Globant S.A. (NYSE:GLOB) Shares Bought by Cullen Frost Bankers Inc.

Cullen Frost Bankers Inc. lifted its holdings in shares of Globant S.A. (NYSE:GLOB) by 5.0% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 52,934 shares of the information technology services provider’s stock after buying an additional 2,505 shares during the quarter. Cullen Frost Bankers Inc. owned approximately 0.12% of Globant worth $11,350,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Verdence Capital Advisors LLC raised its position in Globant by 10.3% during the fourth quarter. Verdence Capital Advisors LLC now owns 8,146 shares of the information technology services provider’s stock worth $1,747,000 after acquiring an additional 758 shares during the period. M&T Bank Corp increased its stake in shares of Globant by 26.3% during the fourth quarter. M&T Bank Corp now owns 2,073 shares of the information technology services provider’s stock worth $445,000 after purchasing an additional 432 shares in the last quarter. Assetmark Inc. raised its position in shares of Globant by 108,316.7% during the 4th quarter. Assetmark Inc. now owns 6,505 shares of the information technology services provider’s stock worth $1,395,000 after purchasing an additional 6,499 shares during the last quarter. Victory Capital Management Inc. raised its position in shares of Globant by 6.4% during the 4th quarter. Victory Capital Management Inc. now owns 1,606,110 shares of the information technology services provider’s stock worth $344,382,000 after purchasing an additional 96,257 shares during the last quarter. Finally, LGT Group Foundation purchased a new position in Globant in the 4th quarter valued at about $1,583,000. Hedge funds and other institutional investors own 91.60% of the company’s stock.

Globant Trading Down 3.9 %

Shares of GLOB opened at $140.78 on Friday. The firm has a market cap of $6.07 billion, a P/E ratio of 37.84, a price-to-earnings-growth ratio of 2.38 and a beta of 1.39. The company’s 50-day moving average price is $201.16 and its 200 day moving average price is $208.07. Globant S.A. has a 12-month low of $140.14 and a 12-month high of $238.32.

Globant (NYSE:GLOB) last released its quarterly 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). The company had revenue of $642.48 million during the quarter, compared to analysts’ expectations of $644.42 million. Globant had a net margin of 6.86% and a return on equity of 11.83%. Equities research analysts forecast that Globant S.A. will post 5.73 earnings per share for the current year.

Wall Street Analysts Forecast Growth

GLOB has been the subject of a number of research analyst reports. StockNews.com raised Globant from a “sell” rating to a “hold” rating in a report on Sunday, November 24th. Piper Sandler decreased their price objective on Globant from $237.00 to $230.00 and set an “overweight” rating on the stock in a report on Friday, February 21st. Scotiabank lowered their target price on shares of Globant from $220.00 to $170.00 and set a “sector perform” rating on the stock in a research note on Monday, February 24th. JPMorgan Chase & Co. reduced their target price on shares of Globant from $248.00 to $242.00 and set an “overweight” rating for the company in a research report on Friday, February 21st. Finally, Needham & Company LLC lowered their price target on shares of Globant from $265.00 to $220.00 and set a “buy” rating on the stock in a research report on Friday, February 21st. Six analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $221.39.

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.