Vanguard Group Inc. Has $24.69 Million Holdings in Globant S.A. (NYSE:GLOB)

Vanguard Group Inc. grew its position in Globant S.A. (NYSE:GLOB) by 2.4% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 115,147 shares of the information technology services provider’s stock after buying an additional 2,744 shares during the quarter. Vanguard Group Inc. owned approximately 0.27% of Globant worth $24,690,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently made changes to their positions in the company. Sei Investments Co. raised its position in Globant by 3.5% during the fourth quarter. Sei Investments Co. now owns 602,802 shares of the information technology services provider’s stock valued at $129,252,000 after buying an additional 20,365 shares during the period. American Century Companies Inc. grew its stake in Globant by 7.7% during the 4th quarter. American Century Companies Inc. now owns 237,229 shares of the information technology services provider’s stock valued at $50,867,000 after acquiring an additional 16,926 shares in the last quarter. Northwest & Ethical Investments L.P. increased its holdings in shares of Globant by 24.3% in the 4th quarter. Northwest & Ethical Investments L.P. now owns 7,457 shares of the information technology services provider’s stock valued at $1,599,000 after purchasing an additional 1,458 shares during the period. Commonwealth of Pennsylvania Public School Empls Retrmt SYS increased its holdings in shares of Globant by 14.5% in the 4th quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 119,454 shares of the information technology services provider’s stock valued at $25,613,000 after purchasing an additional 15,129 shares during the period. Finally, Xponance Inc. lifted its position in shares of Globant by 6.9% in the fourth quarter. Xponance Inc. now owns 4,720 shares of the information technology services provider’s stock worth $1,012,000 after purchasing an additional 303 shares in the last quarter. 91.60% of the stock is currently owned by institutional investors and hedge funds.

Globant Stock Performance

NYSE:GLOB opened at $108.40 on Wednesday. The company has a market cap of $4.77 billion, a PE ratio of 29.14, a PEG ratio of 2.38 and a beta of 1.50. The stock has a 50-day simple moving average of $145.87 and a 200 day simple moving average of $191.85. Globant S.A. has a 52-week low of $96.23 and a 52-week high of $238.32.

Globant (NYSE:GLOB) last posted its quarterly earnings data on Thursday, February 20th. The information technology services provider reported $1.36 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.75 by ($0.39). Globant had a net margin of 6.86% and a return on equity of 11.83%. The business had revenue of $642.48 million during the quarter, compared to analyst estimates of $644.42 million. On average, research analysts predict that Globant S.A. will post 5.73 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Several research firms have weighed in on GLOB. Susquehanna dropped their price objective on shares of Globant from $255.00 to $225.00 and set a “positive” rating on the stock in a research note on Tuesday, April 8th. UBS Group dropped their price target on shares of Globant from $217.00 to $190.00 and set a “neutral” rating on the stock in a research note on Wednesday, February 26th. Jefferies Financial Group lifted their price objective on Globant from $240.00 to $255.00 and gave the company a “buy” rating in a research report on Tuesday, January 21st. Redburn Atlantic raised Globant from a “sell” rating to a “neutral” rating and upped their target price for the stock from $140.00 to $150.00 in a research report on Tuesday, February 25th. Finally, Needham & Company LLC reiterated a “buy” rating and set a $220.00 price target on shares of Globant in a report on Wednesday, March 12th. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating and eleven have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $214.69.

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.