NS Partners Ltd Acquires Shares of 88,300 Globant S.A. (NYSE:GLOB)

NS Partners Ltd purchased a new stake in shares of Globant S.A. (NYSE:GLOB - Free Report) in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund purchased 88,300 shares of the information technology services provider's stock, valued at approximately $18,933,000. NS Partners Ltd owned 0.20% of Globant as of its most recent SEC filing.

A number of other large investors have also made changes to their positions in the company. Equitable Trust Co. grew its stake in shares of Globant by 1.1% during the 3rd quarter. Equitable Trust Co. now owns 4,550 shares of the information technology services provider's stock valued at $902,000 after purchasing an additional 50 shares during the period. M&T Bank Corp grew its stake in shares of Globant by 3.8% during the 3rd quarter. M&T Bank Corp now owns 1,641 shares of the information technology services provider's stock valued at $326,000 after acquiring an additional 60 shares during the period. Franklin Resources Inc. grew its stake in shares of Globant by 0.6% during the 3rd quarter. Franklin Resources Inc. now owns 12,800 shares of the information technology services provider's stock valued at $2,704,000 after acquiring an additional 71 shares during the period. PNC Financial Services Group Inc. grew its stake in shares of Globant by 2.5% during the 4th quarter. PNC Financial Services Group Inc. now owns 4,813 shares of the information technology services provider's stock valued at $1,032,000 after acquiring an additional 118 shares during the period. Finally, National Bank of Canada FI grew its stake in shares of Globant by 3.3% during the 3rd quarter. National Bank of Canada FI now owns 3,816 shares of the information technology services provider's stock valued at $756,000 after acquiring an additional 122 shares during the period. 91.60% of the stock is currently owned by institutional investors.

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Analyst Ratings Changes

GLOB has been the subject of a number of recent research reports. Needham & Company LLC reiterated a "buy" rating and set a $220.00 price objective on shares of Globant in a research note on Wednesday. JPMorgan Chase & Co. cut their price objective on Globant from $248.00 to $242.00 and set an "overweight" rating for the company in a research note on Friday, February 21st. Jefferies Financial Group boosted their price objective on Globant from $240.00 to $255.00 and gave the company a "buy" rating in a research note on Tuesday, January 21st. UBS Group dropped their price target on Globant from $217.00 to $190.00 and set a "neutral" rating for the company in a research note on Wednesday, February 26th. Finally, TD Cowen upped their price target on Globant from $230.00 to $240.00 and gave the stock a "buy" rating in a research note on Friday, November 15th. Six equities research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $221.39.

Globant Trading Down 1.8 %

NYSE:GLOB traded down $2.39 during midday trading on Wednesday, hitting $132.37. 791,531 shares of the company traded hands, compared to its average volume of 777,600. The firm's fifty day moving average is $196.31 and its 200-day moving average is $206.72. Globant S.A. has a 12-month low of $130.06 and a 12-month high of $238.32. The firm has a market capitalization of $5.83 billion, a P/E ratio of 35.58, a P/E/G ratio of 2.38 and a beta of 1.47.

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 for the quarter, compared to analysts' expectations of $644.42 million. On average, research analysts expect that Globant S.A. will post 5.73 EPS for the current fiscal year.

Globant Company 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.