Raymond James Financial Inc. Invests $16.74 Million in Globant S.A. (NYSE:GLOB)

Raymond James Financial Inc. acquired a new stake in shares of Globant S.A. (NYSE:GLOB) in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor acquired 78,058 shares of the information technology services provider’s stock, valued at approximately $16,737,000. Raymond James Financial Inc. owned about 0.18% of Globant as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. JPMorgan Chase & Co. grew its holdings in shares of Globant by 6.9% during the third quarter. JPMorgan Chase & Co. now owns 2,368,608 shares of the information technology services provider’s stock valued at $469,316,000 after purchasing an additional 153,385 shares during the last quarter. abrdn plc grew its stake in Globant by 36.7% during the 4th quarter. abrdn plc now owns 470,150 shares of the information technology services provider’s stock worth $101,564,000 after buying an additional 126,333 shares during the last quarter. Victory Capital Management Inc. increased its position in Globant by 6.4% in the fourth quarter. Victory Capital Management Inc. now owns 1,606,110 shares of the information technology services provider’s stock worth $344,382,000 after buying an additional 96,257 shares during the period. Principal Financial Group Inc. lifted its stake in Globant by 315.8% in the fourth quarter. Principal Financial Group Inc. now owns 126,199 shares of the information technology services provider’s stock valued at $27,060,000 after buying an additional 95,848 shares during the last quarter. Finally, Wasatch Advisors LP boosted its holdings in shares of Globant by 2.6% during the third quarter. Wasatch Advisors LP now owns 3,480,129 shares of the information technology services provider’s stock valued at $689,553,000 after acquiring an additional 88,829 shares during the period. Institutional investors and hedge funds own 91.60% of the company’s stock.

Globant Stock Up 1.5 %

NYSE:GLOB opened at $136.04 on Tuesday. The business’s 50-day moving average price is $189.60 and its 200 day moving average price is $204.83. The firm has a market cap of $5.99 billion, a P/E ratio of 36.57, a PEG ratio of 2.38 and a beta of 1.47. Globant S.A. has a 52-week low of $128.76 and a 52-week high of $238.32.

Globant (NYSE:GLOB) last released its earnings results on Thursday, February 20th. The information technology services provider reported $1.36 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.75 by ($0.39). Globant had a return on equity of 11.83% and a net margin of 6.86%. The firm had revenue of $642.48 million for the quarter, compared to analyst estimates of $644.42 million. Sell-side analysts expect that Globant S.A. will post 5.73 EPS for the current year.

Analyst Ratings Changes

A number of research firms recently weighed in on GLOB. Susquehanna began coverage on shares of Globant in a report on Tuesday, December 17th. They issued a “positive” rating and a $255.00 price objective on the stock. JPMorgan Chase & Co. reduced their price objective on Globant from $248.00 to $242.00 and set an “overweight” rating for the company in a research report on Friday, February 21st. UBS Group lowered their target price on Globant from $217.00 to $190.00 and set a “neutral” rating on the stock in a research report on Wednesday, February 26th. Jefferies Financial Group boosted their price target on Globant from $240.00 to $255.00 and gave the stock a “buy” rating in a research report on Tuesday, January 21st. Finally, Scotiabank lowered their price target on Globant from $220.00 to $170.00 and set a “sector perform” rating on the stock in a report on Monday, February 24th. Six research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $221.39.

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.