Canada Pension Plan Investment Board Takes Position in Globant S.A. (NYSE:GLOB)

Canada Pension Plan Investment Board acquired a new position in Globant S.A. (NYSE:GLOB - Free Report) during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund acquired 284,084 shares of the information technology services provider's stock, valued at approximately $60,913,000. Canada Pension Plan Investment Board owned 0.66% of Globant at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Centricity Wealth Management LLC bought a new position in shares of Globant during the fourth quarter valued at about $38,000. Kestra Investment Management LLC purchased a new stake in Globant in the 4th quarter worth approximately $38,000. Wilmington Savings Fund Society FSB bought a new stake in shares of Globant in the 3rd quarter worth approximately $40,000. Van Berkom & Associates Inc. purchased a new position in shares of Globant during the fourth quarter valued at approximately $45,000. Finally, Promus Capital LLC bought a new position in shares of Globant during the fourth quarter valued at approximately $64,000. Institutional investors own 91.60% of the company's stock.

Globant Trading Up 5.3 %

GLOB stock traded up $5.90 during midday trading on Thursday, hitting $118.14. The company's stock had a trading volume of 476,220 shares, compared to its average volume of 861,720. The firm's 50-day moving average is $132.24 and its 200-day moving average is $188.14. Globant S.A. has a 12 month low of $96.23 and a 12 month high of $238.32. The company has a market cap of $5.20 billion, a PE ratio of 31.75, a P/E/G ratio of 2.38 and a beta of 1.50.

Globant (NYSE:GLOB - Get Free Report) last released its quarterly earnings data on Thursday, February 20th. The information technology services provider reported $1.36 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 for the quarter, compared to analysts' expectations of $644.42 million. Analysts expect that Globant S.A. will post 5.73 earnings per share for the current year.

Analysts Set New Price Targets

GLOB has been the topic of a number of research analyst reports. Scotiabank reduced their price objective on shares of Globant from $220.00 to $170.00 and set a "sector perform" rating on the stock in a research report on Monday, February 24th. Jefferies Financial Group boosted their price target on shares of Globant from $240.00 to $255.00 and gave the company a "buy" rating in a research report on Tuesday, January 21st. Susquehanna lowered their price objective on shares of Globant from $225.00 to $160.00 and set a "positive" rating for the company in a report on Wednesday. Piper Sandler cut their price objective on Globant from $230.00 to $154.00 and set an "overweight" rating on the stock in a research report on Wednesday, April 16th. Finally, Redburn Atlantic raised Globant from a "sell" rating to a "neutral" rating and lifted their price objective for the company from $140.00 to $150.00 in a research report on Tuesday, February 25th. One research analyst has rated the stock with a sell rating, five have issued a hold rating and eleven have assigned a buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $205.88.

About Globant

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.