Raymond James Financial Inc. Buys Shares of 78,058 Globant S.A. (NYSE:GLOB)

Raymond James Financial Inc. 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 78,058 shares of the information technology services provider's stock, valued at approximately $16,737,000. Raymond James Financial Inc. owned 0.18% of Globant as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Franklin Resources Inc. raised its position in Globant by 0.6% in the third quarter. Franklin Resources Inc. now owns 12,800 shares of the information technology services provider's stock worth $2,704,000 after acquiring an additional 71 shares during the period. Congress Wealth Management LLC DE raised its holdings in 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 worth $575,000 after purchasing an additional 76 shares during the period. PNC Financial Services Group Inc. raised its holdings in Globant by 2.5% in the 4th quarter. PNC Financial Services Group Inc. now owns 4,813 shares of the information technology services provider's stock worth $1,032,000 after purchasing an additional 118 shares during the period. Huntington National Bank grew its holdings in Globant by 51.5% during the fourth quarter. Huntington National Bank now owns 462 shares of the information technology services provider's stock valued at $99,000 after purchasing an additional 157 shares during the period. Finally, GAMMA Investing LLC increased its position in Globant by 21.9% in 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. Hedge funds and other institutional investors own 91.60% of the company's stock.

Wall Street Analyst Weigh In

A number of brokerages recently issued reports on GLOB. StockNews.com downgraded Globant from a "hold" rating to a "sell" rating in a research note on Monday, April 14th. Needham & Company LLC restated a "buy" rating and set a $220.00 target price on shares of Globant in a research note on Wednesday, March 12th. UBS Group decreased their price target on Globant from $217.00 to $190.00 and set a "neutral" rating on the stock in a report on Wednesday, February 26th. 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 research report on Monday, February 24th. Finally, JPMorgan Chase & Co. reduced their price target on shares of Globant from $248.00 to $242.00 and set an "overweight" rating on the stock in a report on Friday, February 21st. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating and eleven have assigned a buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus price target of $205.88.

Globant Price Performance

Shares of Globant stock traded up $6.41 during trading on Thursday, hitting $118.65. The stock had a trading volume of 839,568 shares, compared to its average volume of 865,696. The stock has a market cap of $5.22 billion, a PE ratio of 31.90, a PEG ratio of 2.38 and a beta of 1.50. Globant S.A. has a 12 month low of $96.23 and a 12 month high of $238.32. The firm's fifty day simple moving average is $132.24 and its 200-day simple moving average is $188.14.

Globant (NYSE:GLOB - Get Free Report) last released its 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 for the quarter, compared to the consensus estimate of $644.42 million. Analysts expect that Globant S.A. will post 5.73 earnings per share for the current fiscal year.

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.