Brown Brothers Harriman & Co. Purchases 49,597 Shares of Globant S.A. (NYSE:GLOB)

Brown Brothers Harriman & Co. boosted its position in Globant S.A. (NYSE:GLOB - Free Report) by 32.1% in the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 204,135 shares of the information technology services provider's stock after buying an additional 49,597 shares during the period. Brown Brothers Harriman & Co. owned approximately 0.47% of Globant worth $40,447,000 at the end of the most recent quarter.

A number of other institutional investors have also added to or reduced their stakes in the company. Quarry LP grew its holdings in Globant by 529.6% during the second quarter. Quarry LP now owns 170 shares of the information technology services provider's stock worth $30,000 after buying an additional 143 shares in the last quarter. Ridgewood Investments LLC purchased a new stake in shares of Globant in the second quarter valued at about $31,000. BOKF NA lifted its position in shares of Globant by 15,800.0% during the first quarter. BOKF NA now owns 159 shares of the information technology services provider's stock valued at $32,000 after purchasing an additional 158 shares in the last quarter. ORG Partners LLC boosted its holdings in Globant by 65.5% during the third quarter. ORG Partners LLC now owns 192 shares of the information technology services provider's stock worth $38,000 after purchasing an additional 76 shares during the last quarter. Finally, American National Bank & Trust grew its position in Globant by 430.2% in the 3rd quarter. American National Bank & Trust now owns 228 shares of the information technology services provider's stock worth $45,000 after purchasing an additional 185 shares in the last quarter. 91.60% of the stock is owned by institutional investors and hedge funds.

Globant Stock Up 0.8 %

Shares of GLOB stock traded up $1.81 on Monday, reaching $231.06. The company's stock had a trading volume of 353,859 shares, compared to its average volume of 486,160. The company has a market capitalization of $9.96 billion, a P/E ratio of 59.86, a PEG ratio of 2.80 and a beta of 1.39. Globant S.A. has a 12-month low of $151.68 and a 12-month high of $251.50. The stock's 50 day simple moving average is $210.75 and its 200-day simple moving average is $192.16.

Analysts Set New Price Targets

A number of equities analysts have recently weighed in on GLOB shares. Jefferies Financial Group boosted their target price on Globant from $235.00 to $240.00 and gave the stock a "buy" rating in a research note on Monday, September 9th. Citigroup upped their price objective on Globant from $240.00 to $251.00 and gave the company a "buy" rating in a research note on Monday, October 28th. Canaccord Genuity Group reiterated a "hold" rating and set a $205.00 target price on shares of Globant in a research note on Monday, November 18th. Scotiabank increased their price target on shares of Globant from $210.00 to $220.00 and gave the company a "sector perform" rating in a research report on Tuesday, November 19th. Finally, Needham & Company LLC lifted their price objective on shares of Globant from $245.00 to $265.00 and gave the stock a "buy" rating in a research report on Friday, November 15th. One analyst has rated the stock with a sell rating, seven have issued a hold rating and twelve have given a buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $229.06.

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.