Globant S.A. (NYSE:GLOB) Shares Bought by Cwm LLC

Cwm LLC raised its stake in shares of Globant S.A. (NYSE:GLOB) by 13.5% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 572 shares of the information technology services provider’s stock after purchasing an additional 68 shares during the quarter. Cwm LLC’s holdings in Globant were worth $136,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also made changes to their positions in GLOB. Invesco Ltd. increased its position in shares of Globant by 155.2% in the 3rd quarter. Invesco Ltd. now owns 611,061 shares of the information technology services provider’s stock valued at $120,898,000 after acquiring an additional 371,628 shares during the period. Jennison Associates LLC purchased a new position in shares of Globant in the third quarter worth about $48,804,000. Allspring Global Investments Holdings LLC lifted its holdings in shares of Globant by 36.7% during the fourth quarter. Allspring Global Investments Holdings LLC now owns 705,090 shares of the information technology services provider’s stock worth $167,797,000 after purchasing an additional 189,204 shares during the period. Ameriprise Financial Inc. boosted its position in Globant by 40.7% in the third quarter. Ameriprise Financial Inc. now owns 485,042 shares of the information technology services provider’s stock valued at $95,966,000 after buying an additional 140,398 shares during the last quarter. Finally, State of Michigan Retirement System acquired a new position in Globant in the 3rd quarter worth approximately $27,343,000. Hedge funds and other institutional investors own 91.60% of the company’s stock.

Globant Stock Up 3.3 %

NYSE:GLOB opened at $185.55 on Monday. Globant S.A. has a 52 week low of $135.40 and a 52 week high of $251.50. The stock’s fifty day moving average is $199.92 and its two-hundred day moving average is $211.79. The company has a market capitalization of $8.00 billion, a P/E ratio of 51.12, a P/E/G ratio of 1.40 and a beta of 1.35.

Globant (NYSE:GLOB) last posted its earnings results on Thursday, February 15th. The information technology services provider reported $1.26 EPS for the quarter, missing analysts’ consensus estimates of $1.34 by ($0.08). Globant had a net margin of 7.56% and a return on equity of 11.38%. The company had revenue of $580.71 million during the quarter, compared to analyst estimates of $579.70 million. Sell-side analysts anticipate that Globant S.A. will post 5.03 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

A number of analysts have recently weighed in on GLOB shares. Canaccord Genuity Group reiterated a “hold” rating and issued a $230.00 price objective on shares of Globant in a research note on Tuesday, February 20th. UBS Group lifted their price objective on Globant from $230.00 to $240.00 and gave the company a “neutral” rating in a research note on Monday, February 26th. Needham & Company LLC upped their target price on Globant from $215.00 to $275.00 and gave the stock a “buy” rating in a research note on Friday, January 26th. Citigroup dropped their target price on Globant from $275.00 to $235.00 and set a “buy” rating on the stock in a report on Monday, April 22nd. Finally, Mizuho restated a “buy” rating and issued a $279.00 price objective (down previously from $283.00) on shares of Globant in a research report on Tuesday, February 20th. Six investment analysts have rated the stock with a hold rating and twelve have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $244.35.

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.