Globant S.A. (NYSE:GLOB) Shares Acquired by Vestmark Advisory Solutions Inc.

Vestmark Advisory Solutions Inc. lifted its position in shares of Globant S.A. (NYSE:GLOB) by 19.2% in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 1,227 shares of the information technology services provider’s stock after buying an additional 198 shares during the period. Vestmark Advisory Solutions Inc.’s holdings in Globant were worth $263,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also made changes to their positions in the company. Wasatch Advisors LP increased its holdings in shares of Globant by 2.6% during the 3rd quarter. Wasatch Advisors LP now owns 3,480,129 shares of the information technology services provider’s stock worth $689,553,000 after buying an additional 88,829 shares during the last quarter. JPMorgan Chase & Co. increased its holdings in shares of Globant by 6.9% during the 3rd quarter. JPMorgan Chase & Co. now owns 2,368,608 shares of the information technology services provider’s stock worth $469,316,000 after buying an additional 153,385 shares during the last quarter. Victory Capital Management Inc. increased its holdings 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 buying an additional 96,257 shares during the last quarter. Jennison Associates LLC increased its holdings in shares of Globant by 0.6% during the 4th quarter. Jennison Associates LLC now owns 802,547 shares of the information technology services provider’s stock worth $172,082,000 after buying an additional 4,970 shares during the last quarter. Finally, abrdn plc increased its holdings in shares of Globant by 36.7% during the 4th quarter. abrdn plc now owns 470,150 shares of the information technology services provider’s stock worth $101,564,000 after buying an additional 126,333 shares during the last quarter. 91.60% of the stock is currently owned by institutional investors and hedge funds.

Globant Stock Performance

Shares of GLOB stock opened at $140.31 on Monday. Globant S.A. has a one year low of $138.24 and a one year high of $238.32. The company’s 50-day simple moving average is $199.61 and its 200-day simple moving average is $207.69. The stock has a market capitalization of $6.18 billion, a price-to-earnings ratio of 37.72, a PEG ratio of 2.38 and a beta of 1.47.

Globant (NYSE:GLOB) last issued its quarterly earnings results on Thursday, February 20th. The information technology services provider reported $1.36 EPS for the quarter, missing the consensus estimate of $1.75 by ($0.39). Globant had a return on equity of 11.83% and a net margin of 6.86%. The company had revenue of $642.48 million for the quarter, compared to the consensus estimate of $644.42 million. As a group, research analysts forecast that Globant S.A. will post 5.73 EPS for the current year.

Analysts Set New Price Targets

Several analysts recently issued reports on GLOB shares. Scotiabank lowered their price target on Globant from $220.00 to $170.00 and set a “sector perform” rating for the company in a report on Monday, February 24th. TD Cowen increased their price target on Globant from $230.00 to $240.00 and gave the company a “buy” rating in a report on Friday, November 15th. Susquehanna started coverage on Globant in a report on Tuesday, December 17th. They issued a “positive” rating and a $255.00 price target for the company. Needham & Company LLC lowered their price target on Globant from $265.00 to $220.00 and set a “buy” rating for the company in a report on Friday, February 21st. Finally, JPMorgan Chase & Co. lowered their price target on Globant from $248.00 to $242.00 and set an “overweight” rating for the company in a report on Friday, February 21st. Six research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company’s stock. Based on data from MarketBeat, Globant has an average rating of “Moderate Buy” and an average target price 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.