International Assets Investment Management LLC Acquires New Position in Globant S.A. (NYSE:GLOB)

International Assets Investment Management LLC bought a new position in shares of Globant S.A. (NYSE:GLOB) in the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor bought 18,427 shares of the information technology services provider’s stock, valued at approximately $36,510,000.

A number of other large investors have also recently modified their holdings of GLOB. BOKF NA grew its holdings in shares of Globant by 15,800.0% during the 1st quarter. BOKF NA now owns 159 shares of the information technology services provider’s stock valued at $32,000 after purchasing an additional 158 shares during the last quarter. Quarry LP grew its stake in shares of Globant by 529.6% during the second quarter. Quarry LP now owns 170 shares of the information technology services provider’s stock worth $30,000 after buying an additional 143 shares during the last quarter. Ridgewood Investments LLC acquired a new position in shares of Globant during the second quarter worth $31,000. ORG Partners LLC lifted its stake in shares of Globant by 65.5% in the 3rd quarter. ORG Partners LLC now owns 192 shares of the information technology services provider’s stock valued at $38,000 after acquiring an additional 76 shares during the last quarter. Finally, American National Bank & Trust lifted its stake in shares of Globant by 430.2% in the 3rd quarter. American National Bank & Trust now owns 228 shares of the information technology services provider’s stock valued at $45,000 after acquiring an additional 185 shares during the last quarter. Institutional investors and hedge funds own 91.60% of the company’s stock.

Globant Trading Up 0.6 %

Shares of GLOB stock opened at $219.26 on Tuesday. Globant S.A. has a 12 month low of $151.68 and a 12 month high of $251.50. The firm has a market capitalization of $9.45 billion, a PE ratio of 57.55, a price-to-earnings-growth ratio of 2.70 and a beta of 1.39. The firm has a fifty day simple moving average of $203.10 and a two-hundred day simple moving average of $187.33.

Globant (NYSE:GLOB) last announced its quarterly earnings results on Thursday, August 15th. The information technology services provider reported $1.51 earnings per share for the quarter, beating the consensus estimate of $1.50 by $0.01. The business had revenue of $587.46 million for the quarter, compared to analysts’ expectations of $586.72 million. Globant had a net margin of 7.39% and a return on equity of 11.68%. The firm’s revenue for the quarter was up 18.1% compared to the same quarter last year. During the same quarter last year, the firm earned $1.04 EPS. On average, equities analysts predict that Globant S.A. will post 5.02 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

GLOB has been the subject of a number of recent research reports. Jefferies Financial Group upped their target price on Globant from $235.00 to $240.00 and gave the stock a “buy” rating in a report on Monday, September 9th. JPMorgan Chase & Co. raised their price objective on shares of Globant from $226.00 to $237.00 and gave the company an “overweight” rating in a report on Friday, September 6th. Deutsche Bank Aktiengesellschaft initiated coverage on shares of Globant in a report on Thursday, August 22nd. They set a “hold” rating and a $210.00 target price on the stock. StockNews.com raised shares of Globant from a “sell” rating to a “hold” rating in a research note on Wednesday, October 23rd. Finally, Needham & Company LLC lifted their price target on shares of Globant from $200.00 to $245.00 and gave the stock a “buy” rating in a report on Friday, August 16th. One analyst has rated the stock with a sell rating, seven have issued a hold rating and thirteen have issued a buy rating to the company’s stock. According to MarketBeat, Globant presently has an average rating of “Moderate Buy” and a consensus target price of $225.63.

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.