Jefferies Financial Group Inc. Purchases 870 Shares of Globant S.A. (NYSE:GLOB)

Jefferies Financial Group Inc. grew its position in Globant S.A. (NYSE:GLOB) by 5.6% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 16,400 shares of the information technology services provider’s stock after purchasing an additional 870 shares during the quarter. Jefferies Financial Group Inc.’s holdings in Globant were worth $3,516,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds have also modified their holdings of GLOB. Congress Wealth Management LLC DE boosted its position in shares of Globant by 2.9% during the fourth quarter. Congress Wealth Management LLC DE now owns 2,683 shares of the information technology services provider’s stock worth $575,000 after acquiring an additional 76 shares during the last quarter. Treasurer of the State of North Carolina boosted its position in shares of Globant by 0.6% during the fourth quarter. Treasurer of the State of North Carolina now owns 18,490 shares of the information technology services provider’s stock worth $3,965,000 after acquiring an additional 110 shares during the last quarter. PNC Financial Services Group Inc. boosted its position in shares of Globant by 2.5% during the fourth quarter. PNC Financial Services Group Inc. now owns 4,813 shares of the information technology services provider’s stock worth $1,032,000 after acquiring an additional 118 shares during the last quarter. Commerce Bank boosted its position in shares of Globant by 8.8% during the fourth quarter. Commerce Bank now owns 1,873 shares of the information technology services provider’s stock worth $402,000 after acquiring an additional 151 shares during the last quarter. Finally, Benjamin Edwards Inc. boosted its position in shares of Globant by 4.8% during the fourth quarter. Benjamin Edwards Inc. now owns 3,320 shares of the information technology services provider’s stock worth $712,000 after acquiring an additional 151 shares during the last quarter. 91.60% of the stock is currently owned by institutional investors.

Globant Trading Down 4.2%

Shares of NYSE:GLOB opened at $100.90 on Tuesday. Globant S.A. has a 52 week low of $88.03 and a 52 week high of $238.32. The company’s 50 day moving average is $115.10 and its two-hundred day moving average is $172.06. The company has a market cap of $4.44 billion, a PE ratio of 27.12, a P/E/G ratio of 2.38 and a beta of 1.37.

Globant (NYSE:GLOB) last announced its quarterly earnings data on Thursday, May 15th. The information technology services provider reported $1.50 EPS for the quarter, missing analysts’ consensus estimates of $1.58 by ($0.08). Globant had a net margin of 6.86% and a return on equity of 11.83%. The firm had revenue of $611.09 million during the quarter, compared to analysts’ expectations of $622.18 million. During the same period in the prior year, the company posted $1.53 earnings per share. The company’s revenue for the quarter was up 7.0% on a year-over-year basis. As a group, equities research analysts expect that Globant S.A. will post 5.73 EPS for the current year.

Analyst Upgrades and Downgrades

Several research firms have commented on GLOB. Scotiabank lowered their price objective on shares of Globant from $170.00 to $140.00 and set a “sector perform” rating for the company in a research report on Tuesday, April 29th. Needham & Company LLC lowered their price objective on shares of Globant from $130.00 to $115.00 and set a “buy” rating for the company in a research report on Friday, May 16th. JPMorgan Chase & Co. reduced their target price on shares of Globant from $248.00 to $242.00 and set an “overweight” rating on the stock in a research note on Friday, February 21st. Redburn Atlantic raised shares of 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 note on Tuesday, February 25th. Finally, The Goldman Sachs Group cut Globant from a “buy” rating to a “neutral” rating and cut their target price for the company from $225.00 to $120.00 in a research note on Friday, May 16th. Eight analysts have rated the stock with a hold rating and nine have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $179.19.

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.