Blue Trust Inc. Grows Position in Globant S.A. (NYSE:GLOB)

Blue Trust Inc. increased its position in shares of Globant S.A. (NYSE:GLOB) by 23.6% during the first quarter, according to its most recent Form 13F filing with the SEC. The firm owned 607 shares of the information technology services provider’s stock after buying an additional 116 shares during the period. Blue Trust Inc.’s holdings in Globant were worth $71,000 at the end of the most recent reporting period.

Other large investors have also recently made changes to their positions in the company. Raymond James Financial Inc. acquired a new position in Globant in the fourth quarter valued at approximately $16,737,000. Cullen Frost Bankers Inc. boosted its holdings in Globant by 5.0% in the fourth quarter. Cullen Frost Bankers Inc. now owns 52,934 shares of the information technology services provider’s stock valued at $11,350,000 after purchasing an additional 2,505 shares in the last quarter. Bank of America Corp DE boosted its holdings in Globant by 7.5% in the fourth quarter. Bank of America Corp DE now owns 440,039 shares of the information technology services provider’s stock valued at $94,353,000 after purchasing an additional 30,785 shares in the last quarter. Universal Beteiligungs und Servicegesellschaft mbH acquired a new position in Globant in the fourth quarter valued at approximately $18,828,000. Finally, JPMorgan Chase & Co. boosted its holdings in Globant by 8.6% in the fourth quarter. JPMorgan Chase & Co. now owns 2,572,080 shares of the information technology services provider’s stock valued at $551,506,000 after purchasing an additional 203,472 shares in the last quarter. 91.60% of the stock is currently owned by hedge funds and other institutional investors.

Globant Price Performance

Shares of NYSE GLOB opened at $91.49 on Friday. The company has a debt-to-equity ratio of 0.13, a current ratio of 1.56 and a quick ratio of 1.56. The stock has a fifty day moving average price of $106.78 and a 200 day moving average price of $152.27. Globant S.A. has a 1-year low of $86.02 and a 1-year high of $238.32. The company has a market cap of $4.03 billion, a PE ratio of 27.07, a P/E/G ratio of 1.72 and a beta of 1.24.

Globant (NYSE:GLOB) last issued its quarterly earnings results on Thursday, May 15th. The information technology services provider reported $1.50 earnings per share for the quarter, missing the consensus estimate of $1.58 by ($0.08). Globant had a return on equity of 11.08% and a net margin of 6.16%. The company had revenue of $611.09 million for the quarter, compared to analyst estimates of $622.18 million. During the same period in the prior year, the business earned $1.53 earnings per share. Globant’s revenue for the quarter was up 7.0% compared to the same quarter last year. Sell-side analysts forecast that Globant S.A. will post 5.73 EPS for the current year.

Analyst Upgrades and Downgrades

Several equities research analysts have recently weighed in on GLOB shares. Guggenheim reissued a “buy” rating and issued a $125.00 price objective on shares of Globant in a report on Tuesday, June 10th. Scotiabank decreased their price objective on Globant from $170.00 to $140.00 and set a “sector perform” rating for the company in a report on Tuesday, April 29th. Susquehanna decreased their price objective on Globant from $225.00 to $160.00 and set a “positive” rating for the company in a report on Wednesday, April 23rd. Piper Sandler downgraded Globant from an “overweight” rating to a “neutral” rating and decreased their price objective for the company from $154.00 to $116.00 in a report on Friday, May 16th. Finally, Needham & Company LLC decreased their price objective on Globant from $130.00 to $115.00 and set a “buy” rating for the company in a report on Friday, May 16th. Eight equities research analysts have rated the stock with a hold rating and nine have given a buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $174.94.

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.