Zurcher Kantonalbank Zurich Cantonalbank Buys 14,122 Shares of Globant S.A. (NYSE:GLOB)

Zurcher Kantonalbank Zurich Cantonalbank grew its stake in shares of Globant S.A. (NYSE:GLOB - Free Report) by 25.1% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 70,370 shares of the information technology services provider's stock after buying an additional 14,122 shares during the quarter. Zurcher Kantonalbank Zurich Cantonalbank owned about 0.16% of Globant worth $15,089,000 as of its most recent filing with the Securities and Exchange Commission.

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

Analysts Set New Price Targets

GLOB has been the topic of several analyst reports. Redburn Atlantic raised shares of Globant from a "sell" rating to a "neutral" rating and lifted their target price for the stock from $140.00 to $150.00 in a research report on Tuesday, February 25th. Piper Sandler lowered their price objective on shares of Globant from $237.00 to $230.00 and set an "overweight" rating on the stock in a research report on Friday, February 21st. Susquehanna initiated coverage on shares of Globant in a research report on Tuesday, December 17th. They set a "positive" rating and a $255.00 price objective on the stock. StockNews.com raised shares of Globant from a "sell" rating to a "hold" rating in a research report on Sunday, November 24th. Finally, Scotiabank lowered 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. Six investment analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company's stock. According to MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average price target of $221.39.

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Globant Price Performance

Shares of GLOB traded up $5.58 during trading hours on Friday, hitting $134.43. The stock had a trading volume of 843,333 shares, compared to its average volume of 534,111. The company's fifty day moving average is $191.29 and its two-hundred day moving average is $205.22. Globant S.A. has a 52 week low of $128.76 and a 52 week high of $238.32. The stock has a market capitalization of $5.92 billion, a price-to-earnings ratio of 36.14, a P/E/G ratio of 2.38 and a beta of 1.47.

Globant (NYSE:GLOB - Get Free Report) last issued its quarterly earnings data 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 return on equity of 11.83% and a net margin of 6.86%. The company had revenue of $642.48 million for the quarter, compared to the consensus estimate of $644.42 million. Equities analysts predict that Globant S.A. will post 5.73 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.