Congress Asset Management Co. Takes $249,000 Position in Globant S.A. (NYSE:GLOB)

Congress Asset Management Co. purchased a new stake in Globant S.A. (NYSE:GLOB - Free Report) in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The fund purchased 1,159 shares of the information technology services provider's stock, valued at approximately $249,000.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Wilmington Savings Fund Society FSB acquired a new stake in Globant in the 3rd quarter worth about $40,000. Signaturefd LLC boosted its holdings in Globant by 46.0% in the 3rd quarter. Signaturefd LLC now owns 292 shares of the information technology services provider's stock worth $58,000 after buying an additional 92 shares during the last quarter. Van ECK Associates Corp boosted its holdings in Globant by 62.4% in the 3rd quarter. Van ECK Associates Corp now owns 398 shares of the information technology services provider's stock worth $86,000 after buying an additional 153 shares during the last quarter. Blue Trust Inc. boosted its holdings in Globant by 4,810.0% in the 4th quarter. Blue Trust Inc. now owns 491 shares of the information technology services provider's stock worth $105,000 after buying an additional 481 shares during the last quarter. Finally, PUREfi Wealth LLC acquired a new stake in Globant in the 4th quarter worth about $205,000. Hedge funds and other institutional investors own 91.60% of the company's stock.

Globant Price Performance

Shares of GLOB stock traded down $58.15 during midday trading on Friday, reaching $152.02. 5,368,389 shares of the company traded hands, compared to its average volume of 641,739. Globant S.A. has a 1-year low of $151.38 and a 1-year high of $238.32. The firm has a market cap of $6.55 billion, a PE ratio of 39.69, a price-to-earnings-growth ratio of 2.46 and a beta of 1.39. The firm's 50 day simple moving average is $215.37 and its two-hundred day simple moving average is $210.82.

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 for the quarter, missing the consensus estimate of $1.75 by ($0.39). The business had revenue of $642.48 million during the quarter, compared to analyst estimates of $644.42 million. Globant had a net margin of 7.20% and a return on equity of 11.65%. As a group, research analysts anticipate that Globant S.A. will post 4.98 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several equities research analysts recently issued reports on the company. JPMorgan Chase & Co. lowered their price objective on Globant from $248.00 to $242.00 and set an "overweight" rating on the stock in a report on Friday. TD Cowen boosted their target price on Globant from $230.00 to $240.00 and gave the stock a "buy" rating in a report on Friday, November 15th. Canaccord Genuity Group restated a "hold" rating and set a $205.00 target price on shares of Globant in a report on Monday, November 18th. Jefferies Financial Group boosted their target price on Globant from $240.00 to $255.00 and gave the stock a "buy" rating in a report on Tuesday, January 21st. Finally, Susquehanna initiated coverage on Globant in a report on Tuesday, December 17th. They set a "positive" rating and a $255.00 target price on the stock. One research analyst has rated the stock with a sell rating, five have assigned a hold rating and thirteen have issued a buy rating to the company's stock. According to data from MarketBeat, Globant has an average rating of "Moderate Buy" and a consensus target price of $227.06.

Globant 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.