Wasatch Advisors LP Raises Holdings in Globant S.A. (NYSE:GLOB)

Wasatch Advisors LP lifted its holdings in Globant S.A. (NYSE:GLOB) by 6.8% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 3,336,764 shares of the information technology services provider’s stock after acquiring an additional 213,049 shares during the period. Globant makes up approximately 3.5% of Wasatch Advisors LP’s portfolio, making the stock its biggest position. Wasatch Advisors LP owned approximately 0.08% of Globant worth $673,693,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Charles Schwab Investment Management Inc. boosted its position in shares of Globant by 13.4% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 39,500 shares of the information technology services provider’s stock worth $7,815,000 after purchasing an additional 4,662 shares in the last quarter. Mariner LLC lifted its holdings in shares of Globant by 3.1% in the 3rd quarter. Mariner LLC now owns 3,987 shares of the information technology services provider’s stock worth $789,000 after purchasing an additional 120 shares in the last quarter. Federated Hermes Inc. acquired a new stake in Globant in the 3rd quarter valued at $1,978,000. Northern Trust Corp increased its stake in Globant by 0.9% during the 3rd quarter. Northern Trust Corp now owns 162,706 shares of the information technology services provider’s stock valued at $32,191,000 after purchasing an additional 1,517 shares in the last quarter. Finally, Treasurer of the State of North Carolina raised its holdings in Globant by 0.5% during the third quarter. Treasurer of the State of North Carolina now owns 18,105 shares of the information technology services provider’s stock worth $3,582,000 after buying an additional 90 shares during the last quarter. 91.60% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several research analysts recently issued reports on the company. HSBC decreased their price target on Globant from $275.00 to $270.00 and set a “buy” rating for the company in a report on Wednesday, April 3rd. Needham & Company LLC reiterated a “buy” rating and issued a $200.00 target price on shares of Globant in a research note on Thursday, June 13th. JPMorgan Chase & Co. dropped their price target on shares of Globant from $273.00 to $257.00 and set an “overweight” rating on the stock in a research report on Thursday, May 2nd. Canaccord Genuity Group reduced their price objective on shares of Globant from $230.00 to $175.00 and set a “hold” rating for the company in a research report on Friday, May 17th. Finally, Scotiabank decreased their price objective on shares of Globant from $200.00 to $190.00 and set a “sector perform” rating for the company in a research note on Friday, May 17th. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating and thirteen have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $216.44.

Globant Price Performance

Shares of Globant stock traded up $0.24 during trading hours on Tuesday, reaching $176.53. The company had a trading volume of 387,556 shares, compared to its average volume of 512,508. The firm has a market cap of $7.61 billion, a PE ratio of 46.33, a price-to-earnings-growth ratio of 1.84 and a beta of 1.41. Globant S.A. has a one year low of $151.68 and a one year high of $251.50. The business has a fifty day simple moving average of $170.41 and a 200 day simple moving average of $202.51.

Globant (NYSE:GLOB) last released its quarterly earnings data on Thursday, May 16th. The information technology services provider reported $1.19 EPS for the quarter, beating analysts’ consensus estimates of $1.18 by $0.01. Globant had a net margin of 7.62% and a return on equity of 11.60%. The company had revenue of $571.08 million during the quarter, compared to analyst estimates of $570.72 million. On average, research analysts forecast that Globant S.A. will post 5 EPS 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.