 to $160.00 and set a "positive" rating for the company in a research report on Wednesday, April 23rd. Finally, Deutsche Bank Aktiengesellschaft initiated coverage on shares of Globant in a research report on Thursday. They set a "hold" rating and a $87.00 target price on the stock. Eight research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $167.25.

Globant 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.