Logan Capital Management Inc. Has $1.15 Million Holdings in Globant S.A. (NYSE:GLOB)

Logan Capital Management Inc. decreased its stake in Globant S.A. (NYSE:GLOB) by 7.5% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 5,799 shares of the information technology services provider’s stock after selling 470 shares during the quarter. Logan Capital Management Inc.’s holdings in Globant were worth $1,149,000 at the end of the most recent quarter.

A number of other large investors have also recently bought and sold shares of the stock. Cetera Advisors LLC bought a new position in shares of Globant in the first quarter valued at approximately $297,000. Envestnet Portfolio Solutions Inc. grew its holdings in shares of Globant by 9.2% during the second quarter. Envestnet Portfolio Solutions Inc. now owns 9,605 shares of the information technology services provider’s stock worth $1,712,000 after purchasing an additional 807 shares during the last quarter. Blue Trust Inc. increased its stake in shares of Globant by 17.9% in the second quarter. Blue Trust Inc. now owns 831 shares of the information technology services provider’s stock valued at $148,000 after buying an additional 126 shares in the last quarter. Sara Bay Financial raised its holdings in shares of Globant by 1.6% in the second quarter. Sara Bay Financial now owns 43,585 shares of the information technology services provider’s stock valued at $7,769,000 after buying an additional 670 shares during the last quarter. Finally, Verdence Capital Advisors LLC lifted its position in Globant by 15.9% during the 2nd quarter. Verdence Capital Advisors LLC now owns 4,963 shares of the information technology services provider’s stock worth $885,000 after buying an additional 682 shares in the last quarter. 91.60% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several analysts have recently commented on the stock. Citigroup increased their price target on shares of Globant from $240.00 to $251.00 and gave the company a “buy” rating in a research note on Monday, October 28th. TD Cowen raised their price target on Globant from $230.00 to $240.00 and gave the company a “buy” rating in a report on Friday, November 15th. Piper Sandler cut their target price on shares of Globant from $240.00 to $237.00 and set an “overweight” rating on the stock in a research report on Friday, November 15th. JPMorgan Chase & Co. lifted their target price on shares of Globant from $237.00 to $248.00 and gave the stock an “overweight” rating in a report on Wednesday, October 30th. Finally, StockNews.com raised Globant from a “sell” rating to a “hold” rating in a research note on Sunday, November 24th. One analyst has rated the stock with a sell rating, five have issued a hold rating and twelve have assigned a buy rating to the company. Based on data from MarketBeat.com, Globant presently has a consensus rating of “Moderate Buy” and an average price target of $229.00.

Globant Price Performance

Shares of NYSE:GLOB opened at $216.77 on Friday. The company’s 50-day moving average price is $219.37 and its two-hundred day moving average price is $197.07. Globant S.A. has a one year low of $151.68 and a one year high of $251.50. The stock has a market capitalization of $9.34 billion, a PE ratio of 56.60, a price-to-earnings-growth ratio of 2.72 and a beta of 1.37.

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.