Sei Investments Co. Boosts Stock Position in Globant S.A. (NYSE:GLOB)

Sei Investments Co. lifted its position in Globant S.A. (NYSE:GLOB) by 3.5% during the 4th quarter, Holdings Channel.com reports. The institutional investor owned 602,802 shares of the information technology services provider’s stock after buying an additional 20,365 shares during the quarter. Sei Investments Co.’s holdings in Globant were worth $129,252,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Cullen Frost Bankers Inc. raised its holdings in shares of Globant by 5.0% in the 4th quarter. Cullen Frost Bankers Inc. now owns 52,934 shares of the information technology services provider’s stock valued at $11,350,000 after buying an additional 2,505 shares during the period. Raymond James Financial Inc. purchased a new stake in shares of Globant in the 4th quarter valued at $16,737,000. Zurcher Kantonalbank Zurich Cantonalbank purchased a new stake in shares of Globant in the 3rd quarter valued at $11,145,000. NS Partners Ltd purchased a new stake in shares of Globant in the 4th quarter valued at $18,933,000. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its holdings in shares of Globant by 18.6% in the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 53,816 shares of the information technology services provider’s stock valued at $10,663,000 after buying an additional 8,427 shares during the period. Hedge funds and other institutional investors own 91.60% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts have weighed in on the company. JPMorgan Chase & Co. cut their price target on Globant from $248.00 to $242.00 and set an “overweight” rating on the stock in a report on Friday, February 21st. StockNews.com upgraded Globant from a “sell” rating to a “hold” rating in a report on Sunday, November 24th. Jefferies Financial Group upped their price target on Globant from $240.00 to $255.00 and gave the stock a “buy” rating in a report on Tuesday, January 21st. Redburn Atlantic upgraded Globant from a “sell” rating to a “neutral” rating and upped their price target for the stock from $140.00 to $150.00 in a report on Tuesday, February 25th. Finally, Susquehanna assumed coverage on Globant in a report on Tuesday, December 17th. They set a “positive” rating and a $255.00 price target on the stock. Six analysts have rated the stock with a hold rating and twelve have given a buy rating to the stock. According to data from MarketBeat.com, Globant has a consensus rating of “Moderate Buy” and a consensus price target of $219.71.

Globant Stock Up 1.2 %

Shares of NYSE GLOB opened at $130.75 on Friday. The stock has a market cap of $5.76 billion, a PE ratio of 35.15, a price-to-earnings-growth ratio of 2.38 and a beta of 1.47. Globant S.A. has a 52-week low of $124.53 and a 52-week high of $238.32. The business has a 50-day moving average price of $183.20 and a 200 day moving average price of $202.85.

Globant (NYSE:GLOB) last announced its 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 firm had revenue of $642.48 million during the quarter, compared to analyst estimates of $644.42 million. Globant had a net margin of 6.86% and a return on equity of 11.83%. Sell-side analysts anticipate that Globant S.A. will post 5.73 earnings per share for the current year.

About Globant

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.