Globant S.A. (NYSE:GLOB) Shares Purchased by Benjamin Edwards Inc.

Benjamin Edwards Inc. boosted its holdings in shares of Globant S.A. (NYSE:GLOB) by 4.8% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 3,320 shares of the information technology services provider’s stock after buying an additional 151 shares during the period. Benjamin Edwards Inc.’s holdings in Globant were worth $712,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. GQG Partners LLC acquired a new position in shares of Globant during the fourth quarter valued at about $84,906,000. Canada Pension Plan Investment Board acquired a new position in Globant during the 4th quarter valued at approximately $60,913,000. JPMorgan Chase & Co. raised its holdings in shares of 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 worth $551,506,000 after buying an additional 203,472 shares during the last quarter. Capital International Investors lifted its stake in shares of Globant by 13.1% during the fourth quarter. Capital International Investors now owns 1,700,519 shares of the information technology services provider’s stock worth $364,723,000 after buying an additional 197,064 shares during the period. Finally, abrdn plc grew its holdings in shares of Globant by 36.7% during the fourth quarter. abrdn plc now owns 470,150 shares of the information technology services provider’s stock valued at $101,564,000 after buying an additional 126,333 shares during the last quarter. 91.60% of the stock is currently owned by hedge funds and other institutional investors.

Globant Stock Performance

Shares of NYSE GLOB opened at $128.83 on Friday. The firm has a market cap of $5.67 billion, a PE ratio of 34.63, a PEG ratio of 2.38 and a beta of 1.37. Globant S.A. has a one year low of $96.23 and a one year high of $238.32. The firm has a fifty day moving average of $119.65 and a 200 day moving average of $180.50.

Globant (NYSE:GLOB) last released its quarterly earnings results on Thursday, February 20th. The information technology services provider reported $1.36 earnings per share for the quarter, missing the consensus estimate 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 analyst estimates of $644.42 million. On average, equities analysts predict that Globant S.A. will post 5.73 EPS for the current fiscal year.

Analysts Set New Price Targets

A number of brokerages have commented on GLOB. Redburn Atlantic raised Globant from a “sell” rating to a “neutral” rating and lifted their price target for the stock from $140.00 to $150.00 in a research report on Tuesday, February 25th. StockNews.com upgraded Globant from a “sell” rating to a “hold” rating in a research report on Saturday, May 3rd. Needham & Company LLC reissued a “buy” rating and set a $220.00 price target on shares of Globant in a research report on Wednesday, March 12th. Susquehanna dropped their price objective on shares of Globant from $225.00 to $160.00 and set a “positive” rating on the stock in a report on Wednesday, April 23rd. Finally, Scotiabank reduced their target price on shares of Globant from $170.00 to $140.00 and set a “sector perform” rating for the company in a report on Tuesday, April 29th. Six equities research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, Globant presently has an average rating of “Moderate Buy” and a consensus price target of $204.00.

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.