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

Raymond James Financial Inc. bought a new position in Globant S.A. (NYSE:GLOB - Free Report) in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The firm bought 78,058 shares of the information technology services provider's stock, valued at approximately $16,737,000. Raymond James Financial Inc. owned about 0.18% of Globant at the end of the most recent quarter.

A number of other large investors have also recently made changes to their positions in GLOB. Principal Financial Group Inc. lifted its stake in Globant by 121.3% in the third quarter. Principal Financial Group Inc. now owns 30,351 shares of the information technology services provider's stock worth $6,014,000 after purchasing an additional 16,639 shares during the last quarter. Natixis Advisors LLC lifted its position in shares of Globant by 30.4% during the third quarter. Natixis Advisors LLC now owns 13,468 shares of the information technology services provider's stock worth $2,669,000 after purchasing an additional 3,142 shares during the last quarter. TrinityPoint Wealth LLC purchased a new stake in shares of Globant during the third quarter valued at $208,000. Investidor Profissional Gestao de Recursos Ltda. grew its holdings in shares of Globant by 109.8% in the third quarter. Investidor Profissional Gestao de Recursos Ltda. now owns 39,595 shares of the information technology services provider's stock worth $7,845,000 after purchasing an additional 20,725 shares during the last quarter. Finally, Icon Wealth Advisors LLC increased its stake in Globant by 795.3% in the 3rd quarter. Icon Wealth Advisors LLC now owns 28,613 shares of the information technology services provider's stock worth $5,669,000 after buying an additional 25,417 shares during the period. 91.60% of the stock is owned by hedge funds and other institutional investors.

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Globant Trading Down 1.0 %

Shares of GLOB traded down $1.42 during midday trading on Wednesday, hitting $134.22. 707,731 shares of the company's stock traded hands, compared to its average volume of 535,553. The stock has a market capitalization of $5.91 billion, a price-to-earnings ratio of 36.07, a price-to-earnings-growth ratio of 2.38 and a beta of 1.47. Globant S.A. has a 1 year low of $128.76 and a 1 year high of $238.32. The firm's fifty day moving average is $188.02 and its 200-day moving average is $204.36.

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 analysts' consensus estimates of $1.75 by ($0.39). Globant had a net margin of 6.86% and a return on equity of 11.83%. The business had revenue of $642.48 million during the quarter, compared to analysts' expectations of $644.42 million. On average, equities research analysts anticipate that Globant S.A. will post 5.73 EPS for the current year.

Wall Street Analysts Forecast Growth

Several analysts have recently weighed in on GLOB shares. UBS Group decreased their price target on shares of Globant from $217.00 to $190.00 and set a "neutral" rating for the company in a research note on Wednesday, February 26th. Needham & Company LLC reaffirmed a "buy" rating and set a $220.00 target price on shares of Globant in a research report on Wednesday, March 12th. Susquehanna started coverage on Globant in a research report on Tuesday, December 17th. They set a "positive" rating and a $255.00 price target on the stock. Piper Sandler decreased their price objective on Globant from $237.00 to $230.00 and set an "overweight" rating for the company in a report on Friday, February 21st. Finally, Canaccord Genuity Group dropped their target price on shares of Globant from $205.00 to $165.00 and set a "hold" rating on the stock in a report on Monday, February 24th. Six investment analysts have rated the stock with a hold rating and thirteen have given a buy rating to the stock. According to MarketBeat, Globant has a consensus rating of "Moderate Buy" and an average price target of $221.39.

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.