Voya Investment Management LLC Increases Stock Position in Globant S.A. (NYSE:GLOB)

Voya Investment Management LLC lifted its holdings in shares of Globant S.A. (NYSE:GLOB - Free Report) by 17.1% in the 4th quarter, according to its most recent Form 13F filing with the SEC. The firm owned 310,270 shares of the information technology services provider's stock after buying an additional 45,403 shares during the period. Voya Investment Management LLC owned approximately 0.72% of Globant worth $66,528,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Kestra Investment Management LLC acquired a new position in Globant in the 4th quarter valued at $38,000. Centricity Wealth Management LLC acquired a new position in shares of Globant during the fourth quarter worth about $38,000. Wilmington Savings Fund Society FSB purchased a new position in Globant during the third quarter worth about $40,000. Van Berkom & Associates Inc. acquired a new stake in Globant in the fourth quarter valued at about $45,000. Finally, Promus Capital LLC purchased a new stake in Globant in the 4th quarter valued at approximately $64,000. Hedge funds and other institutional investors own 91.60% of the company's stock.

Globant Stock Performance

Globant stock traded down $0.19 during trading on Monday, reaching $118.74. The company had a trading volume of 545,487 shares, compared to its average volume of 606,563. Globant S.A. has a 12-month low of $96.23 and a 12-month high of $238.32. The stock's 50 day moving average price is $128.05 and its two-hundred day moving average price is $186.65. The firm has a market capitalization of $5.23 billion, a price-to-earnings ratio of 31.92, a PEG ratio of 2.38 and a beta of 1.50.

Globant (NYSE:GLOB - Get Free Report) last issued its 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 firm 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%. As a group, research analysts expect that Globant S.A. will post 5.73 earnings per share for the current year.

Analysts Set New Price Targets

A number of equities research analysts have commented on GLOB shares. Canaccord Genuity Group reduced their target price on Globant from $205.00 to $165.00 and set a "hold" rating for the company in a report on Monday, February 24th. Jefferies Financial Group raised their price objective on shares of Globant from $240.00 to $255.00 and gave the company a "buy" rating in a research note on Tuesday, January 21st. Susquehanna reduced their price target on shares of Globant from $225.00 to $160.00 and set a "positive" rating for the company in a research report on Wednesday, April 23rd. UBS Group lowered 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. Finally, Scotiabank reduced their price objective on Globant from $220.00 to $170.00 and set a "sector perform" rating for the company in a report on Monday, February 24th. One research analyst has rated the stock with a sell rating, five have given a hold rating and eleven have given a buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average price target of $205.88.

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.