Globant S.A. (NYSE:GLOB) Position Raised by Brown Brothers Harriman & Co.

Brown Brothers Harriman & Co. lifted its position in shares of Globant S.A. (NYSE:GLOB) by 32.1% in the 3rd quarter, Holdings Channel reports. The fund owned 204,135 shares of the information technology services provider’s stock after buying an additional 49,597 shares during the period. Brown Brothers Harriman & Co.’s holdings in Globant were worth $40,447,000 as of its most recent filing with the SEC.

A number of other large investors have also modified their holdings of the company. Vanguard Group Inc. boosted its stake in Globant by 7.9% during the 1st quarter. Vanguard Group Inc. now owns 112,339 shares of the information technology services provider’s stock valued at $22,681,000 after purchasing an additional 8,267 shares during the period. Cetera Investment Advisers raised its holdings in shares of Globant by 1,079.8% during the first quarter. Cetera Investment Advisers now owns 20,140 shares of the information technology services provider’s stock valued at $4,066,000 after buying an additional 18,433 shares during the last quarter. Creative Planning boosted its position in shares of Globant by 20.5% during the third quarter. Creative Planning now owns 2,062 shares of the information technology services provider’s stock worth $409,000 after buying an additional 351 shares during the period. Marshall Wace LLP bought a new position in Globant in the 2nd quarter worth approximately $1,319,000. Finally, PEAK6 Investments LLC acquired a new stake in Globant in the 1st quarter valued at approximately $858,000. Institutional investors and hedge funds own 91.60% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts have issued reports on the company. Scotiabank boosted their price target on Globant from $210.00 to $220.00 and gave the stock a “sector perform” rating in a research report on Tuesday, November 19th. Citigroup lifted their price objective on shares of Globant from $240.00 to $251.00 and gave the company a “buy” rating in a research note on Monday, October 28th. Piper Sandler decreased their target price on shares of Globant from $240.00 to $237.00 and set an “overweight” rating for the company in a research report on Friday, November 15th. Deutsche Bank Aktiengesellschaft initiated coverage on shares of Globant in a research report on Thursday, August 22nd. They set a “hold” rating and a $210.00 price target on the stock. Finally, Canaccord Genuity Group reiterated a “hold” rating and issued a $205.00 price objective on shares of Globant in a report on Monday, November 18th. One analyst has rated the stock with a sell rating, seven have assigned a hold rating and twelve have given a buy rating to the stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $229.06.

Globant Price Performance

GLOB stock opened at $229.25 on Monday. The firm has a market capitalization of $9.88 billion, a P/E ratio of 59.86, a P/E/G ratio of 2.80 and a beta of 1.39. Globant S.A. has a 52-week low of $151.68 and a 52-week high of $251.50. The company’s 50 day simple moving average is $210.75 and its 200-day simple moving average is $192.16.

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.