Brown Brothers Harriman & Co. Acquires 87,242 Shares of Globant S.A. (NYSE:GLOB)

Brown Brothers Harriman & Co. grew its stake in shares of Globant S.A. (NYSE:GLOB) by 42.7% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 291,377 shares of the information technology services provider’s stock after buying an additional 87,242 shares during the period. Brown Brothers Harriman & Co. owned 0.68% of Globant worth $62,477,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds have also recently modified their holdings of GLOB. Centricity Wealth Management LLC bought a new stake in Globant in the 4th quarter valued at $38,000. Kestra Investment Management LLC purchased a new position in shares of Globant during the fourth quarter valued at about $38,000. Wilmington Savings Fund Society FSB bought a new stake in shares of Globant in the third quarter worth about $40,000. Van Berkom & Associates Inc. purchased a new stake in shares of Globant in the fourth quarter worth about $45,000. Finally, Promus Capital LLC bought a new position in Globant during the fourth quarter valued at approximately $64,000. Hedge funds and other institutional investors own 91.60% of the company’s stock.

Globant Trading Down 6.3 %

Shares of GLOB opened at $118.48 on Friday. The firm has a fifty day moving average price of $174.61 and a 200-day moving average price of $200.38. The firm has a market capitalization of $5.22 billion, a P/E ratio of 31.85, a P/E/G ratio of 2.38 and a beta of 1.47. Globant S.A. has a 12-month low of $117.61 and a 12-month high of $238.32.

Globant (NYSE:GLOB) last released its quarterly earnings data on Thursday, February 20th. The information technology services provider reported $1.36 earnings per share (EPS) for the quarter, missing the consensus estimate 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%. Analysts predict that Globant S.A. will post 5.73 earnings per share for the current year.

Analyst Ratings Changes

A number of analysts have issued reports on GLOB shares. JPMorgan Chase & Co. reduced their price objective on Globant from $248.00 to $242.00 and set an “overweight” rating on the stock in a research note on Friday, February 21st. Piper Sandler decreased their price target on shares of Globant from $237.00 to $230.00 and set an “overweight” rating on the stock in a research note on Friday, February 21st. Redburn Atlantic raised shares of Globant from a “sell” rating to a “neutral” rating and lifted their price objective for the stock from $140.00 to $150.00 in a research note on Tuesday, February 25th. Needham & Company LLC restated a “buy” rating and set a $220.00 target price on shares of Globant in a research report on Wednesday, March 12th. Finally, Canaccord Genuity Group dropped their price target on Globant from $205.00 to $165.00 and set a “hold” rating for the company in a research report on Monday, February 24th. One analyst has rated the stock with a sell rating, five have given a hold rating and twelve have issued a buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $219.71.

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.