56,248 Shares in Globant S.A. (NYSE:GLOB) Purchased by Zurcher Kantonalbank Zurich Cantonalbank

Zurcher Kantonalbank Zurich Cantonalbank acquired a new stake in Globant S.A. (NYSE:GLOB - Free Report) during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 56,248 shares of the information technology services provider's stock, valued at approximately $11,145,000. Zurcher Kantonalbank Zurich Cantonalbank owned 0.13% of Globant as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds have also recently modified their holdings of the company. Victory Capital Management Inc. increased its stake in shares of Globant by 1,817.5% in the 3rd quarter. Victory Capital Management Inc. now owns 1,509,853 shares of the information technology services provider's stock valued at $299,162,000 after purchasing an additional 1,431,112 shares in the last quarter. Manning & Napier Advisors LLC acquired a new stake in Globant in the 2nd quarter valued at $99,396,000. Sei Investments Co. increased its holdings in Globant by 43.4% in the 2nd quarter. Sei Investments Co. now owns 512,916 shares of the information technology services provider's stock worth $91,432,000 after acquiring an additional 155,112 shares in the last quarter. Dimensional Fund Advisors LP raised its position in Globant by 57.5% during the second quarter. Dimensional Fund Advisors LP now owns 442,312 shares of the information technology services provider's stock worth $78,851,000 after acquiring an additional 161,512 shares during the period. Finally, Clearbridge Investments LLC lifted its holdings in Globant by 28.4% during the second quarter. Clearbridge Investments LLC now owns 339,790 shares of the information technology services provider's stock valued at $60,571,000 after purchasing an additional 75,192 shares in the last quarter. Institutional investors and hedge funds own 91.60% of the company's stock.

Wall Street Analysts Forecast Growth

Several research analysts recently commented on GLOB shares. UBS Group reissued a "neutral" rating and issued a $235.00 price objective (up from $225.00) on shares of Globant in a research note on Tuesday, August 20th. Jefferies Financial Group increased their price objective on shares of Globant from $235.00 to $240.00 and gave the company a "buy" rating in a report on Monday, September 9th. Needham & Company LLC boosted their target price on Globant from $245.00 to $265.00 and gave the stock a "buy" rating in a report on Friday, November 15th. Canaccord Genuity Group reaffirmed a "hold" rating and issued a $205.00 price target on shares of Globant in a report on Monday, November 18th. Finally, Piper Sandler dropped their target price on Globant from $240.00 to $237.00 and set an "overweight" rating for the company in a report on Friday, November 15th. One analyst has rated the stock with a sell rating, seven have given a hold rating and twelve have issued a buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $229.06.

Globant Price Performance

Shares of GLOB stock traded down $1.79 during midday trading on Friday, hitting $227.76. The company had a trading volume of 138,971 shares, compared to its average volume of 509,207. Globant S.A. has a 52-week low of $151.68 and a 52-week high of $251.50. The company's 50 day simple moving average is $214.47 and its 200 day simple moving average is $193.99. The stock has a market cap of $9.81 billion, a price-to-earnings ratio of 59.47, a PEG ratio of 2.81 and a beta of 1.39.

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.