Cullen Frost Bankers Inc. Buys 2,505 Shares of Globant S.A. (NYSE:GLOB)

Cullen Frost Bankers Inc. lifted its holdings in shares of Globant S.A. (NYSE:GLOB - Free Report) by 5.0% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 52,934 shares of the information technology services provider's stock after purchasing an additional 2,505 shares during the quarter. Cullen Frost Bankers Inc. owned approximately 0.12% of Globant worth $11,350,000 as of its most recent SEC filing.

Other hedge funds also recently modified their holdings of the company. Centricity Wealth Management LLC acquired a new position in Globant in the 4th quarter valued at $38,000. Kestra Investment Management LLC acquired a new position in Globant in the 4th quarter valued at $38,000. Wilmington Savings Fund Society FSB acquired a new position in Globant in the 3rd quarter valued at $40,000. Van Berkom & Associates Inc. acquired a new position in Globant in the 4th quarter valued at $45,000. Finally, Van ECK Associates Corp grew its stake 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 valued at $86,000 after buying an additional 153 shares during the last quarter. Institutional investors and hedge funds own 91.60% of the company's stock.

Analyst Ratings Changes

A number of research firms recently issued reports on GLOB. Jefferies Financial Group raised their target price on shares of Globant from $240.00 to $255.00 and gave the company a "buy" rating in a research note on Tuesday, January 21st. Piper Sandler lowered their target price on shares of Globant from $237.00 to $230.00 and set an "overweight" rating on the stock in a research note on Friday, February 21st. Canaccord Genuity Group decreased their price target on shares of Globant from $205.00 to $165.00 and set a "hold" rating on the stock in a research report on Monday, February 24th. UBS Group decreased their price target 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. Finally, Needham & Company LLC decreased their price target on shares of Globant from $265.00 to $220.00 and set a "buy" rating on the stock in a research report on Friday, February 21st. Six analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company's stock. Based on data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $221.39.

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Globant Stock Performance

Shares of NYSE:GLOB traded down $0.40 during midday trading on Friday, reaching $140.31. 948,111 shares of the company's stock were exchanged, compared to its average volume of 772,673. The company's 50 day simple moving average is $199.61 and its two-hundred day simple moving average is $207.69. The firm has a market capitalization of $6.18 billion, a PE ratio of 37.72, a price-to-earnings-growth ratio of 2.38 and a beta of 1.47. Globant S.A. has a 12 month low of $138.24 and a 12 month high of $238.32.

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 analysts' consensus estimates of $1.75 by ($0.39). Globant had a return on equity of 11.83% and a net margin of 6.86%. The business had revenue of $642.48 million for the quarter, compared to the consensus estimate of $644.42 million. On average, research analysts anticipate that Globant S.A. will post 5.73 earnings per share for the current year.

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.