Neuberger Berman Group LLC Grows Stock Holdings in Globant S.A. (NYSE:GLOB)

Neuberger Berman Group LLC lifted its holdings in shares of Globant S.A. (NYSE:GLOB - Free Report) by 38.1% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 9,801 shares of the information technology services provider's stock after buying an additional 2,702 shares during the period. Neuberger Berman Group LLC's holdings in Globant were worth $2,106,000 at the end of the most recent quarter.

Several other hedge funds also recently modified their holdings of the stock. Raymond James Financial Inc. acquired a new position in Globant in the 4th quarter valued at $16,737,000. Cullen Frost Bankers Inc. increased its position in Globant by 5.0% during the fourth quarter. Cullen Frost Bankers Inc. now owns 52,934 shares of the information technology services provider's stock worth $11,350,000 after acquiring an additional 2,505 shares during the period. JPMorgan Chase & Co. increased its position in Globant by 8.6% during the fourth quarter. JPMorgan Chase & Co. now owns 2,572,080 shares of the information technology services provider's stock worth $551,506,000 after acquiring an additional 203,472 shares during the period. NS Partners Ltd acquired a new stake in Globant in the 4th quarter worth about $18,933,000. Finally, Segall Bryant & Hamill LLC boosted its holdings in Globant by 364.7% in the 4th quarter. Segall Bryant & Hamill LLC now owns 118,065 shares of the information technology services provider's stock valued at $25,315,000 after purchasing an additional 92,661 shares during the period. Institutional investors own 91.60% of the company's stock.

Analyst Ratings Changes

A number of research analysts recently commented on GLOB shares. Jefferies Financial Group raised their price target on Globant from $240.00 to $255.00 and gave the stock a "buy" rating in a research report on Tuesday, January 21st. Needham & Company LLC restated a "buy" rating and issued a $220.00 target price on shares of Globant in a research report on Wednesday, March 12th. UBS Group reduced 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. Redburn Atlantic upgraded Globant from a "sell" rating to a "neutral" rating and upped their target price for the stock from $140.00 to $150.00 in a research note on Tuesday, February 25th. Finally, JPMorgan Chase & Co. decreased their price target on Globant from $248.00 to $242.00 and set an "overweight" rating on the stock in a research note on Friday, February 21st. One analyst has rated the stock with a sell rating, five have assigned a hold rating and eleven have given a buy rating to the company. According to MarketBeat, Globant currently has an average rating of "Moderate Buy" and a consensus price target of $209.94.

Globant Price Performance

GLOB traded down $0.71 during trading on Thursday, hitting $105.88. 142,230 shares of the stock traded hands, compared to its average volume of 593,619. The firm has a 50-day moving average of $143.65 and a 200 day moving average of $191.26. Globant S.A. has a 12-month low of $96.23 and a 12-month high of $238.32. The firm has a market capitalization of $4.66 billion, a P/E ratio of 28.49, a price-to-earnings-growth ratio of 2.38 and a beta of 1.50.

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

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.