Raymond James Financial Inc. Invests $16.74 Million in Globant S.A. (NYSE:GLOB)

Raymond James Financial Inc. purchased a new stake in Globant S.A. (NYSE:GLOB - Free Report) during the fourth quarter, according to its most recent disclosure with the SEC. The firm purchased 78,058 shares of the information technology services provider's stock, valued at approximately $16,737,000. Raymond James Financial Inc. owned approximately 0.18% of Globant at the end of the most recent quarter.

Other institutional investors also recently bought and sold shares of the company. M&T Bank Corp grew its stake in 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 in the last quarter. Franklin Resources Inc. grew its position in shares of Globant by 0.6% in the third quarter. Franklin Resources Inc. now owns 12,800 shares of the information technology services provider's stock valued at $2,704,000 after purchasing an additional 71 shares in the last quarter. National Bank of Canada FI increased its holdings in shares of Globant by 3.3% in the third quarter. National Bank of Canada FI now owns 3,816 shares of the information technology services provider's stock valued at $756,000 after purchasing an additional 122 shares during the last quarter. GAMMA Investing LLC lifted its position in Globant by 21.9% during the fourth quarter. GAMMA Investing LLC now owns 967 shares of the information technology services provider's stock worth $207,000 after buying an additional 174 shares in the last quarter. Finally, Centricity Wealth Management LLC purchased a new position in Globant during the fourth quarter worth approximately $38,000. 91.60% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

GLOB has been the subject of several analyst reports. Jefferies Financial Group increased their price objective on Globant from $240.00 to $255.00 and gave the stock a "buy" rating in a research report on Tuesday, January 21st. Scotiabank reduced their price objective on shares of Globant from $220.00 to $170.00 and set a "sector perform" rating on the stock in a report on Monday, February 24th. Susquehanna initiated coverage on shares of Globant in a research report on Tuesday, December 17th. They issued a "positive" rating and a $255.00 target price on the stock. UBS Group dropped their price target on shares of Globant from $217.00 to $190.00 and set a "neutral" rating for the company in a research report on Wednesday, February 26th. Finally, Needham & Company LLC restated a "buy" rating and issued a $220.00 price objective on shares of Globant in a report on Wednesday, March 12th. Six analysts have rated the stock with a hold rating and twelve have given a buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $219.71.

Globant Stock Performance

Shares of NYSE:GLOB traded up $1.59 during trading hours on Friday, reaching $130.75. The stock had a trading volume of 1,121,113 shares, compared to its average volume of 542,846. The stock has a market capitalization of $5.76 billion, a price-to-earnings ratio of 35.15, a P/E/G ratio of 2.38 and a beta of 1.47. The firm's 50 day moving average is $184.75 and its 200-day moving average is $203.34. Globant S.A. has a 1 year low of $124.53 and a 1 year high of $238.32.

Globant (NYSE:GLOB - Get Free Report) last posted its quarterly 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). The business had revenue of $642.48 million during the quarter, compared to analyst estimates of $644.42 million. Globant had a net margin of 6.86% and a return on equity of 11.83%. Analysts forecast that Globant S.A. will post 5.73 EPS for the current 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.