JPMorgan Chase & Co. increased its position in shares of Globant S.A. (NYSE:GLOB - Free Report) by 8.6% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 2,572,080 shares of the information technology services provider's stock after acquiring an additional 203,472 shares during the period. JPMorgan Chase & Co. owned about 5.97% of Globant worth $551,506,000 at the end of the most recent quarter.
A number of other hedge funds and other institutional investors also recently bought and sold shares of the company. Pier Capital LLC boosted its position in Globant by 2.4% in the 4th quarter. Pier Capital LLC now owns 46,644 shares of the information technology services provider's stock valued at $10,001,000 after buying an additional 1,094 shares during the period. Zions Bancorporation N.A. raised its stake in shares of Globant by 18.7% in the fourth quarter. Zions Bancorporation N.A. now owns 7,520 shares of the information technology services provider's stock valued at $1,612,000 after acquiring an additional 1,186 shares in the last quarter. GQG Partners LLC purchased a new position in Globant in the fourth quarter valued at $84,906,000. Segall Bryant & Hamill LLC increased its holdings in Globant by 364.7% during the 4th quarter. Segall Bryant & Hamill LLC now owns 118,065 shares of the information technology services provider's stock worth $25,315,000 after purchasing an additional 92,661 shares during the period. Finally, Congress Wealth Management LLC DE boosted its stake in shares of Globant by 2.9% in the 4th quarter. Congress Wealth Management LLC DE now owns 2,683 shares of the information technology services provider's stock valued at $575,000 after buying an additional 76 shares during the period. 91.60% of the stock is currently owned by hedge funds and other institutional investors.
Globant Trading Down 1.6 %
Shares of NYSE GLOB traded down $1.92 during midday trading on Tuesday, reaching $115.80. 779,331 shares of the company were exchanged, compared to its average volume of 560,786. The stock has a market cap of $5.10 billion, a P/E ratio of 31.13, a PEG ratio of 2.38 and a beta of 1.47. Globant S.A. has a 1 year low of $112.58 and a 1 year high of $238.32. The stock has a fifty day simple moving average of $172.69 and a 200 day simple moving average of $199.83.
Globant (NYSE:GLOB - Get Free Report) last released its quarterly earnings results on Thursday, February 20th. The information technology services provider reported $1.36 EPS for the quarter, missing the consensus estimate of $1.75 by ($0.39). Globant had a return on equity of 11.83% and a net margin of 6.86%. The company had revenue of $642.48 million for the quarter, compared to analysts' expectations of $644.42 million. As a group, analysts forecast that Globant S.A. will post 5.73 earnings per share for the current year.
Wall Street Analysts Forecast Growth
Several analysts recently weighed in on GLOB shares. Piper Sandler reduced their target price on shares of Globant from $237.00 to $230.00 and set an "overweight" rating on the stock in a report on Friday, February 21st. Redburn Atlantic raised shares of Globant from a "sell" rating to a "neutral" rating and lifted their price objective for the stock from $140.00 to $150.00 in a research report on Tuesday, February 25th. StockNews.com downgraded shares of Globant from a "hold" rating to a "sell" rating in a research note on Saturday. Canaccord Genuity Group decreased their price target on Globant from $205.00 to $165.00 and set a "hold" rating for the company in a report on Monday, February 24th. Finally, UBS Group dropped their price objective on Globant from $217.00 to $190.00 and set a "neutral" rating on the stock in a report on Wednesday, February 26th. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating and twelve have assigned a buy rating to the stock. According to MarketBeat.com, Globant has a consensus rating of "Moderate Buy" and an average target price of $219.71.
Check Out Our Latest Research Report on GLOB
About Globant
(
Free Report)
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.
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