Globant S.A. (NYSE:GLOB) Shares Purchased by Victory Capital Management Inc.

Victory Capital Management Inc. raised its stake in shares of Globant S.A. (NYSE:GLOB - Free Report) by 1,817.5% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 1,509,853 shares of the information technology services provider's stock after acquiring an additional 1,431,112 shares during the period. Victory Capital Management Inc. owned approximately 3.50% of Globant worth $299,162,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also made changes to their positions in GLOB. Manning & Napier Advisors LLC acquired a new stake in shares of Globant during the 2nd quarter worth about $99,396,000. Sei Investments Co. raised its holdings in Globant by 43.4% during the second quarter. Sei Investments Co. now owns 512,916 shares of the information technology services provider's stock worth $91,432,000 after purchasing an additional 155,112 shares in the last quarter. Dimensional Fund Advisors LP lifted its position in shares of Globant by 57.5% during the 2nd quarter. Dimensional Fund Advisors LP now owns 442,312 shares of the information technology services provider's stock worth $78,851,000 after buying an additional 161,512 shares during the last quarter. Clearbridge Investments LLC boosted its holdings in shares of Globant by 28.4% in the 2nd quarter. Clearbridge Investments LLC now owns 339,790 shares of the information technology services provider's stock valued at $60,571,000 after buying an additional 75,192 shares in the last quarter. Finally, The Manufacturers Life Insurance Company raised its stake in Globant by 89.9% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 266,184 shares of the information technology services provider's stock worth $47,450,000 after acquiring an additional 126,030 shares in the last quarter. 91.60% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

GLOB has been the subject of several research analyst reports. JPMorgan Chase & Co. upped their price objective on shares of Globant from $237.00 to $248.00 and gave the company an "overweight" rating in a research note on Wednesday, October 30th. Jefferies Financial Group raised their price target on Globant from $235.00 to $240.00 and gave the stock a "buy" rating in a research note on Monday, September 9th. UBS Group reissued a "neutral" rating and set a $235.00 price objective (up from $225.00) on shares of Globant in a research report on Tuesday, August 20th. Citigroup upped their target price on shares of Globant from $240.00 to $251.00 and gave the company a "buy" rating in a report on Monday, October 28th. Finally, Deutsche Bank Aktiengesellschaft started coverage on Globant in a report on Thursday, August 22nd. They set a "hold" rating and a $210.00 price target on the stock. One equities research analyst has rated the stock with a sell rating, seven have issued a hold rating and twelve have given a buy rating to the company. According to MarketBeat.com, Globant currently has an average rating of "Moderate Buy" and an average price target of $227.00.

Globant Price Performance

Shares of NYSE GLOB traded up $1.28 on Tuesday, hitting $235.11. The company's stock had a trading volume of 547,241 shares, compared to its average volume of 478,092. The stock has a 50 day moving average of $206.69 and a 200-day moving average of $189.90. The company has a market capitalization of $10.13 billion, a price-to-earnings ratio of 61.63, a price-to-earnings-growth ratio of 2.84 and a beta of 1.39. Globant S.A. has a 12-month low of $151.68 and a 12-month high of $251.50.

Globant (NYSE:GLOB - Get Free Report) last announced its earnings results on Thursday, August 15th. The information technology services provider reported $1.51 EPS for the quarter, beating analysts' consensus estimates of $1.50 by $0.01. Globant had a return on equity of 11.68% and a net margin of 7.39%. The firm had revenue of $587.46 million for the quarter, compared to analysts' expectations of $586.72 million. During the same quarter in the prior year, the firm earned $1.04 EPS. Globant's quarterly revenue was up 18.1% on a year-over-year basis. Sell-side analysts expect that Globant S.A. will post 5.06 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.