Verdence Capital Advisors LLC Purchases 758 Shares of Globant S.A. (NYSE:GLOB)

Verdence Capital Advisors LLC lifted its position in shares of Globant S.A. (NYSE:GLOB) by 10.3% during the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 8,146 shares of the information technology services provider’s stock after purchasing an additional 758 shares during the quarter. Verdence Capital Advisors LLC’s holdings in Globant were worth $1,747,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds also recently made changes to their positions in GLOB. Victory Capital Management Inc. boosted its position in shares of Globant by 1,817.5% during the third quarter. Victory Capital Management Inc. now owns 1,509,853 shares of the information technology services provider’s stock valued at $299,162,000 after purchasing an additional 1,431,112 shares in the last quarter. JPMorgan Chase & Co. boosted its position in shares of Globant by 6.9% during the third quarter. JPMorgan Chase & Co. now owns 2,368,608 shares of the information technology services provider’s stock valued at $469,316,000 after purchasing an additional 153,385 shares in the last quarter. abrdn plc boosted its position in shares of Globant by 36.7% during the fourth quarter. abrdn plc now owns 470,150 shares of the information technology services provider’s stock valued at $101,564,000 after purchasing an additional 126,333 shares in the last quarter. Principal Financial Group Inc. boosted its position in shares of Globant by 315.8% during the fourth quarter. Principal Financial Group Inc. now owns 126,199 shares of the information technology services provider’s stock valued at $27,060,000 after purchasing an additional 95,848 shares in the last quarter. Finally, Wasatch Advisors LP boosted its position in shares of Globant by 2.6% during the third quarter. Wasatch Advisors LP now owns 3,480,129 shares of the information technology services provider’s stock valued at $689,553,000 after purchasing an additional 88,829 shares in the last quarter. 91.60% of the stock is currently owned by institutional investors.

Globant Stock Performance

GLOB stock opened at $147.07 on Thursday. Globant S.A. has a fifty-two week low of $140.88 and a fifty-two week high of $238.32. The business’s 50-day moving average is $202.74 and its two-hundred day moving average is $208.54. The company has a market cap of $6.34 billion, a price-to-earnings ratio of 39.53, a P/E/G ratio of 2.38 and a beta of 1.39.

Globant (NYSE:GLOB) last posted its earnings results on Thursday, February 20th. The information technology services provider reported $1.36 earnings per share for the quarter, missing analysts’ consensus estimates of $1.75 by ($0.39). Globant had a net margin of 6.86% and a return on equity of 11.83%. The firm had revenue of $642.48 million during the quarter, compared to the consensus estimate of $644.42 million. Equities analysts predict that Globant S.A. will post 5.73 earnings per share for the current year.

Analyst Upgrades and Downgrades

GLOB has been the topic of several analyst reports. UBS Group dropped their target price on Globant from $217.00 to $190.00 and set a “neutral” rating on the stock in a report on Wednesday, February 26th. TD Cowen boosted their target price on Globant from $230.00 to $240.00 and gave the stock a “buy” rating in a report on Friday, November 15th. JPMorgan Chase & Co. dropped their target price on Globant from $248.00 to $242.00 and set an “overweight” rating on the stock in a report on Friday, February 21st. Susquehanna initiated coverage on Globant in a report on Tuesday, December 17th. They issued a “positive” rating and a $255.00 target price on the stock. Finally, Canaccord Genuity Group dropped their target price on Globant from $205.00 to $165.00 and set a “hold” rating on the stock in a report on Monday, February 24th. Six research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $221.39.

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.