Brown Brothers Harriman & Co. Buys 87,242 Shares of Globant S.A. (NYSE:GLOB)

Brown Brothers Harriman & Co. increased its stake in Globant S.A. (NYSE:GLOB - Free Report) by 42.7% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 291,377 shares of the information technology services provider's stock after purchasing an additional 87,242 shares during the period. Brown Brothers Harriman & Co. owned 0.68% of Globant worth $62,477,000 as of its most recent SEC filing.

Several other large investors have also recently bought and sold shares of GLOB. GQG Partners LLC acquired a new stake in shares of Globant during the 4th quarter worth approximately $84,906,000. JPMorgan Chase & Co. lifted its holdings in Globant by 8.6% during the fourth quarter. JPMorgan Chase & Co. now owns 2,572,080 shares of the information technology services provider's stock worth $551,506,000 after acquiring an additional 203,472 shares in the last quarter. abrdn plc grew its stake in Globant by 36.7% in the fourth quarter. abrdn plc now owns 470,150 shares of the information technology services provider's stock valued at $101,564,000 after acquiring an additional 126,333 shares during the period. Victory Capital Management Inc. increased its stake in Globant by 6.4% during the 4th quarter. Victory Capital Management Inc. now owns 1,606,110 shares of the information technology services provider's stock worth $344,382,000 after purchasing an additional 96,257 shares in the last quarter. Finally, Principal Financial Group Inc. increased 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 worth $27,060,000 after acquiring an additional 95,848 shares in the last quarter. Institutional investors and hedge funds own 91.60% of the company's stock.

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Globant Stock Performance

Shares of NYSE GLOB traded down $1.92 during trading hours on Tuesday, hitting $115.80. 776,191 shares of the stock were exchanged, compared to its average volume of 560,774. Globant S.A. has a 1-year low of $112.58 and a 1-year high of $238.32. The company has a market cap of $5.10 billion, a PE ratio of 31.13, a price-to-earnings-growth ratio of 2.38 and a beta of 1.47. The company's fifty day simple moving average is $172.69 and its two-hundred day simple moving average is $199.83.

Globant (NYSE:GLOB - Get Free Report) last issued its quarterly earnings results on Thursday, February 20th. The information technology services provider reported $1.36 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.75 by ($0.39). Globant had a net margin of 6.86% and a return on equity of 11.83%. The business had revenue of $642.48 million during the quarter, compared to the consensus estimate of $644.42 million. As a group, sell-side analysts expect that Globant S.A. will post 5.73 EPS for the current fiscal year.

Analysts Set New Price Targets

A number of brokerages recently issued reports on GLOB. Susquehanna assumed coverage on Globant in a research report on Tuesday, December 17th. They issued a "positive" rating and a $255.00 target price on the stock. Jefferies Financial Group boosted their price target on Globant from $240.00 to $255.00 and gave the stock a "buy" rating in a research report on Tuesday, January 21st. UBS Group dropped their price objective on shares of Globant from $217.00 to $190.00 and set a "neutral" rating on the stock in a research report on Wednesday, February 26th. JPMorgan Chase & Co. lowered their target price on Globant from $248.00 to $242.00 and set an "overweight" rating on the stock in a research note on Friday, February 21st. Finally, Redburn Atlantic upgraded Globant from a "sell" rating to a "neutral" rating and increased their price objective for the stock from $140.00 to $150.00 in a research report on Tuesday, February 25th. One equities research 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's stock. According to data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average price target of $219.71.

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.