American Century Companies Inc. Buys 89,282 Shares of Globant S.A. (NYSE:GLOB)

American Century Companies Inc. lifted its stake in shares of Globant S.A. (NYSE:GLOB) by 130.6% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 157,667 shares of the information technology services provider’s stock after purchasing an additional 89,282 shares during the period. American Century Companies Inc. owned 0.37% of Globant worth $28,106,000 at the end of the most recent quarter.

Other hedge funds also recently modified their holdings of the company. Accent Capital Management LLC bought a new position in Globant during the fourth quarter worth about $29,000. Ridgewood Investments LLC purchased a new position in Globant in the 2nd quarter valued at approximately $31,000. BOKF NA raised its holdings in 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 acquiring an additional 158 shares during the period. RiverPark Advisors LLC purchased a new stake in shares of Globant during the first quarter worth $54,000. Finally, Principal Securities Inc. bought a new position in shares of Globant in the fourth quarter worth $56,000. Institutional investors own 91.60% of the company’s stock.

Globant Stock Performance

Shares of Globant stock opened at $191.21 on Thursday. The stock has a market capitalization of $8.24 billion, a price-to-earnings ratio of 50.19, a price-to-earnings-growth ratio of 2.49 and a beta of 1.40. The company has a fifty day moving average of $195.38 and a 200-day moving average of $187.28. Globant S.A. has a 52-week low of $151.68 and a 52-week high of $251.50.

Globant (NYSE:GLOB) last announced its quarterly earnings data on Thursday, August 15th. The information technology services provider reported $1.51 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.50 by $0.01. Globant had a return on equity of 11.68% and a net margin of 7.39%. The firm had revenue of $587.46 million for the quarter, compared to analysts’ expectations of $586.72 million. During the same period last year, the firm earned $1.04 earnings per share. The company’s revenue for the quarter was up 18.1% compared to the same quarter last year. On average, equities research analysts forecast that Globant S.A. will post 5.01 earnings per share for the current fiscal year.

Analyst Ratings Changes

A number of analysts recently issued reports on the company. JPMorgan Chase & Co. increased their price objective on Globant from $226.00 to $237.00 and gave the stock an “overweight” rating in a report on Friday, September 6th. Scotiabank raised their price objective on shares of Globant from $200.00 to $210.00 and gave the company a “sector perform” rating in a research report on Wednesday, August 21st. UBS Group reaffirmed a “neutral” rating and set a $235.00 target price (up previously from $225.00) on shares of Globant in a report on Tuesday, August 20th. KeyCorp increased their target price on shares of Globant from $220.00 to $235.00 and gave the stock an “overweight” rating in a research note on Friday, August 16th. Finally, TD Cowen boosted their price target on shares of Globant from $220.00 to $230.00 and gave the company a “buy” rating in a research report on Friday, August 16th. Two research analysts have rated the stock with a sell rating, seven have assigned a hold rating and thirteen have assigned a buy rating to the company. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $222.90.

Globant Company 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.