Alliance Wealth Advisors LLC UT Takes Position in Globant S.A. (NYSE:GLOB)

Alliance Wealth Advisors LLC UT purchased a new position in shares of Globant S.A. (NYSE:GLOB) in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 1,263 shares of the information technology services provider’s stock, valued at approximately $271,000.

Other institutional investors have also made changes to their positions in the company. ORG Partners LLC lifted its position in Globant by 65.5% in the 3rd quarter. ORG Partners LLC now owns 192 shares of the information technology services provider’s stock worth $38,000 after buying an additional 76 shares in the last quarter. Wilmington Savings Fund Society FSB acquired a new position in shares of Globant in the third quarter worth $40,000. Signaturefd LLC raised its holdings in shares of Globant by 46.0% during the third quarter. Signaturefd LLC now owns 292 shares of the information technology services provider’s stock worth $58,000 after acquiring an additional 92 shares in the last quarter. Van ECK Associates Corp boosted its position in Globant by 62.4% during the third quarter. Van ECK Associates Corp now owns 398 shares of the information technology services provider’s stock valued at $86,000 after purchasing an additional 153 shares during the last quarter. Finally, GAMMA Investing LLC grew its stake in Globant by 56.7% in the third quarter. GAMMA Investing LLC now owns 793 shares of the information technology services provider’s stock valued at $157,000 after purchasing an additional 287 shares in the last quarter. 91.60% of the stock is currently owned by institutional investors and hedge funds.

Globant Stock Up 1.5 %

Shares of GLOB opened at $215.03 on Wednesday. The stock’s 50-day moving average price is $217.19 and its 200 day moving average price is $208.75. The firm has a market capitalization of $9.27 billion, a price-to-earnings ratio of 56.14, a P/E/G ratio of 2.33 and a beta of 1.39. Globant S.A. has a 12-month low of $151.68 and a 12-month high of $248.94.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently issued reports on the company. Canaccord Genuity Group reiterated a “hold” rating and set a $205.00 price target on shares of Globant in a report on Monday, November 18th. UBS Group reduced their target price on shares of Globant from $222.00 to $217.00 and set a “neutral” rating for the company in a research note on Monday. Citigroup increased their price target on shares of Globant from $240.00 to $251.00 and gave the stock a “buy” rating in a research note on Monday, October 28th. JPMorgan Chase & Co. lifted their price objective on shares of Globant from $237.00 to $248.00 and gave the company an “overweight” rating in a research note on Wednesday, October 30th. Finally, Needham & Company LLC reissued a “buy” rating and set a $265.00 target price on shares of Globant in a research report on Friday, January 24th. One investment analyst has rated the stock with a sell rating, five have given a hold rating and thirteen have assigned a buy rating to the stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $230.28.

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.