Hsbc Holdings PLC Has $6.24 Million Position in Globant S.A. $GLOB

Hsbc Holdings PLC raised its holdings in shares of Globant S.A. (NYSE:GLOB) by 22.4% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 134,905 shares of the information technology services provider’s stock after purchasing an additional 24,728 shares during the quarter. Hsbc Holdings PLC owned 0.31% of Globant worth $6,235,000 as of its most recent SEC filing.

Other institutional investors have also recently bought and sold shares of the company. Signaturefd LLC raised its holdings in shares of Globant by 65.1% in the 4th quarter. Signaturefd LLC now owns 482 shares of the information technology services provider’s stock worth $32,000 after acquiring an additional 190 shares during the last quarter. Allworth Financial LP increased its holdings in Globant by 473.3% during the 4th quarter. Allworth Financial LP now owns 493 shares of the information technology services provider’s stock worth $32,000 after purchasing an additional 407 shares in the last quarter. Larson Financial Group LLC increased its holdings in Globant by 561.2% during the 4th quarter. Larson Financial Group LLC now owns 681 shares of the information technology services provider’s stock worth $45,000 after purchasing an additional 578 shares in the last quarter. GAMMA Investing LLC raised its stake in shares of Globant by 34.3% in the fourth quarter. GAMMA Investing LLC now owns 712 shares of the information technology services provider’s stock worth $47,000 after purchasing an additional 182 shares during the last quarter. Finally, MidFirst Bank purchased a new stake in shares of Globant in the fourth quarter worth approximately $47,000. Institutional investors and hedge funds own 91.60% of the company’s stock.

Analyst Ratings Changes

Several research analysts recently issued reports on GLOB shares. UBS Group cut their target price on Globant from $75.00 to $50.00 and set a “neutral” rating on the stock in a research report on Tuesday, May 5th. Canaccord Genuity Group dropped their price objective on Globant from $50.00 to $40.00 and set a “hold” rating on the stock in a research note on Friday, May 15th. The Goldman Sachs Group cut their price objective on shares of Globant from $68.00 to $60.00 and set a “neutral” rating on the stock in a report on Friday, May 15th. William Blair downgraded shares of Globant from an “outperform” rating to a “market perform” rating in a report on Tuesday, June 30th. Finally, Truist Financial dropped their price target on shares of Globant from $54.00 to $44.00 and set a “hold” rating on the stock in a research report on Friday, May 15th. Six equities research analysts have rated the stock with a Buy rating, ten have assigned a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price of $54.62.

Globant Stock Down 0.1%

Shares of NYSE:GLOB opened at $30.63 on Friday. The company has a market capitalization of $1.34 billion, a PE ratio of 12.45, a price-to-earnings-growth ratio of 1.15 and a beta of 1.06. The company has a debt-to-equity ratio of 0.16, a current ratio of 1.82 and a quick ratio of 1.82. The business has a fifty day moving average price of $34.79 and a two-hundred day moving average price of $45.62. Globant S.A. has a 1 year low of $27.56 and a 1 year high of $94.35.

Globant (NYSE:GLOB) last released its earnings results on Friday, May 15th. The information technology services provider reported $1.50 EPS for the quarter, hitting analysts’ consensus estimates of $1.50. The company had revenue of $607.09 million for the quarter, compared to analysts’ expectations of $601.65 million. Globant had a return on equity of 9.87% and a net margin of 4.46%.The business’s revenue for the quarter was down .7% compared to the same quarter last year. During the same period in the previous year, the business posted $1.50 EPS. Analysts forecast that Globant S.A. will post 4.9 earnings per share for the current year.

Globant declared that its Board of Directors has authorized a stock repurchase plan on Monday, May 18th that permits the company to buyback $50.00 million in shares. This buyback authorization permits the information technology services provider to purchase up to 2.9% of its shares through open market purchases. Shares buyback plans are usually an indication that the company’s management believes its shares are undervalued.

Globant Company Profile

Globant is a digitally native technology services company founded in 2003 in Buenos Aires, Argentina. Specializing in software development and digital transformation, Globant partners with enterprises to conceive, design and engineer software products and platforms. The company leverages agile methodologies and proprietary delivery frameworks to accelerate projects in areas such as cloud migration, user experience design, data analytics, artificial intelligence and blockchain-enabled solutions.

Globant’s service offerings span strategy consulting, custom software engineering, digital experience design and managed services.