Victory Capital Management Inc. Acquires 96,257 Shares of Globant S.A. (NYSE:GLOB)

Victory Capital Management Inc. lifted its stake in Globant S.A. (NYSE:GLOB - Free Report) by 6.4% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,606,110 shares of the information technology services provider's stock after acquiring an additional 96,257 shares during the period. Victory Capital Management Inc. owned approximately 3.73% of Globant worth $344,382,000 at the end of the most recent reporting period.

A number of other large investors have also recently made changes to their positions in GLOB. JPMorgan Chase & Co. boosted its holdings in shares of Globant by 6.9% in the third quarter. JPMorgan Chase & Co. now owns 2,368,608 shares of the information technology services provider's stock worth $469,316,000 after acquiring an additional 153,385 shares during the period. abrdn plc boosted its holdings in shares of Globant by 36.7% in the fourth quarter. abrdn plc now owns 470,150 shares of the information technology services provider's stock worth $101,564,000 after acquiring an additional 126,333 shares during the period. Principal Financial Group Inc. boosted its holdings in shares of Globant by 315.8% in the fourth quarter. Principal Financial Group Inc. now owns 126,199 shares of the information technology services provider's stock worth $27,060,000 after acquiring an additional 95,848 shares during the period. Wasatch Advisors LP boosted its holdings in shares of Globant by 2.6% in the third quarter. Wasatch Advisors LP now owns 3,480,129 shares of the information technology services provider's stock worth $689,553,000 after acquiring an additional 88,829 shares during the period. Finally, Public Employees Retirement System of Ohio bought a new position in shares of Globant in the third quarter worth $12,637,000. 91.60% of the stock is owned by institutional investors.

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Wall Street Analyst Weigh In

A number of equities analysts have recently commented on the company. Needham & Company LLC cut their price target on Globant from $265.00 to $220.00 and set a "buy" rating for the company in a report on Friday, February 21st. Scotiabank lowered their price objective on Globant from $220.00 to $170.00 and set a "sector perform" rating on the stock in a research report on Monday, February 24th. Redburn Atlantic upgraded Globant from a "sell" rating to a "neutral" rating and increased their price objective for the stock from $140.00 to $150.00 in a research report on Tuesday, February 25th. StockNews.com upgraded Globant from a "sell" rating to a "hold" rating in a research report on Sunday, November 24th. Finally, Canaccord Genuity Group lowered their price objective on Globant from $205.00 to $165.00 and set a "hold" rating on the stock in a research report on Monday, February 24th. Six analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $221.39.

Globant Price Performance

NYSE GLOB traded down $0.40 during trading hours on Friday, reaching $140.31. 948,111 shares of the stock traded hands, compared to its average volume of 772,673. The stock has a 50 day simple moving average of $199.61 and a two-hundred day simple moving average of $207.64. Globant S.A. has a 1 year low of $138.24 and a 1 year high of $238.32. The company has a market cap of $6.05 billion, a price-to-earnings ratio of 37.72, a price-to-earnings-growth ratio of 2.38 and a beta of 1.39.

Globant (NYSE:GLOB - Get Free Report) last released its quarterly earnings data on Thursday, February 20th. The information technology services provider reported $1.36 EPS for the quarter, missing the consensus estimate of $1.75 by ($0.39). The company had revenue of $642.48 million during the quarter, compared to analysts' expectations of $644.42 million. Globant had a return on equity of 11.83% and a net margin of 6.86%. On average, sell-side analysts forecast 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.