Blue Trust Inc. Boosts Stock Holdings in Globant S.A. (NYSE:GLOB)

Blue Trust Inc. raised its holdings in Globant S.A. (NYSE:GLOB) by 4,810.0% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 491 shares of the information technology services provider’s stock after purchasing an additional 481 shares during the period. Blue Trust Inc.’s holdings in Globant were worth $105,000 at the end of the most recent reporting period.

Other large investors have also recently modified their holdings of the company. Wilmington Savings Fund Society FSB purchased a new position in shares of Globant in the third quarter worth about $40,000. Signaturefd LLC increased its stake in shares of Globant by 46.0% in the third quarter. Signaturefd LLC now owns 292 shares of the information technology services provider’s stock worth $58,000 after purchasing an additional 92 shares in the last quarter. Van ECK Associates Corp increased its stake in shares of Globant by 62.4% in the third quarter. Van ECK Associates Corp now owns 398 shares of the information technology services provider’s stock worth $86,000 after purchasing an additional 153 shares in the last quarter. GAMMA Investing LLC increased its stake in shares of Globant by 21.9% in the fourth quarter. GAMMA Investing LLC now owns 967 shares of the information technology services provider’s stock worth $207,000 after purchasing an additional 174 shares in the last quarter. Finally, TrinityPoint Wealth LLC purchased a new position in Globant during the third quarter valued at approximately $208,000. Hedge funds and other institutional investors own 91.60% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts recently commented on the stock. Piper Sandler reduced their price objective on shares of Globant from $237.00 to $230.00 and set an “overweight” rating for the company in a research note on Friday. JPMorgan Chase & Co. reduced their price objective on shares of Globant from $248.00 to $242.00 and set an “overweight” rating for the company in a research note on Friday. Canaccord Genuity Group reaffirmed a “hold” rating and set a $205.00 price objective on shares of Globant in a research note on Monday, November 18th. Susquehanna assumed coverage on shares of Globant in a research note on Tuesday, December 17th. They set a “positive” rating and a $255.00 price objective for the company. Finally, Jefferies Financial Group boosted their price objective on shares of Globant from $240.00 to $255.00 and gave the company a “buy” rating in a research note on Tuesday, January 21st. One investment analyst has rated the stock with a sell rating, five have given a hold rating and thirteen have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $227.06.

Globant Stock Performance

Shares of GLOB opened at $152.02 on Friday. The firm has a market cap of $6.55 billion, a price-to-earnings ratio of 40.86, a PEG ratio of 2.38 and a beta of 1.39. Globant S.A. has a fifty-two week low of $151.38 and a fifty-two week high of $238.32. The firm has a 50 day moving average price of $214.07 and a 200-day moving average price of $210.61.

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

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.