Cerity Partners LLC Has $682,000 Stock Position in Globant S.A. (NYSE:GLOB)

Cerity Partners LLC lifted its stake in Globant S.A. (NYSE:GLOB) by 46.6% in the fourth quarter, HoldingsChannel reports. The institutional investor owned 2,866 shares of the information technology services provider’s stock after buying an additional 911 shares during the quarter. Cerity Partners LLC’s holdings in Globant were worth $682,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also modified their holdings of the stock. Wealth Alliance grew its position in Globant by 3.5% in the third quarter. Wealth Alliance now owns 1,763 shares of the information technology services provider’s stock valued at $349,000 after acquiring an additional 59 shares during the period. Janney Capital Management LLC grew its holdings in shares of Globant by 2.5% in the 3rd quarter. Janney Capital Management LLC now owns 2,462 shares of the information technology services provider’s stock worth $487,000 after purchasing an additional 61 shares during the last quarter. National Bank of Canada FI increased its position in shares of Globant by 1.9% during the 3rd quarter. National Bank of Canada FI now owns 3,447 shares of the information technology services provider’s stock worth $693,000 after purchasing an additional 65 shares in the last quarter. CI Investments Inc. lifted its holdings in Globant by 122.0% during the 3rd quarter. CI Investments Inc. now owns 131 shares of the information technology services provider’s stock valued at $26,000 after purchasing an additional 72 shares during the last quarter. Finally, CWM LLC boosted its position in Globant by 20.9% in the third quarter. CWM LLC now owns 504 shares of the information technology services provider’s stock valued at $100,000 after buying an additional 87 shares in the last quarter. Institutional investors own 91.60% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms have recently issued reports on GLOB. Mizuho reiterated a “buy” rating and issued a $279.00 target price (down previously from $283.00) on shares of Globant in a research note on Tuesday, February 20th. Canaccord Genuity Group restated a “hold” rating and set a $230.00 target price on shares of Globant in a report on Tuesday, February 20th. Piper Sandler lifted their price target on Globant from $257.00 to $290.00 and gave the company an “overweight” rating in a report on Friday, February 16th. KeyCorp increased their price objective on shares of Globant from $266.00 to $272.00 and gave the stock an “overweight” rating in a report on Friday, February 16th. Finally, Wedbush reaffirmed an “outperform” rating and set a $250.00 price objective on shares of Globant in a report on Friday, February 16th. Six investment analysts have rated the stock with a hold rating and twelve have given a buy rating to the stock. According to data from MarketBeat, Globant currently has a consensus rating of “Moderate Buy” and an average price target of $244.24.

Globant Trading Up 0.4 %

Shares of GLOB opened at $180.90 on Wednesday. The stock has a market cap of $7.79 billion, a P/E ratio of 49.83, a price-to-earnings-growth ratio of 1.36 and a beta of 1.35. Globant S.A. has a 1 year low of $135.40 and a 1 year high of $251.50. The stock’s 50-day moving average price is $207.29 and its two-hundred day moving average price is $212.53.

Globant (NYSE:GLOB) last announced its quarterly earnings results on Thursday, February 15th. The information technology services provider reported $1.26 earnings per share for the quarter, missing analysts’ consensus estimates of $1.34 by ($0.08). The firm had revenue of $580.71 million during the quarter, compared to analyst estimates of $579.70 million. Globant had a net margin of 7.56% and a return on equity of 11.38%. As a group, equities analysts forecast that Globant S.A. will post 5.03 EPS for the current 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.