Invesco Ltd. Buys 51,945 Shares of Globant S.A. (NYSE:GLOB)

Invesco Ltd. boosted its position in Globant S.A. (NYSE:GLOB - Free Report) by 90.5% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 109,356 shares of the information technology services provider's stock after purchasing an additional 51,945 shares during the period. Invesco Ltd. owned approximately 0.25% of Globant worth $23,448,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in GLOB. Centricity Wealth Management LLC bought a new position in Globant during the fourth quarter valued at about $38,000. Kestra Investment Management LLC bought a new stake in shares of Globant in the 4th quarter worth approximately $38,000. Wilmington Savings Fund Society FSB acquired a new stake in Globant during the third quarter valued at approximately $40,000. Van Berkom & Associates Inc. bought a new stake in Globant during the fourth quarter worth approximately $45,000. Finally, Promus Capital LLC acquired a new position in Globant in the fourth quarter worth approximately $64,000. 91.60% of the stock is owned by institutional investors.

Globant Stock Performance

Shares of NYSE:GLOB traded down $1.72 on Monday, hitting $104.21. The stock had a trading volume of 512,399 shares, compared to its average volume of 596,597. The company has a market capitalization of $4.59 billion, a price-to-earnings ratio of 28.01, a price-to-earnings-growth ratio of 2.38 and a beta of 1.50. Globant S.A. has a twelve month low of $96.23 and a twelve month high of $238.32. The firm's 50 day moving average price is $139.24 and its 200-day moving average price is $189.88.

Globant (NYSE:GLOB - Get Free Report) last issued its earnings results on Thursday, February 20th. The information technology services provider reported $1.36 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $1.75 by ($0.39). The firm had revenue of $642.48 million during the quarter, compared to the consensus estimate of $644.42 million. Globant had a net margin of 6.86% and a return on equity of 11.83%. As a group, sell-side analysts predict that Globant S.A. will post 5.73 EPS for the current year.

Analyst Ratings Changes

Several analysts have recently commented on the company. Piper Sandler decreased their target price on Globant from $230.00 to $154.00 and set an "overweight" rating for the company in a research report on Wednesday, April 16th. JPMorgan Chase & Co. decreased their target price on shares of Globant from $248.00 to $242.00 and set an "overweight" rating for the company in a research note on Friday, February 21st. Susquehanna reduced their price objective on Globant from $255.00 to $225.00 and set a "positive" rating for the company in a research report on Tuesday, April 8th. StockNews.com downgraded shares of Globant from a "hold" rating to a "sell" rating in a research report on Monday, April 14th. Finally, Canaccord Genuity Group decreased their price objective on shares of Globant from $205.00 to $165.00 and set a "hold" rating for the company in a report on Monday, February 24th. One research analyst has rated the stock with a sell rating, five have assigned a hold rating and eleven have issued a buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average price target of $209.94.

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.