Sei Investments Co. Raises Stake in Globant S.A. (NYSE:GLOB)

Sei Investments Co. lifted its position in shares of Globant S.A. (NYSE:GLOB - Free Report) by 3.5% during the fourth quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 602,802 shares of the information technology services provider's stock after buying an additional 20,365 shares during the quarter. Sei Investments Co. owned approximately 1.40% of Globant worth $129,252,000 at the end of the most recent quarter.

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

Globant Trading Down 1.9 %

GLOB traded down $2.47 during trading hours on Wednesday, hitting $127.46. 827,154 shares of the company's stock were exchanged, compared to its average volume of 546,885. Globant S.A. has a 12-month low of $124.53 and a 12-month high of $238.32. The firm has a market cap of $5.61 billion, a P/E ratio of 34.26, a price-to-earnings-growth ratio of 2.38 and a beta of 1.47. The firm has a 50 day moving average of $180.09 and a 200 day moving average of $201.97.

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Globant (NYSE:GLOB - Get Free Report) last released its earnings results on Thursday, February 20th. The information technology services provider reported $1.36 earnings per share 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 firm had revenue of $642.48 million for the quarter, compared to analysts' expectations of $644.42 million. As a group, research analysts expect that Globant S.A. will post 5.73 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

GLOB has been the subject of several analyst reports. Needham & Company LLC reaffirmed a "buy" rating and issued a $220.00 price objective on shares of Globant in a research note on Wednesday, March 12th. Jefferies Financial Group upped their price objective on Globant from $240.00 to $255.00 and gave the stock a "buy" rating in a research note on Tuesday, January 21st. JPMorgan Chase & Co. decreased their price objective on Globant from $248.00 to $242.00 and set an "overweight" rating for the company in a report on Friday, February 21st. UBS Group dropped their target price 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, Susquehanna began coverage on Globant in a research note on Tuesday, December 17th. They issued a "positive" rating and a $255.00 price objective for the company. Six investment analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus price target of $219.71.

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.